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How Vendor Management Professionals Can Help You

Vendor management is a process of controlling the activities surrounding suppliers of a company. Vendor management revolves around managing all and numerous suppliers of a business and works on issues such as contract terms, points of contact as well as pay rates. Vendor relationship management is conducted through the resources of a business. These resources refer to human interaction and technology such as software. Vendor management encompasses activities such as obtaining quotations, negotiating turnaround times, assigning of jobs as well as negotiating contract terms. Quality of work, researching and sourcing of vendors is some of the aspects associated with vendor management.

Vendor managers are responsible for ensuring that the business has all items needed to function in the office as well as production departments. They work with management as well as financing regarding budgeting on purchases to be made. They control stock level and ensure that payments of items ordered are not exceeded. Supplier managers ensure that the quality delivered by the vendor is in line with the agreement in place. Furthermore, they are able to use software such as Tradeshift, TradeGecko, IBM Emptoris, SAP Ariba and Gatekeeper (to name a few). On Guru, you are able to connect with numerous vendor management specialists.

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Pay by Milestones

Milestones are like checkpoints you create to ensure you're happy with the work every step of the way. Build as many milestones into your job as you want — set a due date for each milestone and the amount to be paid.

Pay by Task

Pay for a single completed task, however big or small. Create and assign tasks for work as needed, and generate invoices from each task once they are completed.

Pay by the Hour

Track progress with ease and confidently pay freelancers by the hour. Use our TimeTracker software to see in the moment updates of work being done. Hiring multiple freelancers for your job? Stay organized with a breakdown of each freelancer's hourly rate and time tracked.

Pay Using Recurring Payments

Easily pay your go-to freelancers on an ongoing basis. Set up to four recurring payment rules for any given job — pay every week, every other week, every month, or every quarter. Stop or Resume payments at any point with just a click of a button.

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