SRM Sourcing is an approach used in procurement where a business works with an individual supplier or preferred provider over the long term. By doing this, the business can establish a trusted relationship and ensure that the supplier provides quality products and services at competitive prices. This type of relationship also allows companies to better understand the needs of their suppliers, so they can negotiate improved terms, streamline processes, and get greater value from their investments. SRM Sourcing is changing the face of procurement and transforming the way businesses interact with their suppliers.