How Vendor Management Professionals Can Help You
Vendor management is a process of controlling the activities surrounding suppliers of a company. Vendor management revolves around managing all and numerous suppliers of a business and works on issues such as contract terms, points of contact as well as pay rates. Vendor relationship management is conducted through the resources of a business. These resources refer to human interaction and technology such as software. Vendor management encompasses activities such as obtaining quotations, negotiating turnaround times, assigning of jobs as well as negotiating contract terms. Quality of work, researching and sourcing of vendors is some of the aspects associated with vendor management.
Vendor managers are responsible for ensuring that the business has all items needed to function in the office as well as production departments. They work with management as well as financing regarding budgeting on purchases to be made. They control stock level and ensure that payments of items ordered are not exceeded. Supplier managers ensure that the quality delivered by the vendor is in line with the agreement in place. Furthermore, they are able to use software such as Tradeshift, TradeGecko, IBM Emptoris, SAP Ariba and Gatekeeper (to name a few). On Guru, you are able to connect with numerous vendor management specialists.