Key account management (KAM) is a supplier-led process of inter-organisational collaboration that creates value for both supplier and strategically important customers by developing relationships that offer individually tailored propositions designed to secure long-term profitable business through the co-ordinated deployment of multi-functional capabilities.
A key account is an external organisation which is individually of strategic importance to the supplier.
A key account manager is responsible for the supplier’s relationship with at least one key account (and less than 5).