We shared a standard workflow for Vendor Management with you in the last post http://faoblog.com/processes-ap-vendor-management-workflow/ and also talked about various steps involved in the process.

From the IRS website you can also see what a W9 form looks like. Here is the link for the same www.irs.gov/pub/irs-pdf/fw9.pdf

Let me share inputs on the other two subsets on vendor management:

  • Vendor query handling
  • Vendor Dispute Management

As mentioned earlier, these sub-processes are actually a fall out of the accounts payable process. Whenever you place an order on a vendor for material or services, there can be a number of queries that may need to be handled. Simple business understanding can give you these specifics. Some of these queries can be:

  • Can I deliver the material in staggered lots?
  • The rate in the purchase order is lower than we agreed. Why is this so?
  • Can I get the payment earlier if I offer an additional discount of X %?
  • Can I deliver the material ahead of schedule to reduce my warehouse cost?

In terms of dispute management again, the disputes can be multifarious, like:

  • Lot XX of the material was received defective, change invoice.
  • Returned material not received back by the vendor.
  • Vendor not accepting defective material.
  • Vendor charging more that the agreed rate.
  • Material damaged in transit.

The list can go on…..

We have enabled a button on the top of the first page, which will enable you share your posts. If you wish to write about any of the current streams, you can do it at http://faoblog.com/guest-post/. We will review your post and release it within 48 hours of your posting.