The relationship between supplier and customer is critical to both parties. But it most often falls on the customer to manage that relationship because while the supplier has plenty at stake, the customer has their own customers to consider. And if the product being delivered to the end customer falls short of expectation in any way, the customer will be the first to feel the impact. Supplier relationship management (SRM) is no longer just a ‘feel good’ part of the business. It’s critical and is being treated as such, and automated to a large extent. Having fast and accurate evaluation of supplier performance and acting in positive ways to either assure stability or taking quick action to avoid problems needs to be at the top of the list for companies that want to assure the best results for their own customers Here are four areas to pay attention to when managing the SRM.

The 2017 holiday season saw a significant increase in shopping, with nearly 80% of U.S. holiday shoppers buying gifts from Amazon, more than any other top retailer. Feeling the pressure to stay ahead of Amazon, many retailers began holiday promotions in early November but this approach can backfire.