Is Your SRM in a State of Flux? Maybe You Should Find Out!

Earlier this year we introduced you to State of Flux, a provider of Supplier Relationship Management (SRM) software and services, and the initiators of the SRM Research Report which we highlighted in our 3-part series that highlighted why you should focus on essentials, plan against the pillars, and be a customer of choice.

SRM is very important because supply chain success is ultimately dependent on your supply base. Your organization can have the best marketing and packaging in the world, but if the supply base delivers products that are rubbish, your organization’s brand reputation is tainted, and the damage can well exceed even double-digit savings identified during the sourcing phase.

But it’s not easy to effectively manage supplier relationships because SRM is more than just performance monitoring and corrective action management, it’s also nurturing, development, and partnership. Furthermore, effective SRM requires quite a bit of work to get a proper framework in place (as reinforced by Sigi Osagie’s recent Procurement Mojo), which will need to be implemented while keeping the ten essentials in mind that were highlighted in State of Flux’s 2014 SRM Report (and summarized in our post on the essentials).

And it’s even harder to find out how well you are doing until, of course, a major disruption or disaster occurs when a shipment doesn’t arrive or, even worse, arrives with a 10%+ defect rate (because, otherwise, it seems like everything is hunky-dory even when the relationship is spiralling out of control). But there is a way — you can proactively participate in the 2015 State of Flux SRM Research Report and get the full results ahead of the market. You can measure yourself against your peers, find out where the market is, and get the first insights into new best practices.

You have until June 26, 2015 to complete the SRM Survey, which, this year, is focused on helping you get executive sponsorship and support for SRM. Executive sponsorship is critical because SRM needs to be viewed as an organization enabler for the required transition management program to be adopted and enforced.

While this survey will take 45 minutes of your time, the reward is infinitely more valuable than the cost. This year’s publication was one of the most comprehensive compendiums of SRM insight ever produced with 216 pages of data, results, and expert interpretation. Imagine the value that will be yours, for free, as a participant in the seventh annual study.

So, follow the hyperlink and take the 2015 SRM Survey today. Given the depth of the work consistently produced by State of Flux compared to the average analyst report, you won’t regret it!