Supplier Relationship Management

Buyers play a pivotal role in an organization's commercial department. Their primary responsibility is to ensure the efficient and cost-effective procurement of goods and services, all while upholding quality standards and meeting the diverse needs of the business. Supplier Relationship Management (SRM) is at the core of a Buyer's role in the commercial department. It extends beyond mere procurement; it involves the establishment and nurturing of robust, mutually beneficial relationships with suppliers to ensure the overall success, efficiency, and sustainability of the organization's operations. A proficient buyer should possess a comprehensive understanding of various aspects, including Supplier Selection and Evaluation, Supplier Segmentation, Supplier Auditing and Compliance, Supplier Negotiation and Contract Management, Risk Management in SRM, Supplier Development, and more. Within this track, we will delve into aspects such as Supplier Evaluation and Performance Excellence, Supplier Selection Framework, Handling Grievances, fostering supplier engagement, and implementing profitable buying strategies.