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Vendor management system. A vendor management system (VMS) is an Internet-enabled, often Web-based application that acts as a mechanism for business to manage and procure staffing services – temporary, and, in some cases, permanent placement services – as well as outside contract or contingent labor.

Vendor management system

Typical features of a VMS application include order distribution, consolidated billing and significant enhancements in reporting capability that outperforms manual systems and processes.[1] In the financial industry due to recent regulations, vendor management implies consistent Risk Classificant and due diligence done to ensure risk assessment that eliminates undue third-party risks exposure. Definitions[edit] Official Customer Site.

Agile software development. Agile software development is a group of software development methods in which requirements and solutions evolve through collaboration between self-organizing, cross-functional teams.

Agile software development

It promotes adaptive planning, evolutionary development, early delivery, continuous improvement, and encourages rapid and flexible response to change.[1] The Manifesto for Agile Software Development,[2] also known as the Agile Manifesto, first introduced the term agile in the context of software development in 2001. History[edit] Predecessors[edit]

Scrum (development) Scrum is an iterative and incremental agile software development framework for managing product development.

Scrum (development)

It defines "a flexible, holistic product development strategy where a development team works as a unit to reach a common goal", challenges assumptions of the "traditional, sequential approach" to product development, and enables teams to self-organize by encouraging physical co-location or close online collaboration of all team members, as well as daily face-to-face communication among all team members and disciplines in the project. A key principle of Scrum is its recognition that during a project the customers can change their minds about what they want and need (often called "requirements churn"), and that unpredicted challenges cannot be easily addressed in a traditional predictive or planned manner.


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