Market and client requirements for products are changing with increasing frequency. Purchasing departments can no longer be considered as having merely a supplier function, but must approach their tasks strategically. This means that resource markets and suppliers must be purposefully developed and maintained. With an efficient Supplier Relationship Management (SRM) higher standards and better prices can be achieved.
According to www.wikipedia.org
"Supplier relationship management (SRM) is the discipline of strategically planning for, and managing, all interactions with third party organizations that supply goods and/or services to an organization in order to maximize the value of those interactions. In practice, SRM entails creating closer, more collaborative relationships with key suppliers in order to uncover and realize new value and reduce risk of failure."
(Supplier relationship management. (2016, June 24). In Wikipedia, The Free Encyclopedia. Retrieved 07:55, August 16, 2016, from https://en.wikipedia.org/w/index.php?title=Supplier_relationship_management&oldid=726778840)
In order to cope with the challenges of supply management, purchasing divisions need powerful systems, such as LCM Purchase of the businessApp platform LCM.
LCM Purchase is a spezialized application of the businessApp platform LCM which particularly supports strategic and tactical procurement tasks and improves operational processes and information through exchanges with data from ERP systems. The strategic purchasing process is sustainable and transparent improved and optimized.
With LCM Purchase, users achieve more transparency, reporting improvements and a reduction of the purchase prices and the internal procurement costs. Additional optimization potentials can be implemented in the contract management, supplier evaluation and supplier connection areas. LCM Purchase provides valuable support for the exercise of the procurement function in corporations.
The management of contracts in the procurement process is particularly supported by the integration of existing ERP environments using creditors/debtors master data or harmonization of systems. Integration and usability avoid duplicate data maintenance and facilitate easy handling.