Supplier Relationship Management
Delivers the Secret Sauce for Paint and Coatings Businesses
In September's edition of Paint & Coatings Industry Magazine, Simon Hardy, Elemica's Senior Solutions Architect, explains how a successful Supplier Relationship Management Program could be the "secret sauce" for Paint and Coatings Businesses.
In today’s global marketplace, success requires paint and coatings companies to pay attention to their supplier relationships and work with suppliers who will contribute to the long-term success of their business and the business of their customers. Making sure that the relationship with these suppliers runs smoothly and provides value for all is a key factor that leads to bottom-line profits. Supplier relationship management (SRM) is the approach to managing and interacting with your supplier to maximize the value of the partnership, minimize risk and manage costs through the entire supplier relationship lifecycle. The goal of a SRM program is to drive the ideal balance of inventory, working capital and service levels
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