Walmart Supplier Relationship Management

SUPPLIER RELATIONSHIP MANAGEMENT

Supplier Relationship Management (SRM) is an extended procurement process, such as sourcing analytics, sourcing execution, procurement execution, payment and settlement and-closing the feedback loop-supplier score carding and performance monitoring. With the increasing of latest technology, it capable to integrate and enhance supplier oriented processes along the supply chain and help companies determines their most important suppliers. Hence, SRM involves streamlining the processes and communication between the buyer and supplier and using software applications that enables these processes to be managed more efficiently and effectively. There are several issues that occur in Wal-Mart’s supplier relationship

 Walmart must do record any suppliers accountable when they start to purchased any product from their supplier. It is to ensure that product purchase is right in quantity with right product and quality too. It also will reduce in excessive product stock in walmart inventories. Thus, they can manage their account correctly and estimate the time when they have to add on their products in their mart.

 Walmart also must improve in their supply chain transparency by requiring suppliers to identify the names and adrresses of all factories, farm, fishing vessels or other entities that contribute to the product being purchased. It is to alert the walmart if there is any problem arise during the product delivery. Beside it is also to alert the walmart if there is any fraud occur on this business, walmart can take an action according law to the supply chain as they have a complete details on data transparency.

 Walmart also should prioritise in buying product, for example buying food from suppliers that use sustainable practices. It is to ensure the product purchased is from quiet quality raw

 In buyer-supplier relationship, transparency is most quite good method to build trust between supplier and Walmart.

 For example, Walmart use fully integrated procure-to-pay system, procurement is able to access real-time information from the suppliers. By this technology, Walmart can save time as they can directly inform the supplier what they need and want. It is also can manages high volume of order and creating efficiencies on both side.

 By this platform, it can simply the basic tasks like ordering more suppliers and renewing contracts. Thus, Walmart do not have to worry again if thye are lack in data transparency as with this platform and technology, the data can be key in automaticaly.

• Enables benchmarking of suplier’s performance

 Walmart can evaluate their best suplier performance and give an award to them for being a good supplier that provide a quality product for them.

 By benchmarking the supplier performance, Walmart can observe trends and catch problem immediately hence, Walmart can take an action to overcome it.

 Beside it is can also raise the spirit of supplier to increase their performance and supply a good product with good