Question: 1. What is SRM software and what is it used for? 2. Define and discuss the key functionalities (capabilities) of supplier relationship management software. Elaborate

1. What is SRM software and what is it used for?

2. Define and discuss the key functionalities (capabilities) of supplier relationship management software. Elaborate on each of the key functionality in your own words, explaining what it provides to the users and organization.

3. What are the two types of SRM software and what is the difference between them?

4. What are the key benefits of using SRM software in a organization?

5. What are the key challenges in implementing SRM software in a organization?

6. Provide examples of companies offering SRM software.

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