Customer Relationship Management (CRM) and the Supplier Relationship Management (SRM) are different but similar models and are present, either one of them or both, in most of the organizations. Philosophy of CRM model considers the customer first, while that of SRM considers mutual profitability and meeting needs of the market. Customers and suppliers being two different entities with different properties and behaviors, organizations segregate handling of either one of them to different departments and often treat them is separate ways.

In contract management, however, the Contract Managers should be familiar with both these models as relevant, as the Contract Manager holds the prime responsibility of handling them professionally being the face of the organization with the customers as well as the suppliers.

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