Supply Chain Management Professional (SCMP) · Question
What is the main goal of 'supplier relationship management' (SRM)?
SRM focuses on strategically developing and managing relationships with suppliers to extract maximum value and achieve mutual benefits.
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Question: What is the main goal of 'supplier relationship management' (SRM)?
Answer options: ✅ To develop collaborative relationships with key suppliers to maximize their value.
- To minimize the number of suppliers in the supply base.
- To exert maximum control over supplier operations.
- To always choose the supplier offering the lowest price.
Correct answer: To develop collaborative relationships with key suppliers to maximize their value.
Explanation: SRM focuses on strategically developing and managing relationships with suppliers to extract maximum value and achieve mutual benefits.
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