Vendor Management Plan vs Vendor Management Process

Understanding the Difference

A Vendor Management Plan is a documented strategy, while the vendor management process represents the execution of that strategy.

Role of Planning in Vendor Governance

The plan defines responsibilities, metrics, and escalation paths that guide daily vendor interactions.

Why Both Are Necessary

The plan provides direction, while the process ensures consistent implementation across departments.

Conclusion

Organizations achieve vendor consistency and accountability only when planning and execution work together.