Business Relationship Management describes the approach used to ensure that the appropriate mechanisms are determined to manage the relationship between the service provider and the customer. It illustrates the steps that enable you to constantly remain aware of business needs and major changes in order to respond properly to these requirements.
Suppliers are involved in every business activity and they contribute in ensuring that a company maintains a constant flow of goods and services. The goal of Business and Supplier Relationship Management is to streamline and improve the efficiency of processes taking place between the organization and its suppliers. Furthermore, the aim of Business and Supplier Relationship Management is to ensure delivery of consistent and seamless quality services. Supplier Relationship Management entails building a greater collaboration with the suppliers and enables you to identify new values and reduce the risk of failure