Which Criteria do you Need to Follow for Vendor Selection?

For procurement and project management, a thorough vendor selection procedure is crucial. One method required for enterprise risk management is vendor selection (ERM). Your business will suffer if you choose a poor provider.

The manufacturing timeline for manufacturers will slip if a vendor doesn’t deliver on time or produces subpar goods. Stockouts will reduce sales in both retail and online retailers. Deliveries to customers would be delayed, there might be returns, and your business’s image with its clients would suffer.
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