Guide to Supplier and Stakeholder Relationship Management, SRM, and Problem-Solving Tools

Description

This Skill Bit shows that successful contract management relies on strong supplier relationships (SRM) and applying process improvement principles from supply chain management for efficiency and smooth contract execution. Supplier Relationship Management (SRM) builds trust, fosters clear communication, and promotes collaboration with suppliers. It ensures alignment with strategy, utilizes feedback, and recognizes achievements for successful contract execution. Contract managers can solve problems effectively using root cause analysis, SWOT analysis, brainstorming, and fishbone diagrams to identify underlying causes, explore solutions, and ensure smooth contract execution.

Duration approx. 4 Min.

Tier: advanced