The SRM system is an information management system that shares and collaborates the information flow, logistics and capital flow between supply and demand through information technology and Internet means, and empowers each other to improve the relationship between enterprises and their upstream suppliers. The SRM system is applied to the front end of an enterprise's supply chain, mainly addressing issues such as multiple participating roles, scattered data, information asymmetry, opacity, untimeliness, lack of correlation, chaotic prices, high costs, low efficiency, poor collaboration, and difficulty in performance quantification in the procurement process. Its value lies in reducing the procurement and service costs for both supply and demand sides.
