Requirements Framework: Supplier Management 101 (Part 2) [Plus+]

supplier lifecycle management phyZick/Adobe Stock

As a follow-on to our first installment of this series on supplier management, we describe our underlying requirements framework for supplier management processes and the related subprocesses that tend to get supported by solution providers who use terminology such as supplier lifecycle management (SLM), supplier information management (SIM), third-party management and other monikers. Our framework provides a holistic view of supplier management but aligns process-wise to SLM and data-wise to a subset of master data management (MDM). Within the SLM process cycle, we link out to other processes that have well defined solution provider markets, such as e-sourcing, contract life management (CLM), purchase to pay (P2P) and supply risk management, but we also dive into supplier engagement processes for not just supplier qualification and onboarding but also deeply into performance management, risk and compliance management and relationship management areas.

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