Vendor Management Standard Operating Procedures

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This template provides a starting point for organizations seeking to create a set of standard operating procedures (SOP). It provides process descriptions, workflows, and RACI charts for each of the seven VM processes:

  • Sourcing governance
  • Manage sourcing strategy
  • Select vendors
  • Manage vendor contracts
  • Manage vendor relationships
  • Manage vendor risk
  • Manage vendor performance

Customize these SOP to fit your organization’s needs.

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