Vendor management is the process that empowers an organization to take appropriate measures for controlling cost, reducing potential risks related to vendors, ensuring excellent service deliverability and deriving value from vendors in thelong-run.
This includes researching about the best suitable vendors, sourcing and obtaining pricing information, gauging the quality of work, managing relationships in case of multiple vendors, evaluating performance by setting organizational standards, and bringing transparency in the Vendor assessment process.
Enabling transparency, real-time data & communicationtraceability
SBSe-Procurement platform helps in building effective communication between Buyer and Supplier organizations to improve timely decision making in the enterprise.