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Performance Assurance Reporting and Monitoring System (PARMS) is a database that contains information about how Suppliers and their Supplier Hubs are performing. PARMS data is used primarily to support the Performance Monitoring and Reporting technique, which is part of ELEXONâs Performance Assurance Framework.
Definition - What does Vendor Management System (VMS) mean? A vendor management system (VMS) is a Web-based application that allows an organization to secure and manage staffing services on a temporary, permanent or contract basis. It helps centralize the complex issues that surround the staffing.