Maintaining Vendor Management Vigilance In The Overheated Global Sourcing Market

Sourcing and vendor management (SVM) executives are taking on an increasing number of responsibilities, yet they need to maintain their vigilance when it comes to evaluating and managing their global vendors —from both a risk and quality perspective. Despite the maturation of the outsourcing industry — or perhaps because of it — some clients have stopped being as rigorous in their basic vendor management practices as they need to be. Given the skyrocketing attrition and shortage of qualified labor in India and the increased responsibility given to global vendors, it is even more important today to continuously evaluate and monitor vendor performance. This document highlights current market trends and best practices for sourcing and vendor management professionals to consider as they seek quality and mitigate risk in vendor relationships.