Why SRM rarely delivers

Hey there,

This Week's Deep Dive​

Supplier Relationship Management (SRM) is our superpower.

Come to think of it, the most rewarding times I’ve had throughout my career, have been when I’ve delivered a supplier partnership that positively purred.

Coca Cola, Muller, Diageo - all game changing relationships that supercharged the category strategy and delivered incredible growth.

But in truth, Procurement teams rarely deliver SRM well.

We talk about it a lot, you’ll see in out objectives, you’ll just never see tangible outputs.

Instead of being the key value driver that unlocks business success, it becomes little more than a buzzword.

A lot of the time Stakeholders don’t even know what you mean by it

In this week’s deep dive I break down the 6 reasons SRM rarely delivers including:

• ill defined and lack of measurement

• failures of empowerment

• The talent shortage

And yes, by recognising these 6 reasons I hope you can use this deep dive to change the game in your organisation.

3-2-1 Procure Bites Resources

Here’s the best of the best resources I’ve found in the last week.

I’ve collated the best Procurement, Business and Life hacks that have caught my eye:

3 - Procurement Specific

• State of Procure Tech & Best-of- Breed vs All-in-One (Link)

• Stop Using PCards - The poisoned chalice of Procurement (Link)

• Nearshoring Shifts focus of Procurement leaders (Link)

2 - Business

• Why interest rates could stay higher for longer (Link)

• Price hikes & boycotts: Is trouble brewing at Starbucks? (Link)

1 - Productivity/ Life hacks

• The Millionaire Fastlane: Crack the Code to Wealth and Live Rich for a Lifetime (Link)

This last one is a book .

How I wish I’d read this 25 years ago. It has the power to change your life: it’s an affiliate link btw so if you buy through the link you also support my work (at no extra cost).

Hit reply to this e-mail with the words “Promo Package” or
click the button below and I’ll send you all the details.

ICYMI: My Last 3 Deep Dives

• Cat Man & Strategic Sourcing: How they should coexist (Link)

• Leading by context not by control (Link)

• My Ten Tenets to Success - how I changed my life in 6 Months (Link)

Read through all the Newsletter Deep Dives here.

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