STATE OF FLUX
2014 GLOBAL SRM RESEARCH REPORT
RELATIONSHIP DEVELOPMENT & CULTURE 173
HIGHLIGHTS
Supplier innovation is considered an important SRMbusiness driver by 81% of leaders. only 43 percent of companies see themselves as good at harnessing supplier innovation. only 1/2 of leaders use guided innovation with suppliers. only 1/3 of companies use 360° supplier relationship assessments. Creating trust in relationships is seen as key by 93%of respondents. 6 in 10 companies regularly collaborate with suppliers. 64 percent of leaders report that negotiationoutcomes are improvedby SRM.
SRM essentials
ö ö Have a joint account plan and relationship charter in place with suppliers. ö ö Recognise the importance of behavioural change and support the development of people but also make tough decisions. ö ö Improve your understanding of the impact of customer choice and take affirmative action to secure that status with as many key suppliers as possible.
ö ö Review what information can be shared with suppliers and how it can benefit both parties. ö ö Develop a supplier innovation strategy and supporting process. ö ö Be more proactive to harness collaboration as the preferred option to solve problems and develop opportunities. ö ö Conduct regular 360° relationship assessments with key suppliers.
53% of companies believe they are a customer of choice for more than half their key suppliers.
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