oboloo Glossary

Supplier Vendor Management

oboloo Glossary

Supplier Vendor Management

Supplier Vendor Management is the process of managing suppliers and vendors as integral business partners. This includes optimizing cost, mitigating risk, ensuring compliance with industry regulations and corporate policies, streamlining processes, and improving the quality of deliverables through active collaboration. Effective Supplier Vendor Management enables businesses to leverage their vendor relationships to gain a competitive advantage.