Supply Chain Management Professional (SCMP) · Question
What is the primary purpose of 'supplier relationship management' (SRM)?
SRM focuses on fostering collaborative and mutually beneficial relationships with key suppliers to optimize value and performance.
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Question: What is the primary purpose of 'supplier relationship management' (SRM)?
Answer options:
- To minimize the number of suppliers used.
- To eliminate supplier competition. ✅ To develop and maintain strategic relationships with key suppliers.
- To constantly switch suppliers for better prices.
Correct answer: To develop and maintain strategic relationships with key suppliers.
Explanation: SRM focuses on fostering collaborative and mutually beneficial relationships with key suppliers to optimize value and performance.
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