Simmeth vs. SupplierGateway Comparison Chart

Supplier Relationship Management (SRM) summarizes all activities, which enable a more efficient, better, quicker and cheaper development, production and provision of products by better collaboration with suppliers and their sub providers. With this definition it becomes clear that with SRM not only the strategic process of purchasing but the whole enterprise profits and therefore its position on the market can and should be improved. The success of good SRM is directly visible with faster access to markets, more innovative processes and products, cost reduction and targeted choice of suppliers and materials and lastly, but not the least important, sinking failure costs. Many arguments are invoked not to establish SRM or often to reduce to minimum supplier evaluation which just meets the least standards asked by audits. In the center of the arguments mainly stand operative reasons such as lack of resources regarding know how, time, budgets, IT infrastructure and personnel.