Maintaining a healthy relationship with suppliers is pivotal for businesses to ensure their long-term sustainability in a competitive market. For businesses that rely on suppliers for their offerings, whether products or services, supply chain software development services play a crucial role in optimizing these relationships.
Supplier Relationship Management (SRM) software, developed through customized supply chain solutions, helps manage vendor bases, identify areas for improvement, and track supplier performance. As businesses increasingly recognize the value of such software, the adoption rate and market size of SRM solutions continue to grow, driving better efficiency and collaboration within the supply chain.
A report claims that the SRM software market size is likely to increase up to $17.99 billion in 2028 at a CAGR of 10.4%.
Let’s delve into a complete guide to supplier relationship management software. We have covered everything here, right from basics to development steps and benefits of this software for business.
What is Supplier Relationship Management Software?
Supplier relationship management software is a type of software …