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Vendor insolvency

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

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.

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Learn more about Deborah’s webinar Vendor Management Strategies

First published on 08/21/2016

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