Tell me something about vendor management, SOW, BOQ etc?

Question

Accepted Answer

Vendor management involves managing relationships with external suppliers and ensuring compliance with SOW and BOQ.

Vendor management is the process of selecting and managing external suppliers
SOW (Statement of Work) is a document that outlines the scope of work to be performed by the vendor
BOQ (Bill of Quantities) is a document that lists the items and quantities required for a project
Vendor management involves negotiating contracts, monitoring performance, and ensuring compliance with SOW and BOQ
Effective vendor management can help reduce costs, improve quality, and mitigate risks

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