One of the most common gaps within a Procurement strategy is a comprehensive Supplier Relationship Management (SRM) program.  The equivalent would be the complete absence of an Account Management strategy within your sales team. 

Without a SRM strategy, you will never develop the relationship and alignment with your key suppliers that is critical for meeting your customers’ technical and commercial needs. This creates competitive disadvantage and serious risk to future business as your team struggles to react to changing technology needs, price pressures, reshoring requirements, and rapid changes in demand.