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In today’s dynamic business landscape, where supply chains are increasingly complex and customer demands ever-evolving, Vendor Relationship Management (VRM) has emerged as a strategic imperative for organizations seeking sustained growth and competitive advantage.
Far from being a transactional function, VRM is the systematic approach to building, maintaining, and optimizing relationships with vendors to ensure mutualsuccess.
A robust VRM strategy enables organizations to optimize costs, enhance supplier performance, and mitigate risks, creating a resilient supply chain that adapts to change with agility.
At its core, VRM transforms vendors from mere service providers into strategic allies who contribute to innovation, operational excellence, and shared value creation. VRM can contribute to a sustainable economic growth.
This booklet explores the critical role of VRM in modern organizations, the basis to secure when creating a VRM function, the best-practices related to advanced practices (top vendors management, collaboration, innovation, sustainability, etc.) and the importance and the methodologies to create a strong SDP (Supplier Development Program) and LC (Local Content) programs.
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