Happy Independence Day to all our Indian readers.
Last post we discussed Vendor Contract management – https://faoblog.com/processes-ap-vendor-management-other-processes/
Vendor analysis and reporting
A majority of the activities under this head comprise of segments of spend analytics, which we have discussed earlier. The last post on this was – https://faoblog.com/processes-ap-spend-analytics5/
Vendor analytics and reporting will comprise of analysis of the purchases of various vendors, their terms, discounts offered, amount and criticality of purchases from them, locational advantages / dis-advantages and the like.
The reporting pieces may also include details on purchase returns, reports on purchases not meeting quality norms and listing of disputes and their resolutions.
This is an important component of Vendor Management. There will always be requests for information, disputes, clarifications and the like in any business. Query Management revolves around the process or receiving, recording and managing queries for various vendors & employees. In most of the situations, this will also have a voice component and may need either a call centre or at least a telephonic access to the processors at the shared service centers.
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