SAP SRM offers one of the best means of planning and managing the various aspects and interactions of an organization with the key suppliers of raw materials, goods and services. This SAP module helps in better coordination of diverse Business Processes with vendors and other external parties, thus establishing stronger tie ups and creating the right grounds for maintaining long term relationships with the primary suppliers of the enterprise. Having its roots in B2B solutions, SAP SRM appropriately defines the various SAP components, explains the ways of building strategic supplier relationships and streamlines the relevant procure-to-pay processes.
The Benefits and Features of SAP SRM include:
It enables an organization to negotiate on contracts, interact with suppliers, streamline the tasks of Purchasing, manage inventory/delivery and facilitate product designs.
The SRM software is also helpful in automating and systematizing the tasks of acquiring goods and designs, reducing the errors in purchases and thereby increasing the overall efficiency of the functionalities of the inventory and supply chain systems.
SAP SRM offers innovative and creative methods that go a long way in helping better coordination of all business processes linked with the supplies of services and goods. SRM tools are being increasingly used for automating the tasks on hand and smoothening out the processes of acquisition of product designs, goods and other materials - thus paving the path for long term beneficial relationships with all suppliers.