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Basic principals of Vendor Management?

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تم إضافة السؤال من قبل Irfan Khan , SR. PROGRAM MANAGER , Automotive Industry
تاريخ النشر: 2014/07/23
khaled Ibrahim Sayed Abd El Salam Ibrahim
من قبل khaled Ibrahim Sayed Abd El Salam Ibrahim , Chief Accountant , -ElMehy engineering company

Always make (( AP aging )) in order to classfiy your vendors and how you can manage them.

Salauddin Mohammad
من قبل Salauddin Mohammad , Sr. Manager, Software Development , Aspen Technology Inc

Following are few best practices:

1. Continuously manage contractual relationships with suppliers

2. Treat suppliers as an extension of internal resources

3. Use the minimum number of suppliers possible

4. Select the highest value supplier, not the lowest purchase price

5. Negotiate win/win deals with all suppliers that balance risk, speed and performance

6. Actively monitor, manage and improve supplier performance

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