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Supplier Vetting 101: Best Practices for Identifying Top Performers
TL;DR Supplier vetting (or vendor vetting) is the process of assessing suppliers for quality, compliance, reliability, and ethical practices. A strong supplier vetting process reduces risks, prevents disruptions, and ensures long-term supplier reliability. Key steps include defining evaluation criteria, pre-qualification, RFIs, due diligence, risk assessment, and audits. Tools like e-sourcing, spend analysis, and supplier performance […]
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