What is the process of vendor management?

I believe following would be helpful to you:1) How many existing vendors do you have?2) How many are long term partners and how many are short term partners?3) Are there any problems being face from exisitng vendors? (in terms of Delivery, Price Negotiation or Quality of the raw material sourced)4) Does the Vendoer Meet the Vendor Evaluation Standards5) Does the vendor have technical knowhow and relevant expertise?6) Who else does the vendor serve in the relevant industry? i.e. (among the top tier rival firms) Do they offer the competitors different rates as compared to yours, if so; then why? Answers to the above question could lead you to improve your Vendor Management Processes.