Abstract: Determining actions associated with managing risk may comprise accessing an action mappings database that maintains information for managing a plurality of risk elements associated with supplying a product to an entity. That the action mappings database indicates that a first risk element of the plurality of risk elements should be identified in an identification phase of a vendor management process is determined. That the action mappings database indicates that the first risk element of the plurality of risk elements should be identified using a specified identification tool is determined. That the action mapping database indicates that at least one management action for reducing risk associated with the first risk element should be performed in a performance phase of the vendor management process is determined.

Abstract: Managing a vendor may comprise identifying a product to be supplied to an entity. Risk elements associated with the product may be determined by performing a product category-driven risk assessment. A transaction level risk assessment is performed for one or more vendors proposed to supply the product to the entity. At least one management action is determined for reducing risk for a risk element of the plurality of risk elements associated with supplying the product to the entity by a selected vendor from a group comprising the one or more vendors proposed to the supply the product to the entity, wherein the at least one management action is determined according to results of the product category-driven risk assessment and the transaction level risk assessment for the selected entity. A vendor level quality plan for the selected vendor is created that comprises the at least one management action.

Abstract: Determining vendor management requirements comprises identifying a plurality of risk elements associated with a vendor that supplies one or more products to an entity. Any completed management actions for the vendor that mitigate risk associated with any of the identified risk elements are identified. A residual risk is determined for at least one of the identified risk elements according to a completed management action that reduces risk associated with the at least one of the identified risk elements. A determination is made as to whether to assign a vendor manager to the vendor according to the residual risk for the at least one of the identified risk elements.

Abstract: Executing a distributed control function of an entity may comprise identifying a control function test associated with one or more requirements of a vendor management process for an entity, wherein the control function test is defined by an entity control function. The control function test is applied to an organization within the entity to test compliance of the organization with the one or more requirements of the vendor management process for the entity, wherein applying the control function test is performed at least in part by an internal control function associated with the organization. Results of applying the control function test are stored in a central repository.