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Vendor Management Guide
How do you create an approved vendor list (AVL)?
When a vendor is approved, it usually comes after the screener has gone through the vendor approval process and then finally approving suppliers based on the set organizational criteria. Once approved, suppliers will be added to the official list from where future purchases will be made. Employing vendor management software will effortlessly complete the vendor approval process.
Related Procurement FAQs
How much does vendor management software typically cost?
How does vendor management software measure vendor performance?
What KPIs can be tracked using VMS?
How does the system support vendor scorecards?
How does a VMS identify and monitor vendor risks?
Does the software support SLA tracking and reporting?
Is vendor management software suitable for small businesses?
How scalable is a vendor management system for growing companies?
