Best practices for effective and efficient vendor management
Thu 22 Jun 2017 | Malgorzata Zabieglinska–Lupa
Long-term development in the business environment has become much more difficult to anticipate due to globalization, digital innovation, more demanding customers, shorter product life cycles, continuous pressure on costs, as well as social and ethical issues. In addition, vendors are finding that the world is rapidly changing as we move into the digital era.
While responding to the changing business environment, organizations are using new organization models, modern management methods (i.e. lean management or Six Sigma), or innovative sourcing approaches (i.e. crowdsourcing). Outsourcing and vendor management have become the key factors in enabling organizations to build a successful business and achieve business goals.
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