Vendor Management: How to Work with Vendors

The video tutorial covers vendor management, focusing on building effective relationships with vendors. It explains Vendor Relationship Management (VRM) and the broader vendor management process, including vendor selection, contract management, and performance evaluation. The tutorial emphasizes the importance of clear communication, fairness, and collaboration in vendor relationships. It also highlights the need for tools and processes to support vendor management, such as time and cost tracking, and the use of KPIs. Trust, transparency, and a collaborative mindset are identified as essential elements for successful vendor management.

What are some common reasons for disagreements with vendors?

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What processes are necessary to support vendor management?

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What are the three essential elements needed for effective vendor management?

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