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...
Does your company view vendor management as just another back-office function administered by procurement and accounts payable? Is your company putting your organization’s supply chains at risk with unstable suppliers? Are you missing out on opportunities for...
The financial back-office – accounts payable, accounts receivable, procurement, payroll, etc., is often considered necessary but not strategic. As a result of this view, the back office doesn’t get the executive exposure needed to unlock the value hiding...
An important part of smooth operating supply chains is onboarding and managing the vendors that are key to your organization’s success. Once onboarded, all key stakeholders from procurement (purchasing), finance (accounts payable), and the vendor must...
What are Vendor Packets? A vendor packet is a collection of forms and documents that a buyer sends to a potential new vendor to gather the required information to establish a business relationship. These packets generally include all the necessary information to set...
