Supplier Relationship Management (SRM)
Supplier Working Relations
Supplier Relationship Management (SRM) and Supplier Working Relations are two terms that are used interchangeably, but in PPI’s view refer to two distinct sets of interfacing activities that occur between buyers and suppliers.
The preferred definition of SRM focuses on optimized collaborative processes and outcomes related to the multitude of activities that exist between a buyer and its suppliers.
Supplier Working Relations, on the other hand, is not defined in academic or managerial literature. It is a term that PPI developed to address the state of mutual and reciprocal interests between a buyer and its suppliers in the conduct of successful commercial interactions. The PPI definition thus exists within and among the overarching definition of SRM.