ELI5: Explain Like I'm 5

Vendor relationship management

Vendor Relationship Management (VRM) is a way of keeping track of the different people or businesses that you buy things from. It helps you to know who you should buy from and how much you should pay. You can also use VRM to keep track of the different things that you have bought from each vendor and how satisfied you are with their service. This helps you to manage your relationships with those vendors over time and make sure you are getting the best quality products and services for your money.
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