Vendor management software enables organizations to maintain a vendor management system that gives them complete visibility and control of all documents and records related to each vendor and supplier. Robust vendor management software allows regulated companies to not only keep all vendors, contracts and reviews in one place, but also assess risk, manage resources and, ultimately, comply with regulators and auditors.
As companies amass more suppliers, vendors, parts and services, controlling the documentation associated with these third parties and their goods or services becomes increasingly challenging. Especially for regulated companies, an effective vendor management system is important to ensure third-party goods and services comply with applicable laws, regulations and best practices.
Implementing a supplier quality management software system like MasterControl’s enables organizations to maintain an effective vendor management system.