Vendor Management and Procurement – A Combination You Cannot Ignore

Vendor Management and Procurement – A Combination You Cannot Ignore

Vendor management is essential for the smooth functioning of an organizational supply chain and related value addition processes. Chief procurement officers (CPOs) must take into account the suppliers’ capability, delivery time, and production practices while selecting a vendor or a supplier. Earlier, the procurement function knew very little about their suppliers or what they did. […]

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