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What Is Supplier Relationship Management (SRM)?

ProjectManager.com

If you’re a manufacturer, you need to know about supplier relationship management (SRM). That’s why managing your relationships with suppliers and vendors is critical to keeping a manufacturing enterprise viable. What Is Supplier Relationship Management? Cost Savings.

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Creating a Request for Quote (RFQ) for Procurement

ProjectManager.com

Suppliers and contractors deliver those products and services that help fulfill the project. Managers want to stay on budget and resources cost money, which is why they use a request for quote (RFQ) to get pricing from suppliers and contractors. Projects need resources, often consistently. What Is a Request for Quote (RFQ)?

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What Is a Sales Order? (Example & Template Included)

ProjectManager.com

The sales order process, which we’ll cover in a bit, needs management to ensure that vendors and customers get what they want. But first, it’s important to have software that can manage the sales order process to ensure that goods are delivered on time and paid for as determined in the sales order terms. We’ll get to that next.

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Purchase Management: A How-To Guide With Best Practices

ProjectManager.com

Purchase management is critical to keeping an organization well-supplied. From purchase orders to inventory management, there needs to be a process to keep teams equipped with necessary supplies. How do you manage the purchase order processing? What Is Purchase Management? Benefits of Purchase Management.