What are some of the current trends you've noticed within Vendor Management?

One of today's most dominant trends is measuring and monitoring regulatory, ESG, and other related compliance. The other notable trend is in increasing automation to onboard new vendors, manage contracts and agreements, track SLAs, and identify potential risk. 

Increased due diligence on 4th to nth parties in the supply chain. It is no longer considered good practice to focus only on your immediate suppliers that are critical to your organisation. Their key dependencies including those associated with concentration risk are receiving increased attention including obligatory monitoring from regulation.

Organizations are increasingly focused on sourcing from sustainable and ethical vendors. This includes factors such as environmental impact, labor practices, and human rights. Vendor managers are responsible for ensuring that their vendors comply with the organization's sustainability and ethical sourcing standards.