- In construction projects, vendors play a vital role by supplying materials, tools, equipment, and services.
- Efficient vendor management ensures timely procurement, accurate tracking of payments, and seamless coordination between stakeholders.
Why Vendor Management?
In construction, companies depend on a wide range of vendors for materials, equipment, and services. Proper vendor management helps:
- Ensure reliable supply chains.
- Maintain accurate vendor records and compliance details.
- Track payments, invoices, contracts, and deliveries.
- Improve procurement efficiency and cost control.
Module Structure
The Vendor Management module is divided into the following sections:
- Vendor – Register and manage vendor profiles.
- License – Record licenses associated with vendors.
- Item – Track materials and services supplied.
- Assets – Manage assets provided by vendors.
- Contact – Maintain vendor contact details.
- Contract – Handle contracts between vendors and the organization.
- Purchase Order – Manage orders placed with vendors.
- Invoice – Track invoices issued by or against vendors.
- Payment – Monitor payment history and status.
- Item Received – Record items received from vendors.