2023 GLOBAL SRM RESEARCH REPORT
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This analysis illustrates an ongoing challenge for companies to demonstrate the value of effective supplier management in terms that the business can understand and buy into. What supplier management benefits have been reported versus those where a financial value has been attributed? (All respondents) Achieved Benefits in this Area Measured Financial Benefit Risk Management/Reduction 75% 9% Cost Reduction 38% 42% Service Level Improvement 66% 15% Collaborative Problem-Solving 65% 11% Increased Supplier Commitment (i.e. access to additional.. 64% 10% Improved Account Management 62% 8% Continuous Improvement & Innovation 59% 16% Quality Improvement 57% 13% Access to Market Intelligence/Best Practice Insights 51% 9% Supply Chain Efficiency 46% 12% Improved End Customer Experience 50% 39% Helping Achieve Your Sustainability and CSR Goals 46% 14% Secured the Best Supplier Resources 44% 11% Cost Avoidance 42% 39% Increased Joint Product/Service Development 36% 10% Improved Speed to Market 37% 10% Preferential Pricing (beyond contractual obligations) 30% 22% Growth of Sales and Revenue 19% 17%
“The value proposition for supplier management has received a tremendous boost from the events of the last few years. It can now feature challenges not previously high up on the executive agenda, namely supply chain resilience and continuity.”
Navigate challenges and build stakeholder support. A strong business case aligned with your organisation’s strategy is the foundation for success. Create your business case now.
Watch how. https://www.stateofflux.co.uk/2023srmreport/value
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