
259Procurement/Purchasing
• Supplier relationship management (SRM)
• Supply chain coordination and collaboration (Kocabasoglu and Suresh 2006;
Strategic Direction 2005)
Contemporary purchasing is more oriented to building long-term relationships with
fewer, but more dependable suppliers. While there is continued, and sometimes erce,
insistence on low prices, there is a need to include other criteria in describing the good or
service being purchased. In the broadest sense, the relationship is designed to work for the
long-term well-being of the entire supply chain. This is a broad assignment and requires
an extensive change in the orientation ...