vendor management system
by wpadmin
February 12, 2023
« Back to Glossary Index
Vendor Management System: A Vendor Management System is a software application or platform used to manage and oversee the relationships with suppliers, contractors, and other third-party vendors. It provides a centralized repository for contract information, performance metrics, and other relevant data, and enables organizations to monitor vendor performance, manage costs and budgets, and continuously improve the vendor relationships to ensure the organization receives the best possible value for its investments.
« Back to Glossary Index