Vendor Management Workflow Definition
Vendor management is the process of assessing supplier performance, defining and setting expectations for quality and delivery, and maintaining supplier performance records. In order to streamline this process and ensure consistent communication with suppliers, a vendor management workflow definition should be created.
This definition should include all steps in the vendor management process, from initial supplier evaluation to ongoing performance monitoring. Each step should be clearly defined, with specific roles and responsibilities assigned. This will ensure that everyone involved in the process understands their part in keeping supplier performance on track.
A well-defined vendor management workflow will help to improve communication between buyers and suppliers, avoid misunderstandings and errors, and ultimately lead to better supplier performance.
