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📖 What is Supplier Management Practice?

The practice of ensuring that the organization's suppliers and their performances are managed appropriately to support the seamless provision of quality products and services.

🥋 Sensei Says:

"This practice ensures you get the agreed-upon value from your third-party vendors."

📚 Certification: ITIL 4 Foundation (ITIL4-Foundation)

🔑 What are the Key Concepts of Supplier Management Practice?

▸ Includes sourcing, contract negotiation, and ongoing performance reviews.
▸ Aligns supplier performance with the organization's business goals.

🎯 How does Supplier Management Practice appear on the ITIL4-Foundation Exam?

Identifying the practice responsible for managing third-party vendors and their contracts.

❓ Frequently Asked Questions

Does Supplier Management handle the negotiation of contracts?

Yes, it is typically involved in the negotiation and agreement of supplier contracts.

Related Terms from ITIL 4 Foundation

Release Service Management Event Continual Improvement Register (CIR) Value Co-creation Current State Assessment

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