What is SAP SRM?
SAP SRM is an abbreviation for SAP Supplier Relationship Management. It is crucial in supply chain management. This is because effective supplier relationship management concretizes supply chain processes. SAP supplier relationship management automates the entire procurement life cycle. With its automation capabilities, it streamlines a wide range of operations and other functionalities, from procurement to payment. It also provides goods and services, processes purchase orders and makes payments at the end through a payment gateway and an inventory management system. It enables effective interactions with suppliers of goods and services, as well as the development of strong relationships with suppliers.
SAP MM Vs SAP SRM | Difference Between SAP MM and SAP SRM
SAP MM helps companies optimize their material and logistics management procedures, guaranteeing effective and economical handling of items. SAP SRM stands for Supplier Relationship Management and is an efficient tool that helps companies optimize procurement operations and helps to improve relationships with suppliers and other business vendors.