Supplier Lifecycle Management (SLM) is an in-depth process of managing suppliers, the goods and services they provide, and the relationships between them throughout their entire life cycle. SLM looks at all aspects of supplier performance, from product quality and compliance, to cost control and delivery times, to build a successful relationship that benefits both parties. By incorporating streamlined processes into the SLM system, businesses can ensure they are getting the best value for their money and that their suppliers are providing excellent service. With SLM, businesses can have confidence that their suppliers will meet their needs now and in the future.