Enterprises are dependent on vendors to obtain IT hardware, software, and services. The Vendor Management process includes the identification, selection, contracting with, and ongoing management of vendors or suppliers, and is an essential part of the IT management process.

Vendor Management has four steps:

  1. Plan the Purchase.
  2. Identify Vendor Candidates.
  3. Obtain Proposals.
  4. Select the Preferred Vendor.

When you have completed these steps, you will have a solid understanding of what actions you should take when selecting vendors.

Related Content

Hide Details

Search Code: 9816
Published: May 11, 2009
Last Revised: May 11, 2009


Get Access

Get Instant Access
To unlock the full content, please fill out our simple form and receive instant access.
Visit our COVID-19 Resource Center and our Cost Management Center
Over 100 analysts waiting to take your call right now: 1-519-432-3550 x2019