Establishing stable relationships with stakeholders is critical to procurement processes as it can make or break the flow of business. V The scope of vendor management in procurement has seen a great transformation Therefore, vendor collaboration is essential for ensuring that sound procurement processes are in place. Right from sourcing to acquiring products and closing out contracts, procurement processes should be streamlined to ensure increased organizational profitability.
The scope of vendor management in procurement comes to play in this regard. In the upcoming webinar, the relationship between procurement and vendor management would be discussed along with sound practices to bring forth quality operations.
- Monitoring and approving purchase requests.
- Managing vendors and procurement negotiation.
- Quality assurance.
- Invoicing and payment.
- Record keeping.