Supplier Management Models in procurement are systems and processes for managing relationships with suppliers. They enable organizations to make informed decisions about which suppliers to use and how best to leverage their resources. The models involve engaging stakeholders, collecting data, setting up a communication protocol, and establishing criteria for evaluating supplier performance. With the rightSupplier Management Model in place, organizations can ensure optimized supply chain operations, secure reliable materials and services that meet their needs, and reduce the risks associated with sourcing outside of the organization.