Vendor Centric Blog

Our blog provides practical advice for optimizing relationships with vendors and other third parties. Learn about best practices in procurement, contract management, third-party risk and much more.

what is vendor management

Vendor Lifecycle Management

What is Vendor Management?

If you’re finding it difficult to find a clear and succinct definition of vendor management, you’re not alone. With so much written about vendor management technology, there hasn’t been enough focus on the discipline itself. This blog provides a succinct, modern definition of vendor management, along with an overview of the practices and infrastructure necessary to support a well-run vendor management function...

what is vendor management

Vendor Lifecycle Management

What is Vendor Management?

If you’re finding it difficult to find a clear and succinct definition of vendor management, you’re not alone. With so much written about vendor management technology, there hasn’t been enough focus on the discipline itself. This blog provides a succinct, modern definition of vendor management, along with an overview of the practices and infrastructure necessary to support a well-run vendor management function...

Third-Party Risk

4 Third-Party Management Reports You Should Provide to Senior Management

A third-party management program (TPMP) is a valuable business function within any organization. As your TPMP grows and matures, you’ll ...

Third-Party Risk

The Importance of Third-Party Risk Management When You Buy or Sell a Business

I recently participated in an Exit Readiness podcast that two of my colleague’s host. You can find the podcast here ...

Contract Management

Questions to Ask When Preparing a SOW

The Statement of Work (or SOW) is one of the most important documents you will develop during your relationship with ...

RFP

Procurement Management

Use Your RFP Process to Reduce Third-Party Risk

A good RFP helps you flush out potential vendor risks early in the evaluation process. Here’s how you can make your RFP an effective risk ...

Vendor Lifecycle Management

Rethinking Vendors Has Always Been in Style at Zappos

Zappos leverages the power of great vendor relationships to create phenomenal results. Check out their approach to ‘rethinking vendors’

Procurement Management

Understanding Critical Procurement KPIs

First, we need to differentiate metrics and KPIs. While they’re often used interchangeably, these two terms are distinct in how they should be used.

Procurement Management

The Benefits of Supplier Diversity in Procurement

Now more than ever before it is a smart move to balance your third-party/supplier portfolio with a healthy mix of these diverse businesses.

Procurement Management

The Do’s and Don’ts of Presenting Procurement’s Data

Want to make an impact and foster a new sense of collaboration? Check out these best (and worst) practices for reporting on Procurement’s efforts.

procurement

Contract Management

6 Best Practices for Using Nondisclosure Agreements During the Procurement Process

Are you protecting your organization’s nonpublic information during the procurement process? These NDA best practices will point you in the right direction