Retail Vendor Management Process

Start of the Workflow/Process.

Retrieve existing vendor details from the Vendor Data Model to verify credentials and contact information.

Generate a new entry in the Vendor Onboarding table when a procurement need is identified.

Assign a task to the Legal/Compliance team to review the vendor's licenses, insurance, and tax documentation.

A set of sub-tasks within the Verification task including: Tax ID verification, Insurance certificate check, and ISO certification review.

Update the vendor status field to 'Under Review' or 'Approved' in the Vendor Data Model.

Pull all line items from the Vendor Catalog data model to compare pricing.

Execute a formula summing unit prices multiplied by estimated annual volume to determine the total annual spend.

Sum all approved vendor contract values to analyze total expenditure per product category.

Assign a task to the Procurement Manager to oversee the execution of the legal contract.

Send an automated email to the vendor's primary contact notifying them that they have passed the onboarding process.

Create the final, permanent entry in the 'Approved Vendor Master List' after all checks are passed.

Update the departmental budget entry to reflect the newly committed annual spend.

Generate a report summarizing all new vendors added and their total value during the month.

Create a recurring annual task to evaluate vendor performance based on KPIs.

Delete or archive vendor entries from the active procurement list if they fail critical compliance audits.

End of the Workflow/Process.