What is SAP SRM?
SAP SRM is an abbreviation for SAP Supplier Relationship Management. It is crucial in supply chain management. This is because effective supplier relationship management concretizes supply chain processes. SAP supplier relationship management automates the entire procurement life cycle. With its automation capabilities, it streamlines a wide range of operations and other functionalities, from procurement to payment. It also provides goods and services, processes purchase orders and makes payments at the end through a payment gateway and an inventory management system. It enables effective interactions with suppliers of goods and services, as well as the development of strong relationships with suppliers.
Introduction to SAP SRM (Supplier Relationship Management)
Suppliers play a key role in businesses today. If any organization has a hassle-free relationship with its goods or services suppliers, it will phenomenally yield positive results and on the other hand, managing a consistent and vibrant relationship with suppliers is quite challenging. So having the correct tools to streamline procurement operations and interact with your suppliers. SAP SRM stands for Supplier Relationship Management and is an efficient tool that helps companies optimize procurement operations and helps to improve relationships with suppliers and other business vendors. In this article, we will be going through SAP SRM, features, benefits, and a lot more.
Table of Content
- What is SAP SRM?
- Why SAP SRM?
- How does SAP SRM Work?
- Key features of SAP SRM:
- Benefits of SAP SRM:
- Conclusion:
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