Supplier Agreement Management (SAM)
Identifies and selects qualified suppliers, establishes clear agreements, and oversees the collaborative activities between supplier and acquirer throughout the duration of the contract, ensuring alignment and maximizing the likelihood of mutual success for both parties.
Supplier management activities encompass selecting qualified suppliers, establishing and executing supplier agreements, overseeing technical activities and performance, accepting delivered products, and managing invoicing processes. The supplier agreement creates a shared understanding between the acquirer and supplier, forming the basis of their collaborative relationship. This agreement clearly defines the processes, roles, and responsibilities, allowing the acquirer to effectively monitor supplier activities, track deliverable progress, ensure compliance with agreement standards, and promptly resolve any arising issues.