Vendor Management: Classifications, Evaluation and Auditing

1. Do you use the UNSPSC classifications for your spend? If yes: 

  • Does the PO/Req creator choose the category? 
  • How is the category selected? 
  • What do you do with the data you have collected?

2. What level of control do you exert over the business to ensure appropriate vendor selection? (e.g. make sure vendor isn't friend of someone in the business, validate business case for selection, etc.) 

  • If evaluating using a business case, do you hold the business owner accountable for their decision?

3. How often do you re-evaluate vendors for suitability? (e.g. consolidation, parent company spin-off, etc.)

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