Most organizations rely on vendors.
Most organizations rely on vendors to provide the goods and services that allow businesses to run successfully and usually, the larger the company, the more vendor outsourcing takes place. To get the most out of your vendors, and to manage them properly, you need to have a strategic approach to building and maintaining relationships with them.
You could be working with dozens, or even hundreds of different vendors, all with different contract terms, pay rates, and points of contact that must be efficiently managed. And that's where a good vendor management program comes in.
Most organizations rely on vendors to provide the goods and services that allow businesses to run successfully and usually, the larger the company, the more vendor outsourcing takes place. To get the most out of your vendors, and to manage them properly, you need to have a strategic approach to building and maintaining relationships with them.
You could be working with dozens, or even hundreds of different vendors, all with different contract terms, pay rates, and points of contact that must be efficiently managed. And that's where a good vendor management program comes in.
The term "vendor management" is used when describing the activities included in researching and sourcing vendors, obtaining quotes with pricing, capabilities, turnaround times, and quality of work, negotiating contracts, managing relationships, assigning jobs, evaluating performance, and ensuring payments are made.That is why effective vendor management requires a lot of skills, resources, and time.
Baltic Vendor Management OÜ (BVM) has a team full of skilled professionals that can help you evaluate your vendors and manage your purchase processes. Our aim is to achieve a win-win situation, where all parties of purchase processes are fully satisfied.
