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The Vendor Risk Management settings page lets you customize how you classify and assess vendors.

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Vendor tiers

Configure the tier system used to classify vendor criticality. Default tiers include Critical, High, Medium, Low, and Untiered. You can customize tier names and add new ones.

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Vendor portfolios

Portfolios categorize vendors by relationship type. The default portfolio is Supplier, but you can create additional portfolios such as Service Provider, Technology Partner, or any custom category.
Define your tier criteria before adding vendors. A clear tiering system ensures consistent vendor classification across your team.