Apicbase Glossary

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food and beverage industry glossary

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Vendor management

Vendor management is the ensemble of processes an organization uses to manage its vendors (also known as suppliers). It includes selecting vendors, negotiating contracts, controlling costs, and ensuring service deliverability. Vendor management is related to procurement management, and is considered to be a restaurant supply chain best practices.

Vendor management enables businesses to develop good vendor relationships, contracts, and performance. This can help organizations meet their business objectives. 

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