When we say, “vendor management program,” what we really mean is a plan established to protect your organization from vendor risk. When you outsource a product or service to a third-party vendor (or even to a fourth-party vendor) you’re exposing your organization to a whole host of risks, including financial, operational, reputational, transactional and more. Sounds a wee bit concerning, doesn’t it? Well… that’s because it can be. Don’t panic quite yet. Let’s take a moment to review some pretty important vendor management program details and it should all get a bit clearer.