This tool is designed to help assess the vendor management (VM) function at your organization. Identifying the current state, as well as the organization’s target state, of capability is an important step in planning for an improved VM function.
This self-assessment process involves establishing a capability rating for each process using:
- VM Standard Operating Procedures (SOP) as a baseline for process execution assessment (capability level 1)
- Defined capability levels (from ISO/IEC 15504)
- Process attributes used to rate each process (from ISO/IEC 15504)
- A standard rating scale (from ISO/IEC 15504)