Selecting and awarding a vendor may have significant monetary and non monetary ramifications for a company

Business Feb 20, 2023

Selecting and awarding a vendor may have significant monetary and non monetary ramifications for a company. This activity cannot be taken be taken lightly and should not be taken lightly and should not be a result of improvisations. Hence, project and Procurement teams plan their activities prior to executing procurements. ? What are some various planning activities that can be performed to ensure that a company's interests are protected when identifying and hiring a vendor?