Vendor Management Best Practices
Regardless of what business you’re in, vendors play a key role in the success of your business. Using the following vendor management best practices to build a mutually strong relationship with your vendors will strengthen your company’s overall performance in the marketplace. Ignoring these sound vendor management principles could result in a dysfunctional relationship that could have the potential to impact your business negatively. Why Vendor Management Jetta Productions/Getty Images The time, money and energy used to nurture a positive vendor relationship cannot be measured directly against the company’s bottom line....