Supplier Relationship Management (SRM)

Day 1: Introduction to Supplier Relationship Management

• Overview of SRM: Definition, importance, and benefits

• Understanding the strategic role of suppliers in business operations

• Key concepts in SRM: Supplier segmentation, supplier evaluation, and supplier performance management

• Case studies and examples of successful SRM implementation

Day 2: Supplier Segmentation and Supplier Selection

• Importance of supplier segmentation in SRM

• Criteria for supplier segmentation: Strategic, operational, and financial factors

• Techniques for supplier selection: RFx processes, scoring models, and supplier audits

• Supplier qualification and approval processes

• Practical exercises and group discussions on supplier segmentation and selection

Day 3: Supplier Performance Management

• Setting performance metrics and KPIs for suppliers

• Monitoring supplier performance: Reporting, dashboards, and scorecards

• Techniques for performance improvement and supplier development

• Handling underperforming suppliers: Remediation strategies and contract management

• Role-playing exercises and case studies on supplier performance management

Day 4: Contract Management and Negotiation

• Importance of contracts in SRM: Types of contracts and key components

• Contract negotiation strategies and tactics

• Best practices for contract administration and compliance

• Managing contractual risks and disputes

• Simulation exercises on contract negotiation and role-playing scenarios

Day 5: Relationship Building and Continuous Improvement

• Building strong supplier relationships: Communication strategies and collaboration techniques

• Supplier development and innovation: Joint improvement initiatives and supplier involvement programs

• Continuous improvement in SRM processes: Feedback loops and lessons learned

• Creating a culture of excellence in SRM

• Group activities and discussions on relationship building and continuous improvement in SRM