The role of a supplier relationship manager (SRM) is to develop and manage relationships with suppliers in order to create value for the organization. An SRM typically works within a procurement or supply chain organization and is responsible for identifying, developing, and maintaining relationships with strategic suppliers. SRM’s primary objectives are to reduce cost, improve quality, and increase innovation from the supplier base.
The SRM’s responsibilities:
- developing, maintaining and improving relationships with suppliers
- working closely with suppliers to understand their capabilities and capacity, as well as their needs and concerns
- sourcing new suppliers
- providing the best possible products or services to the company at the best possible price
- negotiate contracts, prices, and delivery schedules
- managing supplier performance and resolving any issues that may arise
Job requirements for SRM:
- knowledge of procurement processes and contract law
- experience working in procurement or supply chain roles
- having excellent communication skills (in order to manage relationships with suppliers effectively)
- having a strong understanding of the supply chain
- being highly organized, detail-oriented, and able to think strategically
- being able to identify opportunities for improvement
- being adept at negotiating contracts and managing risks