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Vendor Management Guide
What criteria should be used to evaluate vendors?
Vendor evaluation criteria are mostly made up of different factors such as cost, quality, delivery performance, support responsiveness, and compliance. These benchmarks serve as a guide for businesses in deciding whether a supplier can fulfil the set expectations. Vendor management software implements vendor evaluation criteria that allow scoring to be done consistently.
Related Procurement FAQs
What features should companies look for when choosing vendor management software?
What types of reports can be generated in a VMS?
Does the system support real-time analytics?
Can you track vendor spending using VMS?
