Skip to content
Glossary

What is supplier management?

Companies focus on their core competencies and outsource certain parts of the value chain to suppliers. In general, supplier management refers to the effort to establish and further develop potential and/or existing supplier relationships.

A stable supplier relationship, resulting from efficient supplier management, is characterized by consistency, performance, and reliability in order to guarantee long-term supply security and on-time delivery, minimize procurement costs, and optimize procurement processes.