It’s essential to constantly work with vendors in the joint effort to improve product quality and increase customer satisfaction. You need to effectively track vendor performance and supplier relationship management to correctly evaluate and compare vendors then decide to whom additional business should be awarded, while proactively minimizing the risk of financial, geographic, political, and operational disruptions. Stop making decisions based on anecdotal information and move to an intelligent decision-making process, based on real-time data using vendor management software.
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