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Vendor Management Office (VMO) in Pharma/Biotech industry
I have read a lot about VMOs in BFSI industry. But found a very little about VMOs in Pharma/biotech industry. Is this an industry phenomenon? SRM and preferred suppliers are buzzword everywhere and I have seen Pharma doing its best to connect to key suppIiers. But what about the work such as supplier monitoring/ risk management/ accreditation? I mean, shouldn't day to day vendor management be given importance? Or the Procurement team, does all the work here? Maybe I do not have all the information here. What do you guys think?