Answer ALL the questions in this section. TOPIC KANAHAB, a leading baby's food manufacturing company, has been facing challenges in its procurement processes. Inefficiencies in purchasing have led to delays in production and increased costs. To address these issues, the company has decided to revamp its purchasing process and strengthen its supplier relationships through effective Supplier Relationship Management (SRM). You have just started working at KANAHAB as a purchasing manager. Answer each of the following three questions with a concrete example to back up your response. Question 2 Discuss the various steps to Supplier Relationship Management (SRM) success. Use relevant examples from KANAHAB to support your answer.

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Supplier Relationship Management (SRM) success involves steps like supplier segmentation, setting clear objectives, building strong communication channels, performance measurement, collaboration and innovation, risk management, and continuous improvement. For example, KANAHAB can categorize suppliers based on their importance, define goals for cost reduction, hold regular meetings with suppliers, establish KPIs, involve suppliers in product development, assess risks, and continuously refine SRM processes.

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