A vendor management risk assessment refers to the analysis or scrutiny of a vendor business. The assessment is done in the sense to assess how efficient is the management and also the level to which it is risk prone. The assessment compiles basically of the aspects which focus on the management and the functioning patterns of the vendor business.
The purpose of the assessment as may be apparent is to draw out the segments which need improvement so as to avoid any risk to failure due to inefficient management.
Sample Vendor Management Risk Assessment
Name of the Vendor Business entity: ________________________________________
Year of establishment: ____________
Owner’s name: ______________________________
Evaluation done by: ___________________________
Please provide with the most appropriate answer to the following questions:
1. Describe/ mention in a few words the target customer base of the vendor. Also describe/ mention in brief the kind of goods available at the vendor business facility.
2. Are the staffs at the vendor facility sufficient to handle the amount of customer traffic received by the facility?
a. Yes, more than enough
b. Yes, almost
c. Not really
d. Not at all
3. How many employees work under a manager at the facility?
a. 5- 10
b. 10- 14
c. 14- 20
4. Is the combination of management and employees efficient according to you?
5. Are there ample management policies and rules/ regulations in place to counter almost all the situations that one can come across?
a. Yes, all bases covered
b. Some yes, some no
c. No, none efficient policies.
6. Does the facility management have a risk counter/ contingency plan in place to be followed?
c. Yes, but it needs improvement
7. Is there enough flexibility in the management process of the organisation to induce impromptu strategies for genera betterment of the organisation and to counter sudden situations?
c. Kind of