For companies that utilize vendors, vendor compliance is a cornerstone of a well-managed business. Keeping a close eye on your vendors to ensure compliance at all times is crucial to limiting your organization’s risk and ensuring that everything runs smoothly....
What is Compliance? Within business, compliance is the confirmation that a service provider, or a manufacturer or supplier of goods, adheres to all requirements, regulations, legislation, and specific standards and policies of a contract or business relationship....
Vendor management is very complex, and with the increasingly important role of stable supply chains, this complexity will only increase. Technology-based systems and process re-engineering can improve efficiency and reduce some of the pain of complexity. However, with...
More and more companies are tracking their diverse vendor population and reporting on purchase percentages and total spend with these diverse vendors. Many companies have redoubled their efforts or started new initiatives to ensure their organizations have diversity...
