Vendor Management

Keeping an eye on a company's money goes beyond simple cash accounting. In the digital era, instances of fraud from third-party vendors are on the rise. As fraud schemes become more sophisticated, fraud prevention methods must become more diligent. Fraudulent activity costs companies thousands of dollars in lost cash, legal fees, and diminished financial power. […]

Supplier relationships are a lot like personal relationships. Each is individual, enriches daily life, and requires different levels of attention to keep strong. Just like best friends, there are a few suppliers your business simply couldn’t live without. Businesses rate the characteristics of their supplier relationships using supplier segmentation. Evaluating your supply chain relationships with […]

A contract is more than just an outline of your rights and obligations in a deal. It is a corporate asset that requires management and review. Moreover, correctly managing the contract lifecycle can open opportunities for savings and improvements in how your organization conducts business.  What is the contract lifecycle, and how should your company […]

If you want to grow your fitness company, you need to have a budget; in order to budget, you need to know what you’re spending.

Make the vendor selection process an ongoing feedback loop based on cost and value.

NASA’s risk mitigation matrix can help your business improve its vendor management policy and make smarter decisions about who or who not to work with.