What is Vendor Management?
At its simplest, vendor management is the process that organizations undertake to more effectively manage relationships with their vendors. Vendor management has become increasingly important as companies continue to outsource more of their business functions, particularly in the financial industry, where the organization has to comply with external requirements from auditors and regulators. Risk management and contract management are also closely tied to vendor management.
Please note that there is also vendor management software that focuses on staffing concerns, contingent workforces, etc. Typically referred to as a VMS (view Wikipedia article), it is nevertheless outside the scope of what we're discussing here.
Vendor Management Research & Articles
Last updated on: Aug 10, 2010
- Gartner: Look to vendor management programs to reclaim the upper hand
- Gartner: Vendor Risk Management is becoming a core enterprise competency
- Vendor Management at Gartner
- CUNA - Four Steps to Successful Vendor Management
- CreditUnions.com - Building a Vendor Management Plan
- Credit Union Times - Vendor Management: Necessary for Compliance, Critical for Success
- PricewaterhouseCoopers - Managing risk: internal controls for private companies
- Plante & Moran: Vendor Risk Analysis Tool
- ComputerUser: Key Vendor Risk Analysis Activities are Vital
- IT Vendor Risk Management
- Vendor Risk Assessment - Managing Vendor Security
- Jefferson Wells: Vendor Risk Management
- FinanceTech: Post-Crisis, Banks Paying Close Attention to Vendor Risk When Choosing Tech Partners
- Vendor Risk Assessment – Managing Vendor Security
- How's Your Vendor Relationship Program?
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