A framework for supplier relationship management (SRM)
Abstract
We perceive growing expectations concerning the impact of the purchasing function and the suppliers on overall value creation of a firm. Purchasing is the gateway between the external suppliers and the internal functions creating and delivering value for customers. This shift has incredibly enhanced the importance of the supplier base. While the old arm length collaboration is perfectly suitable for some suppliers others should be treated as close partners. However, an overall framework of Supplier Relationship Management (SRM) integrating such different types of suppliers along the course of the relationship remains desirable. Our research aims to contribute by developing a framework for Supplier Relationship Management. For this purpose we are adapting and applying insights from Customer Relationship Management (CRM) as well as existing findings in supplier management literature. Finally, managerial implications and future research avenues are discussed.