free demo session call us to +919052666559 or +919052666558 or else mail to info@magnifictraining.com or visit www.magnifictraining.com
SAP SUPPLIER RELATIONSHIP MANAGEMENT (SRM)
SAP supplier relationship management (SRM) is used with enterprise resource planning (ERP), product lifecycle management (PLM) and supply chain management (SCM) applications to ensure an effective implementation of cross-application business processes. This chapter discusses how SAP SRM evolved from a B2B solution, defines the SAP components involved in SAP SRM, and explains how SAP SRM can help procurement professionals build strategic supplier relationships and streamline the procure-to-pay process.
SRM in SAP stands for Supplier Relationship Management. It is one of the parts of SAP Business Suite Software. It is based on the SAP NetWeaver platform hence it also known as SAP NetWeaver SRM. It is for strengthening the procurement processes of an organization by automating, accelerating of procure-to-pay processes for goods and services. It introduced many facilities for better co-ordination between the suppliers and business activities. SAP SRM will examine nd forecast purchasing behavior, it also shorten the procurement cycles, and work with your partners in real time. So it helps for building long-term relationships with the suppliers. The efficient processes-in SAP SRM enable you to cut down your procurement expenses and to work more intensively with more suppliers than ever before.
SAP SRM mainly deals with
• Self-Service Procurement
• Plan-Driven Procurement
• Service Procurement
• Strategic Sourcing
• Operational Contract Management
• Supplier Qualification
• Supplier collaboration
• Catalog Content Management
• Analytics
Three types of multilevel hierarchy structures are used in SAP SRM master data
• Product category hierarchies
• Supplier hierarchies
• Central contract hierarchies