Impact of Strategic Vendor Management to Improve Supply Chain Performance

Abstract

This research article aims to explore the impact of strategic vendor management on improving supply chain performance. In today's dynamic and competitive business environment, effective supply chain management plays a pivotal role in enhancing organizational performance and achieving a sustainable competitive advantage. One critical aspect of supply chain management is vendor management, which involves developing and maintaining strong relationships with suppliers to ensure the timely and efficient flow of goods and services also It plays a vital role in cost reduction, effective operation and control, meet customer satisfaction & mitigate risks. Through a comprehensive review of existing literature, case studies, and empirical evidence as well as we collected our primary data by a likert scale survey and taking interview among supply chain professionals of Bangladesh, this study seeks to provide valuable insights into the strategies and practices that can foster successful vendor management and its consequent effects on overall supply chain performance.