Which of the following is an outcome of effective SRM?

An effective Supplier Relationship Management (SRM) strategy fosters strong partnerships with suppliers, leading to improved collaboration. When organizations invest in developing their supplier relationships, they often benefit from enhanced communication, better alignment of goals, and increased trust. This collaboration can result in several positive outcomes, such as innovation, joint problem-solving, and improved responsiveness to market changes.

Additionally, effective SRM can create a more streamlined supply chain process, allowing for better negotiation terms, shared risk management, and collaborative planning, which ultimately contribute to a more efficient and effective operational framework. Consequently, organizations that excel in SRM typically see strengthened supplier ties that lead to long-term success and competitive advantages.