The Vendor Heat Map is designed to provide a visual representation of vendor relationships. Based on your answers to a series of questions about your organization, the tool will evaluate the importance of each vendor relationship.
You will be asked to answer specific questions in four key areas, including:
- Vendor annual spend
- Vendor business impact
- Vendor performance
- Vendor relationship
Not all vendors should receive equal attention. Vendor segmentation allows you to identify the ones that should get the most attention and spend the appropriate amount of effort and time managing those relationships.