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Vendor insolvency

What does it mean to ensure my vendor is financially stable?

It is always a good practice to do annual reviews of vendor financials. (Some institutions use commercial lenders to do these reviews, as they are familiar with how to analyze financials.) You should have a contingency plan in place to exit the relationship in the event that your vendor is going out of business.

Learn more about Deborah’s webinar Vendor Management Strategies

First published on 08/21/2016

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