Maximize the Value of Vendor Relationships – Phase 1: Assess Current Vendor Management Capability

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Before optimizing your vendor management program, assess your current capabilities, determine what level of vendor management maturity is right for the organization, and identify vulnerabilities to risk.

This phase will help you:

  • Map the current vendor management process.
  • Consolidate your vendors into a central inventory.
  • Identify a target maturity for the vendor management program.
  • Assess the risk of individual vendors and establish a holistic view of vendor risk.

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VL Methodology