{"id":2782,"date":"2009-11-04T14:53:00","date_gmt":"2009-11-04T14:53:00","guid":{"rendered":"https:\/\/www.certitrek.com\/nlpa\/2009\/11\/04\/whitepaper-wednesday-vetting-vendors\/"},"modified":"2021-07-19T06:35:34","modified_gmt":"2021-07-19T10:35:34","slug":"whitepaper-wednesday-vetting-vendors","status":"publish","type":"post","link":"https:\/\/www.certitrek.com\/nlpa\/blog\/whitepaper-wednesday-vetting-vendors\/","title":{"rendered":"Whitepaper Wednesday &#8211; Vetting Vendors"},"content":{"rendered":"<p>Welcome back to another installment of Whitepaper Wednesday here on the Purchasing Certification Blog. This week, I\u2019ll be reviewing a whitepaper entitled \u201cVetting Vendors From a Procurement and Vendor Management Perspective\u201d from Gartner and CFO.com.<\/p>\n<p>Don\u2019t miss updates on Procurement &amp; Supply Chain, Subscribe here!<\/p>\n<p>This whitepaper focuses almost exclusively on the sources of information a procurement professional can use to determine the ongoing viability of a vendor. Here are a few of those sources and what the whitepaper had to say about each\u2026<\/p>\n<ul>\n<li><strong>Dun &amp; Bradstreet, Hoover\u2019s, Standard &amp; Poors, and others:<\/strong> The whitepaper points out that these sources report on the creditworthiness of vendors but cautions that the information may be self-reported or dated.<\/li>\n<li><strong>Stock performance:<\/strong> Stock prices and direction are indicators of the degree of confidence that the market has in a vendor. The whitepaper does point out that stock performance reflects an investor\u2019s perspective and not a customer\u2019s \u2013 a vendor can be financially successful while not being as customer-friendly as one may expect.<\/li>\n<li><strong>Analyst enterprises (for example, Gartner):<\/strong> The whitepaper extols the benefits of getting information from analysts whose \u201cbreadth of customer interactions\u201d allow them to offer unique insight into a vendor. While the whitepaper doesn\u2019t list any downsides to relying on analysts, I will say that one should never assume that an analyst or advisory firm is an expert in every market or on every vendor \u2013 they are not, plain and simple. Plus, there may be an underlying conflict of interest as vendors are often customers of the analyst firms. If you\u2019re curious to learn more about such a conflict of interest in the analyst world, you can find many power-packed rants about the topic on Spend Matters where Jason Busch pulls no punches in exposing what happens behind the proverbial curtain at analyst firms.<\/li>\n<\/ul>\n<p>The whitepaper also transitions into a section where it recommends evaluating a vendor\u2019s quality levels over time as well as its pricing strategy. Those sections are thought provoking and worth reading, too.<\/p>\n<p>If you\u2019d like to get your own copy of this whitepaper, you can download a copy from CFO.com (registration required).<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Welcome back to another installment of Whitepaper Wednesday here on [&hellip;]<\/p>\n","protected":false},"author":12,"featured_media":4095,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-2782","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-procurement"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v19.13 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Whitepaper Wednesday - Vetting Vendors - Next Level Purchasing Association (NLPA)<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.certitrek.com\/nlpa\/blog\/whitepaper-wednesday-vetting-vendors\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Whitepaper Wednesday - Vetting Vendors - Next Level Purchasing Association (NLPA)\" \/>\n<meta property=\"og:description\" content=\"Welcome back to another installment of Whitepaper Wednesday here on [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.certitrek.com\/nlpa\/blog\/whitepaper-wednesday-vetting-vendors\/\" \/>\n<meta property=\"og:site_name\" content=\"Next Level Purchasing Association (NLPA)\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/NextLevelPurchasing\/\" \/>\n<meta property=\"article:published_time\" content=\"2009-11-04T14:53:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-07-19T10:35:34+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.certitrek.com\/nlpa\/wp-content\/uploads\/sites\/5\/2020\/11\/nlpa-images-105.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1600\" \/>\n\t<meta property=\"og:image:height\" content=\"1067\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Galo Matagay\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@nextlevelpurch\" \/>\n<meta name=\"twitter:site\" content=\"@nextlevelpurch\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Galo Matagay\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.certitrek.com\/nlpa\/blog\/whitepaper-wednesday-vetting-vendors\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.certitrek.com\/nlpa\/blog\/whitepaper-wednesday-vetting-vendors\/\"},\"author\":{\"name\":\"Galo Matagay\",\"@id\":\"https:\/\/www.certitrek.com\/nlpa\/#\/schema\/person\/72d094fab77892483dfa6e061cb27eaa\"},\"headline\":\"Whitepaper Wednesday &#8211; 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