Vendor Management
Course Features
Course Details
Program Introduction
An organization could work with a few, dozens, or even hundreds of different businesses and individuals that provide goods and services to it and are considered its vendors. The term vendor management describes the activities included in researching and sourcing vendors, obtaining quotes with pricing, capabilities, turnaround times, quality of work, negotiating contracts, managing relationships, assigning jobs, evaluating performance, and ensuring payments. It requires a lot of skills, resources, and time. Though many business owners believe that vendor management is simply about finding the supplier with the cheapest price for a product or service, it’s about more than that. It’s about streamlining the process for heightened efficiencies and managing vendor relationships to ensure that the agreements made are mutually beneficial for both parties.
Training Content
- Foundations
- Vendor management success
- Procurement lifecycle
- Procurement lifecycle vs. vendor management
- Three pillars of vendor management success
- Commitments
- Relationships
- metrics
- Vendor selection techniques and considerations
- Commitments
- Exchange of commitments to vendor management success
- Various types of vendor agreements
- Evaluation of bid proposals
- Structure and purpose of contracts
- Creating effective SOWs
- Contract type in relationship to delivery risk
- Relationships
- Managing vendor relationships
- Vendor governance practices and procedures
- Changing controls systems
- Escalation pathways
- Negotiating in principle’sway
- Sharing success with vendors
- Alternative dispute resolution techniques
- General management skills
- Communications
- Delegation
- Motivation
- Metrics
- Vendor metrics
- Focusing on the best metrics not the easy ones to collect
- Application of KPIs
- Role of the Responsibility Assignment Matrix (RASCI)
- Score cards and vendor performance reporting
- Balanced score cards
- Continuous improvement
- Risk
- Various sources of vendor related risk
- Manage discrete vendor risks
- Apply risk minimization guidelines
Learning Outcome
- Procurement lifecycle and its relationship to vendor management
- Three pillars of vendor management success
- Importance of carefully exchanging commitments
- Elements of contracts, statements of work (SOWs), and service level agreements (SLAs)
- Variety, function, and components of vendor agreements
- Change control procedures and governance practices
- Negotiating techniques that support productive working relationships
- Role and function of performance metrics, key performance indicators(KPIs), and vendor performance scorecards
- Managing vendor relationships as the key to success
Who Should Attend
- Anyone who interacts with vendors, either as a manager or a user ofvendor supplied services
- Project managers, program managers, supervisors, and general managers
For Further Details
huma.alvi@wordpress-764963-3017117.cloudwaysapps.com 0322-2039799
shahzaib.ul.mulk@wordpress-764963-3017117.cloudwaysapps.com 0321-5359737
Click here to Download Flyer
Payment Details:
The cheque will be made under the name of “Pakistan Society for Training and Development” and dispatch it to following address;
Pakistan Society for Training and Development
Plot # TC-3, 34th Street, Khayaban-e-Seher
Phase V, DHA, Karachi 75500.
Cancellation Policy:
PSTD Cancellation Policy – Cancellations made at least 5 working days prior to the program will be refunded 50%. If a booking is canceled in less than 5 working days, no refunds can be given. Cancellations must be confirmed by a letter or email. Substitutions may be made at any time for the same program only. In case of the participant not showing up on the day of the training a replacement can be sent.