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#2244631 - 10/26/20 08:11 PM Vendor Management
Lele Offline
Platinum Poster
Lele
Joined: Feb 2007
Posts: 817
In the Sun
We are overhauling our Vendor Management process. We have started a committee and want to know what others are doing? Do you have a Charter? Do you have a committee? What are you using to track the vendors? We have an excel spreadsheet but want to grow from that. Any input would be appreciated? TIA!
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Risk Management
#2244633 - 10/26/20 08:18 PM Re: Vendor Management [Re: Lele]
rlcarey Offline
10K Club
rlcarey
Joined: Jul 2001
Posts: 74,768
Galveston, TX
Isn't that the cart before the horse? If you think you need a committee, would you not develop the charter before it was formed to outline exactly what their function might be. Seems silly to form a committee and then say - OK - what are we going to do.
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#2244654 - 10/27/20 12:24 PM Re: Vendor Management [Re: Lele]
DEL Offline
Platinum Poster
Joined: Oct 2002
Posts: 726
Maine
We don't have a Committee but we do rely heavily on our software, Ncontracts. It has really helped to guide us in how we evaluate our vendors.

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#2244959 - 11/02/20 06:37 PM Re: Vendor Management [Re: Lele]
AuditLove Offline
New Poster
Joined: Jan 2015
Posts: 23
We had a steering commitee when we first started implementing the new third party guidance years ago. No longer have a committee but we have a dedicated department that handles vendor mgmt now. And we also rely heavily on software for risk rating and tracking vendors and suppliers.

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