What type of supply chain management focuses on optimizing procurement and supplier relationships?

Supplier Relationship Management (SRM) is a critical component of supply chain management that specifically emphasizes the strategies, practices, and processes necessary to manage and optimize a company's interactions with its suppliers. SRM seeks to establish and maintain mutually beneficial relationships with suppliers, ensuring that both parties can achieve their goals effectively.

This type of management focuses on several key aspects, such as evaluating supplier performance, negotiating contracts, and fostering collaboration to improve product quality or reduce costs. By nurturing these relationships, companies can enhance efficiency, drive innovation, and mitigate risks within their supply chain.

In contrast, the other options address broader or different aspects of supply chain management. Operations management encompasses all activities involved in the production of goods and services, while strategic management pertains to long-term planning that may not focus solely on procurement. Logistics management deals primarily with the transportation and storage of goods within the supply chain, rather than the relationship aspects with suppliers. Hence, Supplier Relationship Management is the most relevant choice when it comes to optimizing procurement and supplier relationships.