VENDOR ONBOARDING AND MANAGEMENT PROCESS

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[ ] Initiate Vendor Request: Create a task for the Procurement Officer to start the onboarding process for a new vendor.
[ ] Create Vendor Profile: Create a new entry in the 'Vendors' data model with initial details provided in the request.
[ ] Collect Tax & Legal Documents: Assign a task to the Vendor to upload necessary compliance documents (W-9, ISO certificates, etc.).
[ ] Retrieve Vendor Details: Fetch the newly created vendor's information and contact details from the data model.
[ ] Update Compliance Status: Update the 'Compliance Status' field in the Vendor data model to 'Under Review' once documents are received.
[ ] Calculate Risk Score: Execute a formula based on vendor attributes (e.g., region, industry, and financial stability) to determine risk level.
[ ] Security Assessment: Create a task for the IT Security team to review the vendor's data protection capabilities.
[ ] Check Existing Vendor Duplicates: Search the Vendor data model to ensure the entity does not already exist in the system.
[ ] Set Risk Level: Update the 'Risk Rating' field in the Vendor entry based on the calculated risk score.
[ ] Final Contract Approval: Create a task for the Legal Department to review and sign the final master service agreement.
[ ] Activate Vendor: Change the 'Status' field in the Vendor data model from 'Pending' to 'Active'.
[ ] Notify Vendor of Approval: Send an automated email to the vendor's primary contact confirming they are successfully onboarded.
[ ] Summarize Monthly Onboarding Volume: Aggregate the total number of 'Active' vendors created in the current month.
[ ] Generate Monthly Vendor Audit Report: Create a report summarizing all new vendors, their risk scores, and their compliance status for the month.

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