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WISE logo
 
WISE by Royal 4 Systems is a rules-based warehouse management (WMS) system that is able to support a number of industries, including 3PL, automotive, food and beverage and industrial machinery. WISE helps users manage core warehouse... Read More
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WISE by Royal 4 Systems is a rules-based warehouse management (WMS) system that is able to support a number of industries, including 3PL, automotive, food and beverage and industrial machinery. WISE helps users manage core warehouse... Read More
 
3PL Warehouse Manager by 3PL Central logo
 
3PL warehouse manager is a cloud-based warehouse management system designed for third-party logistics companies to manage multiple customers, processes and billing schedules. The system enables access to real-time information and provides... Read More
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3PL warehouse manager is a cloud-based warehouse management system designed for third-party logistics companies to manage multiple customers, processes and billing schedules. The system enables access to real-time information and provides... Read More
 
Conga Contracts Contract Management logo
 
Conga Contracts is a hybrid contract lifecycle management (CLM) solution that helps organizations to generate, track, maintain and report on different business contracts. The solution can either be deployed on-premise or hosted in... Read More
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Conga Contracts is a hybrid contract lifecycle management (CLM) solution that helps organizations to generate, track, maintain and report on different business contracts. The solution can either be deployed on-premise or hosted in... Read More
 
Gatekeeper logo
 
Gatekeeper is a cloud-based vendor and contact management solution. Key features include automated alerts, customization and collaboration tools and integrations with other software.   Users can manage contracts and vendor information,... Read More
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Gatekeeper is a cloud-based vendor and contact management solution. Key features include automated alerts, customization and collaboration tools and integrations with other software.   Users can manage contracts and vendor information,... Read More
 
Procurify logo
 
Procurify is a cloud-based procurement solution that helps businesses track, control and manage spend. Businesses can centralize all purchasing information, while enabling team members to do their own purchasing. This real-time solution... Read More
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Procurify is a cloud-based procurement solution that helps businesses track, control and manage spend. Businesses can centralize all purchasing information, while enabling team members to do their own purchasing. This real-time solution... Read More

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Contract Insight Contract Management logo
 
Contract Insight is a contract lifecycle management solution developed by CobbleStone Systems. It can be deployed either on the customer’s premises (with perpetual licensing) or in the cloud (with monthly subscription licensing). Contract... Read More
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Contract Insight is a contract lifecycle management solution developed by CobbleStone Systems. It can be deployed either on the customer’s premises (with perpetual licensing) or in the cloud (with monthly subscription licensing). Contract... Read More
 
Slingshot Enterprise Business Suite logo
 
Slingshot Enterprise Business Suite is a cloud-based enterprise resource planning (ERP) solution for midsize to large businesses. The software offers an integrated suite with procurement and order fulfillment, supply chain planning,... Read More
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Slingshot Enterprise Business Suite is a cloud-based enterprise resource planning (ERP) solution for midsize to large businesses. The software offers an integrated suite with procurement and order fulfillment, supply chain planning,... Read More
 
WMS360 logo
 
Seldat’s WMS360 is a modular platform suitable for third-party logistics providers and warehouse operations of all sizes. Key features include inbound and outbound planning, inventory management and automated monitoring. The solution... Read More
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Seldat’s WMS360 is a modular platform suitable for third-party logistics providers and warehouse operations of all sizes. Key features include inbound and outbound planning, inventory management and automated monitoring. The solution... Read More
 
Fishbowl Inventory logo
 
Fishbowl is a hybrid manufacturing and warehouse management solution designed for small and midsize companies. Key features include inventory control, material requirements planning (MRP), job shop floor control, work order management,... Read More
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Fishbowl is a hybrid manufacturing and warehouse management solution designed for small and midsize companies. Key features include inventory control, material requirements planning (MRP), job shop floor control, work order management,... Read More
 
Oracle SCM Cloud logo
 
Oracle SCM Cloud is a cloud-based supply chain management solution that offers distribution, manufacturing, inventory management and fleet management within a suite. The product features product development, which allows users to... Read More
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Oracle SCM Cloud is a cloud-based supply chain management solution that offers distribution, manufacturing, inventory management and fleet management within a suite. The product features product development, which allows users to... Read More

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BPM logo
 

BPM

Bellwether Purchasing Software is an on-premise and cloud-based purchasing and inventory management solution. Primary features include requisitions, approval routing, purchase order management, receiving, invoice matching, inventory... Read More
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Bellwether Purchasing Software is an on-premise and cloud-based purchasing and inventory management solution. Primary features include requisitions, approval routing, purchase order management, receiving, invoice matching, inventory... Read More
 
Coupa Cloud Spend Management logo
 
Coupa is a cloud-based business spend management solution that helps businesses to manage their budget and spending for business services. Key features include e-procurement, expense management, expense report auditing, real-time benchmarking... Read More
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Coupa is a cloud-based business spend management solution that helps businesses to manage their budget and spending for business services. Key features include e-procurement, expense management, expense report auditing, real-time benchmarking... Read More
 
Infor Supply Chain Management logo
 
Infor provides supply chain solution designed for the enterprise-level organizations. It provides information on the details of the supply chain, forecast, planning, scheduling and execution. Infor SCM is suitable for a number of... Read More
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Infor provides supply chain solution designed for the enterprise-level organizations. It provides information on the details of the supply chain, forecast, planning, scheduling and execution. Infor SCM is suitable for a number of... Read More
 
TECSYS EliteSeries logo
 
EliteSeries is a user-friendly Supply Chain Management solution from TECSYS. In addition to flexible deployment options, open source architecture gives companies maximum flexibility to customize and integrate the system.
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EliteSeries is a user-friendly Supply Chain Management solution from TECSYS. In addition to flexible deployment options, open source architecture gives companies maximum flexibility to customize and integrate the system.
 
Halo logo
 
Halo offers a supply chain management analytics platform that helps businesses plan and forecast inventory needs. Deployment options for Halo include on-premise, SaaS (Software as a Service) or PaaS (Platform as a Service, which allows... Read More
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Halo offers a supply chain management analytics platform that helps businesses plan and forecast inventory needs. Deployment options for Halo include on-premise, SaaS (Software as a Service) or PaaS (Platform as a Service, which allows... Read More

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SAP S/4HANA logo
 
SAP S/4HANA is an integrated enterprise resource planning (ERP) software suite designed to serve businesses of size and kinds. SAP ERP is used to address the needs of many industry verticals including manufacturing, retail, service... Read More
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SAP S/4HANA is an integrated enterprise resource planning (ERP) software suite designed to serve businesses of size and kinds. SAP ERP is used to address the needs of many industry verticals including manufacturing, retail, service... Read More
 
HighJump Warehouse Advantage logo
 
HighJump Warehouse Advantage is an adaptable, process-based warehouse management system (WMS) designed to be tailored to companies’ unique business practices. Due to its modular design, users can pick and choose from a suite of applications... Read More
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HighJump Warehouse Advantage is an adaptable, process-based warehouse management system (WMS) designed to be tailored to companies’ unique business practices. Due to its modular design, users can pick and choose from a suite of applications... Read More
 
ShippersEdge logo
 
ShippersEdge is a cloud-based transportation management solution that manages shipping logistics. It helps users manage shipments, submit claims and handle multiple carriers. ShippersEdge helps companies save time and control costs.... Read More
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ShippersEdge is a cloud-based transportation management solution that manages shipping logistics. It helps users manage shipments, submit claims and handle multiple carriers. ShippersEdge helps companies save time and control costs.... Read More
 
POOL4TOOL logo
 
POOL4TOOL is a cloud-based supply chain management solution that manages the movement of information from clients to suppliers. It is suitable for midsize companies. It features supplier portal, workflow management, ERP integration,... Read More
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POOL4TOOL is a cloud-based supply chain management solution that manages the movement of information from clients to suppliers. It is suitable for midsize companies. It features supplier portal, workflow management, ERP integration,... Read More
 
Geneva Business Management Systems (GBMS) logo
 
Relationship management is no longer a chore thanks to GMBS’ easy-to-use interface. The ability to access data from GMBS on either a personal computer or a configured handheld device allows any user to track supplier efficiency.
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Relationship management is no longer a chore thanks to GMBS’ easy-to-use interface. The ability to access data from GMBS on either a personal computer or a configured handheld device allows any user to track supplier efficiency.
 

Buyer's Guide

by Lisa Hedges,
Content Analyst
Last Updated: April 21, 2018


Here's what we'll cover:

What Is Supplier Relationship Management (SRM) Software?
Common Features of SRM Software
Evaluating SRM Software

What Is Supplier Relationship Management (SRM) Software?

A contract between a supplier and its customer goes through many stages through its lifecycle. In order to remain competitive, organizations have to take special care in maintaining efficient and cost-effective partnerships with their partners. The only way to be certain that suppliers are holding up their end of the bargain is to consistently evaluate their performance, a difficult task made easier by SRM software. SRM systems help users keep suppliers on their toes by monitoring their operations and revealing poor performance.

Common Features of SRM Software

Like customer relationship management (CRM) software, SRM is designed to manage relationships from initial contact and throughout ongoing purchasing cycles. However, since you’re managing supplier information, rather than customer information, the data has markedly different focus, including material databases, ratings and more. Users looking for a system with more robust features might be interested in vendor management systems.

Specific SRM features include:

Performance assessments SRM programs will allow the user to utilize key performance indicators (KPI) to perform quality assessments and a thorough awareness of deviations.
Risk assessments Scorecards enable supplier segmentation by user-defined risk variables, helping determine which partners present the least risk in the most important areas.
Centralized sourcing & collaboration SRMs use a centralized information database to streamline bidding, consolidate and distribute contracts, track compliance and improve collaboration.
Regulation compliance High-quality SRMs use rules engines and compliance scorecards to reduce the burden and improve the success of compliance protocols.

Evaluating SRM Software

Global economic trends have had a direct affect on the SRM software market. Over the last few years, more organizations have turned to SRM software to establish new ways to reduce spending and limit risk. In order to maximize supplier performance and get the most out of their spending, organizations are using SRM systems to build informed reports that will give them the advantage during contract evaluation and renegotiation. Meanwhile, the necessity of international relationships has stretched supply chains across the world, and many SRM vendors have improved the functionality of their system to keep up with this trend.

The process of evaluating and mitigating risk has to be more thorough than ever. By assisting users with escalation scenarios and other risk analyses, SRM systems will help users deal with the unforeseen problems of global trade. When selecting your SRM software, ask the following questions:

  • Is your organization looking for an on-premise, client/server deployment, or are you interested in the capabilities offered by web-based or cloud deployments?
  • Will the system allow you to compare supplier performances using your own set of weighted variables?
  • Does the system offer the necessary functionality to meet the unique needs of your organization? For example, can it monitor supplier compliance for the specific regulations that your industry deals with?
  • Will the system’s capabilities support your existing corporate frameworks for managing supplier relationships?

Free Download:
Ten Steps Guide to Selecting the Right SCM Software

 

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