Expert picks of 7 supplier relationship management solutions

How retailers manage procurement ans supplier relationship? ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ Hi {NAME} , Purchasing has such strategic importance in keeping the business going and generating revenue all the while managing the company’s expenses. If the relationships with suppliers go sour, both parties can face significant loss of time and money. So building and managing good supplier relationships has great value for the whole company. Bad supplier relations can negatively impact on administrative costs, quality cost and processing time. Now is the time for you to start using an SRM system. Supplier data management: Maintain supplier information  —  keep supplier information & contact details up to date. Store all contracts & price lists in one location  —  one place for all supplier documents. Communication with suppliers is linked with supplier card  —  messages sent to supplier with responses, mentions and comments are all seen in one place and updated automatically. Supplier risk management: Monitor, alert, and mitigate supplier risks in real time, including operation and contractual risks Procurement management: Assign suppliers to provide a specific service or location depending on your criteria and data insights Track supplier execution status on their current purchase orders [More details]( ) Other useful articles [Sell physical gift cards]( ) How to sell physical gift cards to boost sales and customer experience. [Gift with purchase]( ) 7 steps to offer gift with purchase in retail. [Buy Online – Pickup In-store]( ) Understanding BOPIS and its benefits is important to all retail businesses. [Inventory forecasting]( ) How to forecast demand in general and on Magento. See Magestore POS in action With Magestore POS, retailers can manage all operations from one place and reduce manual tasks. Schedule a demo today to see how you can sync data between your Magento website and offline stores in real time. [Get Free Demo]( ) [Facebook]( ) [Linkedin]( ) [Twitter]( ) [Youtube]( ) This email was sent to {EMAIL} because you signed up for the latest retail tips & insights from Magestore. If you don't want to receive this newsletter in the future, you can [unsubscribe]( ). © 2023Magestore. All Rights Reserved. Magestore, 16F, Viwaseen Building, 48 To Huu Street, Nam Tu Liem District, Hanoi, , 100000, Vietnam