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Most companies interact every day with a wide range of vendors. In this series, we

PROCUREMENT A company engages in procurement while sourcing products (or services) from suppliers and vendors.

What is Vendor Master Data? A comprehensive supplier / vendor master allows sourcing specialists to

Understanding ERP Enterprise Resource Planning (ERP) is a software that controls the finances, manufacturing, reporting,

The primary responsibility of the procurement function is to guarantee the availability of all raw

The strategic management of a company’s relationships with its suppliers is known as supplier relationship

For many years, purchasing was viewed more as a transactional role that involved negotiating a

In order to eventually optimize inventory, it is imperative to have visibility into what the

What is taxonomy Taxonomy is a classification system that organizes and defines the relationships between

There are consequences to bad quality master data, which impact the organization across functions –

Leveraging Strategic Supplier Relationships