While these modules don't directly address FAA Part 5 requirements, they are included in the Part 5 Automation Tool to help you achieve compliance and performance.
The Part 5 Automation Tool's Vendor Management module is an integrated, Web based collection of tools to manage vendors, suppliers, contractors and tenants.
This Web based risk management software module has these major features:
Vendor Management module is required to be able to associate reported aviation incidents and accidents to vendors. The other Automation Tool Web based safety management software module that is dependent on the Vendor Management module is "Vendor Message Acknowledgement."
The Vendors module allows you to track, manage, and assess all parties associated with your organization but not directly managed by it. The implication here is that these third parties have direct bearing on the safety of your operations, but are notoriously more difficult to control because you don’t have direct oversight over them.
The Vendors module allows you to manage the safety of your Vendors operations in your organization.
Using the Part 5 Automation Tool's Vendor Management module, safety managers will be able to easily associate vendors with reported incidents and accidents. But there are many other purposes of the Vendor Management module, such as showing all managers the latest risk assessment or rating for each vendor or comparing vendors according to their category and risk rating.
Having a Vendor Management module in your aviation safety management system simply makes good sense. Airports can use the vendor management module also for managing tenants.
Your Vendors module will include all vendors information, with the ability to classify, authorize, and rate each vendor.
Wikipedia Vendor Management System
Vendor Management Definition (Gartner)