Optimizing Supplier Relationship Management for Cost Reduction in a Manufacturing Company: A Case Study

Thesis Abstract

Abstract
This thesis explores the optimization of Supplier Relationship Management (SRM) strategies for cost reduction within a manufacturing company. The study focuses on analyzing the current SRM practices of a selected manufacturing company and proposes recommendations for enhancing the efficiency and effectiveness of supplier relationships to achieve cost reduction objectives. The research methodology employed a case study approach, utilizing interviews, surveys, and document analysis to gather data from key stakeholders within the organization. Chapter 1 provides an introduction to the research topic, outlining the background, problem statement, objectives, limitations, scope, significance, structure of the thesis, and definition of key terms. Chapter 2 presents a comprehensive literature review on SRM, cost reduction strategies, supplier performance evaluation, and best practices in supplier relationship optimization. In Chapter 3, the research methodology is detailed, including research design, data collection methods, sampling techniques, data analysis procedures, ethical considerations, and limitations of the study. The findings from the data analysis are discussed in Chapter 4, highlighting the current challenges in SRM faced by the manufacturing company and identifying opportunities for improvement to achieve cost reduction goals. The study concludes in Chapter 5 with a summary of key findings, implications for practice, recommendations for future research, and a conclusion that emphasizes the importance of effective SRM in driving cost reduction initiatives within manufacturing companies. Overall, this thesis contributes to the existing body of knowledge on SRM and provides practical insights for organizations seeking to optimize their supplier relationships for cost savings and improved performance.