VRM stands for Vendor Relationship Management – the ‘flipside’ of Customer Relationship Management. Customers and vendors are in a locked see-saw with one side hugely outweighing the other. Like with a real world see-saw in such position, the fun is spoiled for both. VRM supports creation of tools that equip the individual and minimize the control one party has over another in a relationship. It aims to create a more efficient and balanced relationship between business and their customers, markets and companies, demand and supply.
I’ve been following some of the discussions around VRM and it strikes me as one of those things with many layers of complexity that might turn out to be jolly important. Reassuringly, lots of mates who I can certify as non-jargon speakers are attending – so I plan to be there in expectation of enlightenment. And possibly mischief.