What are some best practices for streamlining and consolidating vendor management processes?

When overseeing site acquisition vendors for a large telecommunication company, I found that holding weekly hurdle calls was essential. These calls allowed us to review project progress and milestones. Utilizing vendor management tools for milestone tracking and visibility was crucial for effective oversight. Regular reviews and audits helped ensure alignment with project goals and providing feedback to vendors facilitated improvement. Having a system in place for uploading deliverables and submitting PORs enhanced efficiency and accountability in project management.

Typically I utilize the Pugh matrix for assessment of vendors at the preliminary stage. It eliminates subjective and discriminatory bias from the vetting/assessment process, balances pros and cons well, attributes appropriate weighted values to criteria according to the core mission purpose of the project, and ensures equal scoring for all stakeholders involved.