1 / 8

Vendor Management

Vendor Management application is designed for best vendor communication of services and workflows to enable OEM suppliers & Vendors association during the purchase life-cycle and thereby enhance vendor service, optimize prices and improve speed & quality.

RMM
Download Presentation

Vendor Management

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. RMM Technologies (P) Ltd

  2. AGENDA • Vendor Management • Vendor Management Process • Why is vendor management important? • Vendor management benefits • Vendor management benefits

  3. Vendor Management : • Vendor management describes the methods that organizations employ for managing their vendors which are also referred to as vendors. Vendor management involves actions like selecting vendors and negotiating contracts, managing costs, reducing risk associated with vendors and ensuring the delivery of services. • The vendors utilized by a business will differ greatly based on the needs of the business It could be comprised of companies such as seafood companies as well as IT vendors, cleaners or marketing specialists. Vendors also vary in size, from sole traders to large-scale organizations.

  4. Why is vendor management important? • The management of vendors is crucial due to a variety of reasons. In one sense, the management of vendors plays an important part in picking the right vendor to meet an individual business need. businesses can leverage the management of their vendors to meet objectives in the business, like maximizing opportunities to save money and adopting measures to improve the speed of onboarding. • Vendors should also be properly managed to minimize the chance of disruptions to supply chains and to ensure that the products and services supplied are provided on time and according to the standards expected. Beyond that, a well-designed process for managing vendors can aid companies in building better relationships with their vendors which could result in to opportunities to negotiate lower rates.

  5. Vendor management benefits • Improve vendor selection • Cost savings from harnesses • Speed up vendor onboarding • Reduce the chance of disruptions in the supply chain • Strengthen supplier relationships • You can negotiate better rates

  6. Vendor management Advantages • Quicker Processing times • Better Communication • Vendor Profile Maintenance • Larger Vendor Pool/increased Competition • Audit trails

  7. "If you sell what you do, you're a vendor. If you sell why you do it, you're a brand". Simon Sinek Thank you! More info: https://rmmindia.com/vms/

More Related