Businesses using third-party AI tools need a structured approach to identify supplier risks, assess AI systems, and understand their responsibilities under the EU AI Act. AI Vendor Risk Management helps organisations evaluate AI suppliers, review technical documentation, clarify provider and deployer roles, and monitor third-party AI dependencies. This guide covers practical steps for vendor due diligence, AI risk assessment, supplier agreements, ongoing monitoring, and compliance evidence management. Discover how AnnexOps supports AI governance workflows through centralised risk assessments, obligation mapping, documentation, and evidence management.