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Supplier Diversity Glossary

Supplier Management Process

What is the Supplier Management Process?

The supplier management process is the process of strategically managing an organization’s supplier portfolio to maximize the value of each supplier. The process is handled either through manual software such as Microsoft Excel or through third party supplier management software such as a supplier registration portal.

Managing a supplier portfolio with an established process can assist in keeping clear lines of communication, maintaining up-to-date supplier data, facilitating the entrance of new or potential suppliers, expediting and consolidating RFPs and RFQs, sharing supplier information with other stakeholders, and more.