SAP SRM Overview - SAP SRM

How do you define SAP SRM?

SAP SRM (Supplier Relationship Management) is a SAP product that provides procurement of goods via a web-based platform. SAP ERP modules and other non-SAP backend systems for accounting and planning can be used in the organizations to get all type of products like direct and indirect material, services. This tutorial explains about the basics of SAP SRM and how to deal with its various modules and sub-modules.
SAP SRM enhances the procurement process to work in an efficient way with suppliers and get long term benefits to work on forecasting, procurement cycle and to work with partners. It helps to minimize the time span and costing of procurement cycle by using advanced methods to control business processes with key suppliers.
SAP SRM works on full procurement cycle beginning from source and purchase to pay through complete procurement process with suppliers. It also manages supplier in building long-term relationship.
SAP SRM supports to finding the supplier performance management and streamlining the procurement operations, put compliance with contracts and purchasing policies, and improve overall cost management and expenditure.

Key Benefits and Functionalities

SAP SRM offers several benefits and key functionalities with the integration of other SAP ERP modules and non-SAP systems for planning and optimization.
Following are the key benefits of SAP SRM −

Catalog Management

Catalog management is useful control catalog data with the integration of other business processes like accounting, finance and planning.
Procure to Pay Optimization
With this you can be authorized to pay lifecycle and improve communication with supplier and cost management.

Self Service Procurement

You can search products with multiple product catalog to explore and purchase product which is compliant with purchase and procurement policy of the company.

Reporting Functionality

SAP SRM facilitate to generate reports related to procurement activities, compliance and contract management, and managing costing in procurement process.

Contract Management

Contract management is useful to manage contracts with secure central repository. With this you can minimize the compliance violations and allows end-users to follow business processes during self-service procurement.
contract_management

Technical Benefits of SAP SRM

Here are the technical benefits of SAP SRM −
  • Live Auction Cockpit to perform real time monitoring and bidding process in procurement process.
  • SAP NetWeaver Business Intelligence to perform data warehousing, analytics and web-based reporting.
  • Easy transactions between SAP SRM and online transaction processing system OLTP.
  • SAP bidding engine to create quotations and to process them.

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