Hi Prashant,
Vendor Tiering assessment - This tiering assessment is used for internal stakeholders to decide how they want to position their vendors.
Vendor Risk Assessments - The relationship comes into picture when , based on the tiering assessment there is a rule written under "Tier Based Submission" module under the Vendor Risk application to automatically trigger a vendor risk assessment to that vendor whose tier may have been set to "Critical" (for example) by the tiering assessment.
Hope this helps.
Thanks,
Priya
