The success of every business is built on reliable Suppliers. Nurturing a healthy relationship with the Suppliers from the very beginning is critical for any business to do well. The use of digital technology allows this basic need of every business met by a well-planned SRM program.
To benefit the Customer:
A well-executed SRM helps bring value to the business and enables it to cater to its customer properly. Earning the trust and building a long term business relationship with reliable and quality conscious suppliers is vital to every organization. In spite of one’s best intentions, the devices, products, services and software programs develop glitches and have limitations. Collaborating with the Suppliers to resolve these problems in a timely, cost effective and efficient manner differentiates those who do well from the rest.
Essentially SRM helps (i) identify the type of suppliers (ii) understand their strengths and limitations (iii) analyze their current needs and changes over a period of time (iv) ensure the products and services they supply adequately fulfill the business needs on an ongoing basis (v) develop a mutually trusting business relationship (vi) provide an excellent support through a reliable supplier relationship program, (vii) develop a timely and dependable contact and response program, (viii) ensure honest and transparent communication (ix) develop and update the database integrating the front and back office systems, (x) ensure everyone within the organization is aware of proper Supplier care SRM procedures and enforce it effectively.
Why SRM ?
SRM ensures healthy interaction between the company and all its suppliers of various products and services to run the business smoothly. The modern business sources supplies from practically every corner of the globe. That brings its own opportunities as well as challenges – such as supply chain logistics, transport issues, inclement weather delays, etc. Effective SRM envisions all angles and builds a mutually respectful and beneficial relationship between the business and the various suppliers, preserving quality, responsibility and accountability.
One of the modern industrial revolutions JIT [Just In Time Delivery] is heavily dependent on excellent and impeccable cooperation, interaction and communication between the various suppliers. This ensures the entire process is streamlined, allowing detection and instant problem resolution, as well as preventive measures to eliminate repetitive problems, well in advance. Having a networked SRM is critical for this JIT process to bring the maximum benefit to all the stake-holders.
The POINT-OF-SALE digital technology, one or two dimensional bar coding, RFID, etc. enable instant electronic communication between the manufacturer’s computer and the whole-sale / retail outlets. This alerts the supplier where, what, how many and when the supplies need to be replenished. The use of well-executed SRM brings on efficiencies of scale that were never imagined before.
Most large firms set up in-house SRM division and may use one of several reputed SRM software tailoring it to their specific product and / or service they offer. It takes a significant part of one’s budget and requires attention from the top all the way to the entire staff – no matter how wide-spread they are. The efficiency may not be as good as the ones hosted from outside. Even large firms have started to allocate some of their SRM functions to ASP outside their own organization.
To reduce the overhead and benefit from the volumes of scale by joining with others, several medium and small size firms find it cost effective to handle SRM using an ASP (Applications Service Provider). This is run as SaaS in a public cloud shared by more than one company, by ensuring data security, encryption and whenever possible, using dedicated servers to cater to client’s growing needs.
Our SRM Solution:
Enriched Cloud Computing, LLC Enriched Cloud Computing, LLC offers licensed SRM software solution as part of its ERP suite in a Private Cloud as well as on a hosted model as SaaS. We offer training for in-house staff on SRM module that we offer and be ready to provide ongoing service as mutually agreed.
With our Technology partner 'i-Grandee Software Technologies Pvt Ltd’, we shall provide customized solutions for your SRM demands, by developing a totally customized unique product that meets your demands.
(i) We follow CMM Level 2 and 3 standards for software development lifecycle process, and UML methodology for object oriented application development, in a distributed and multi-tier environment with MVC architecture for enterprise solutions.
(ii) Our development is based on sophisticated tools, application servers, and configuration. We control our releases through the version control management for software development and top class project management. Our testing facilities meet the stringent need for high quality distributed application development and deployment.
(iii) We follow the J2EE standards for enterprise application development using MVC architecture based on the UML methodologies and the design models. We design the solutions based on open platforms and Microsoft Windows platform.