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The Impact of Supplier Relationship Management on Reducing Procurement Lead Times in High-Pressure Markets

Author(s) Haroon Rashid
Country United States
Abstract Procurement lead times in high-pressure markets, where rapid response and fulfillment are at a premium, may have significant impacts on the performance and competitiveness of an organization. SRM has emerged as a strategic approach in mitigating delays and enhancing supply chain efficiency. The following study looks at how SRM helps reduce procurement lead times through the building of collaborative partnerships, enhanced communication, and the use of advanced technologies such as predictive analytics and real-time data sharing. It shows how trust, transparency, and long-term commitment between buyers and suppliers help in proactive problem-solving and adaptability to market dynamics. Empirical evidence from manufacturing, retail, and technology sectors demonstrates the tangible benefits of effective SRM practices in smoothing procuremen workflows and minimizing disruptions. The findings emphasize the need for the integration of SRM into procurement strategies to achieve agility and resilience in demanding environments.
Keywords SRM, lead times in procurement, high-pressure markets, supply chain efficiency, collaborative partnerships, predictive analytics, real-time data sharing, agility, resilience, supply chain adaptability.
Field Business Administration
Published In Volume 5, Issue 6, June 2024
Published On 2024-06-05
Cite This The Impact of Supplier Relationship Management on Reducing Procurement Lead Times in High-Pressure Markets - Haroon Rashid - IJLRP Volume 5, Issue 6, June 2024. DOI 10.5281/zenodo.14769510
DOI https://doi.org/10.5281/zenodo.14769510
Short DOI https://doi.org/g83ktb
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