Templates
Vendor Management
Vendor Performance Management Process
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Vendor Performance Management Process

Improve your business processes with our Vendor Performance Management Process, essential for identifying, monitoring, and optimizing vendor effectiveness.
1
Identify key vendors for process
2
Determine performance metrics for evaluation
3
Approval: Performance Metrics
4
Set up evaluation tools
5
Gather data on vendor performance
6
Analyse collected performance data
7
Draft performance report
8
Approval: Draft Performance Report
9
Deliver performance feedback to vendor
10
Discuss possible improvements with vendor
11
Document improvement plans
12
Implement improvement plans
13
Monitor vendor's performance post improvement
14
Approval: Post Improvement Performance
15
Conduct follow-up meeting with vendor
16
Identify areas of success and areas needing further improvement
17
Establish next evaluation period
18
Communicate next steps to vendors