Supplier management

Supplier management involves deciding which suppliers are best suited to advancing a company’s objectives and then using a formal governance structure to define expectations. It also entails establishing a consistent performance management process supported by technology to automate, as much as possible, the management of interactions throughout the supplier life cycle.

Also activities relating to oversight of outsourcing service providers ensuring performance adheres to targets contained within their contracts and agreements, and ensuring services delivery fits customer demand through contracting, periodic supplier evaluation, and supplier relationship management.