A vendor management template helps businesses track and manage all the information related to vendors in one place. You can track contracts, payments, vendor requests, etc. with your team and make sure that there are no hiccups in the process. It is just like a data repository that helps you in initiating and developing relationships with providers of goods and services for your business.
Why do businesses need vendor management?
Manage where your money is going: The vendor management template helps you keep track of spending on different vendors on a yearly or monthly basis. This way you can know whether your vendor relationships are bringing you profits or not.
Store all records in one place: No need to maintain different copies of vendor data with each employee. Now, everyone can recognize the new merchants that have joined you recently and improve their dealings.
Detailed overview of vendor performance: You can include critical factors in this template like time of delivery, complaints, or quality of service to know more about each vendor.
Improved decision-making: You can create real-time reports for vendor performance and use the data in decision-making for your business. Since all the vendor data is stored in one place, creating reports is a matter of minutes.
Overview of Stackby’s Vendor Management Template
Store all vendor requests
The vendor management template includes a Requests table where you can track whether you have contacted the vendor or not and if contacted what is the current status of the request. It also helps in storing data related to vendors like email, contact person, phone, and estimated spending per year.
Manage vendor details
The template for vendor management includes a separate table to store the list of vendors. You can add details like their name, website, product or service offering, contacts, agreement, bank details, and so on.
Manage vendor needs
Does your vendor require any resources from you? It could be product details, forms, agreements, etc. Our vendor management template helps you store information about what a vendor requires to complete the requests.
Store all vendor documents in one place
Whether you need payment forms, contracts, sales order forms, GST forms, or work order forms, you can maintain a single updated copy of them to be shared with your vendors. The All Documents table stores these documents as attachments so that anyone in your team can access them.
Who will find this template useful?
Firms frequently carrying out businesses with third parties as well as start-ups will find this template extremely helpful. It also helps firms that produce goods involving several steps of production of the final product.
How to use Stackby’s Vendor Management Template?
Customize our vendor management template as per your business requirements and start streamlining your workflows.
- Create a form for vendor requests you have and let responses fill the Requests table
- Fill out the remaining information about the status of the request
- Add vendor details to the Vendors table, upload their agreements and bank details
- Add information about all the contacts
- Upload all the documents needed by vendors
Make changes to column names and column types based on your business requirements and you can start managing vendor data from a single repository. Use our vendor management template today!
Other Operations templates to try:
Inventory Management Template
Asset Tracker Template
Equipment Inventory Template