SAP SRM (Supplier Relationship Management)
The German multinational software company SAP (Systems, Applications & Products in Data Processing) developed the procurement system SAP SRM (Supplier Relationship Management). SRM is intended to improve the relationship between a company and its suppliers by streamlining and automating the sourcing and procurement procedures.
Typical SAP SRM functions and features include:
Supplier Relationship Management (SRM): SRM offers resources for handling supplier data, performance, and interactions. This covers qualification, monitoring, assessment, and registration of suppliers.
Sourcing: It facilitates a range of sourcing operations, including auction administration, request for proposal (RFP), and request for quotation (RFQ). It enables businesses to efficiently negotiate and grant contracts to suppliers.
Procurement: By allowing users to create purchase orders, contracts, and buy requisitions, SRM streamlines the procurement process. It is integrated to provide smooth procurement transaction execution with backend systems such as SAP ERP.
Catalog management: It makes it possible to create and keep up catalogs of goods and services that vendors are willing to provide. Within the SRM system, users can search, peruse, and place orders for products from these catalogs.
Collaboration: With tools like communication channels, document sharing capabilities, and supplier self-service portals, SRM encourages cooperation between buyers and suppliers.
Analytics and Reporting: To obtain insights into supplier performance, procurement activities, and spending trends, the solution offers analytics and reporting tools. This aids in decision-making and procurement process optimization.
Integration: To guarantee data consistency and efficient business operations throughout the enterprise, SAP SRM is made to integrate with other SAP programs, such as SAP ERP and SAP S/4HANA, as well as external systems.
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