What is strategic buyer in SAP SRD-SRM - SRM-Supplier Relationship Management?

SAP Term: strategic buyer

• Component: SRD-SRM

• Component Name: SRM-Supplier Relationship Management

• Description: An individual who plans and monitors procurement activities within an organization. A strategic buyer is, for example, responsible for sourcing suitable suppliers and for negotiating long-term contracts.

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• Key Concepts: 
  A strategic buyer is a type of user in SAP Supplier Relationship Management (SRM) who is responsible for the overall management of supplier relationships. This includes the negotiation of contracts, the monitoring of supplier performance, and the management of supplier risk. Strategic buyers are typically senior-level personnel within an organization and have a high degree of influence over the organization's purchasing decisions. 
  
  How to use it: 
  In SAP SRM, strategic buyers are responsible for setting up and managing supplier relationships. This includes creating contracts, setting up payment terms, and monitoring supplier performance. Strategic buyers also have the ability to set up risk management processes to ensure that suppliers are meeting their contractual obligations. 
  
  Tips & Tricks: 
  When setting up supplier relationships in SAP SRM, it is important to ensure that strategic buyers are involved in the process. This will help ensure that all contractual obligations are met and that suppliers are performing to the highest standards. Additionally, strategic buyers should be involved in any risk management processes to ensure that potential risks are identified and addressed in a timely manner. 
  
  Related Information: 
  For more information on strategic buyers in SAP SRM, please refer to the official SAP documentation on Supplier Relationship Management. Additionally, there are many online resources available that provide further information on how to effectively manage supplier relationships in SAP SRM.