SAP SRM - Overview
SAP SRM (Supplier Relationship Management) is an SAP product that facilitates the procurement of goods through a web platform. Organizations can source all types of products such as direct and indirect materials, services and this can be integrated with SAP ERP modules and other non-SAP backend systems for accounting and planning.
SAP SRM enables you to optimize your procurement process to work effectively with suppliers to achieve long term benefits and also to forecast, cycle supply and work with partners. You can reduce the length and cost of the supply cycle by using innovative methods to manage business processes with major suppliers.
SAP SRM supports the full supply cycle, that is, from the source and purchase to payment through a comprehensive sourcing process with suppliers and effectively managing suppliers to build long-term relationships.
SAP SRM helps you focus on supplier performance management and helps you streamline procurement operations, comply with contracts and purchasing policies , and improve the overall cost of management and expenditure.
Key Benefits and Features
Here are the main advantages of SAP SRM -
Suppliers can easily manage catalog data and this data can easily be integrated with busin des processes such as accounting, finance and planning.
With the SAP SRP product, you can streamline the procurement-to-payment lifecycle and improve supplier communication and management costs.
End users can search for products using multiple product catalogs and help them find and purchase compliant products. the purchase of a company procurement policy.
Using SAP Supplier Relationship Management, you can create reports related to procurement activities, compliance and contract management , and cost management in the procurement process.
You can manage contracts using a secure central repository. This helps reduce compliance violations and enables end usersaux to follow business processes during self-service procurement.
Technical advantages of SAP SRM
Here are the technical advantages of SAP SRM -
- Live Auction Cockpit to perform real-time monitoring and bidding process in the procurement process.
- SAP NetWeaver Business Intelligence for performing data warehousing, analysis and web reporting.
- Easy transactions between SAP SRM and OLTP online transaction processing system.
- SAP auction engine to create quotes and process them.