Business & Vendor Development Service

Additional Details

Vendor development is one of the popular techniques of strategic sourcing, which improves the value we receive from suppliers. Vendor Development can be defined as any activity that a Buying Firm undertakes to improve a Supplier's performance and capabilities to meet the Buying Firms' supply needs. 

Buying Firms use a variety of activities to improve Supplier performance, which includes, 

• Assessing Suppliers' operations
• Providing incentives to improve performance
• Instigating competition among Suppliers
• Working directly with Suppliers either through training or other activities etc