Understanding Vendor Management and its qualities is essential before diving into the details.   The logic behind vendor management is that businesses rarely have all the resources to execute projects and fulfill business objective on their own. For this reason, they are forced to turn to external source of resources. The process of acquiring and managing many suppliers can add extreme complexity to an already complex and highly dynamic buyer-vendor ecosystem. Therefore, a smooth Vendor Management process is quite valuable and can improve supplier relationships. For More visit here  :  https://corporateturnkeyprojectservices.wordpress.com/2022/07/23/vendor-management-5-steps-to-a-smooth-vendor-process/  

What is Turnkey Projects? A Turnkey project is a collaboration between two companies on the supply, construction, and commissioning of a plant. It involves the building of a complete and ready-to-use facility by one Company. An Industrial equipment manufacturer and construction company may undertake a Turnkey Operation for a Government Agency. Advantages of Turnkey Projects Turnkey Projects provide an excellent way to invest in technically technologically complex projects and earn great economic returns. Turnkey Projects are advantageous in countries where a Long term investment might expose the firm to unrespectable  Political or economical risks to the company. Disadvantages of Turnkey Projects Normally, a company entering into a Turnkey deal will not have a Long-Term interest in the foreign company. If a company enters into a Turnkey project, it may create a competitor. A Turnkey Projects that sells a Firm’s process technology is also selling competitive advant...