RETAIL VENDOR MANAGEMENT PROCESS

Created by ChecklistGuro (https://checklistguro.com)

[ ] Fetch Vendor Profile: Retrieve existing vendor details from the Vendor Data Model to verify credentials and contact information.
[ ] Create New Vendor Request: Generate a new entry in the Vendor Onboarding table when a procurement need is identified.
[ ] Compliance & Document Verification: Assign a task to the Legal/Compliance team to review the vendor's licenses, insurance, and tax documentation.
[ ] Document Audit Checklist: A set of sub-tasks within the Verification task including: Tax ID verification, Insurance certificate check, and ISO certification review.
[ ] Update Vendor Status: Update the vendor status field to 'Under Review' or 'Approved' in the Vendor Data Model.
[ ] Retrieve Price List: Pull all line items from the Vendor Catalog data model to compare pricing.
[ ] Calculate Total Contract Value: Execute a formula summing unit prices multiplied by estimated annual volume to determine the total annual spend.
[ ] Aggregate Annual Spend per Category: Sum all approved vendor contract values to analyze total expenditure per product category.
[ ] Vendor Contract Signing: Assign a task to the Procurement Manager to oversee the execution of the legal contract.
[ ] Notify Vendor of Approval: Send an automated email to the vendor's primary contact notifying them that they have passed the onboarding process.
[ ] Create Vendor Master Record: Create the final, permanent entry in the 'Approved Vendor Master List' after all checks are passed.
[ ] Update Procurement Budget: Update the departmental budget entry to reflect the newly committed annual spend.
[ ] Monthly Vendor Onboarding Report: Generate a report summarizing all new vendors added and their total value during the month.
[ ] Annual Performance Review: Create a recurring annual task to evaluate vendor performance based on KPIs.
[ ] Remove Blacklisted Vendor: Delete or archive vendor entries from the active procurement list if they fail critical compliance audits.

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