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SRM TECHNOLOGY – ACHIEVING A CLEAR LINE OF SIGHT
An effective technology solution has been a focal point ever since 2009, when State of Flux began conducting annual global research into SRM practice.
KPIs to reflect these and tie this back into the overall view of the relationship. Being able to view all aspects at once, and over a period of time, is a powerful tool and provides invaluable insight to all aspects of the supplier / customer relationship. We are seeing increased evidence that the implemen- tation of technologies to capture, collate and manage the relationship is acting as a catalyst to bring about the required changes in behaviour, supporting the argument to implement the technology in the early stages of SRM. “Over the years we have found using technology is a great catalyst for invoking change and SRM requires quite a behaviour shift”, Tim Richardson Head of Procurement at British Airways.
Here we look to understand why you should invest in SRM technology, what makes a good solution, imple- mentation challenges and the benefits of a technology led SRM system. WHY INVEST IN SRM TECHNOLOGY? Our five years of global studies on leading SRM prac- tice has revealed that the majority of organisations still lack a strong foundation upon which to build their SRM programme. Such a foundation will incorporate five key elements; contract management, risk management, supplier performance management, collaboration and intelligence. From the research we have seen that the best way to achieve a clear line of sight over these elements is to use technology. This enables operational teams to view contractual obligations with suppliers, create
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