Duration
2 days Remote Learning via Zoom
OVERVIEW
Vendors are critical to the firm’s success in the market and profits. They are now at the heart of many organization’s processes and activities. In the past, procurement was simply the department who bought goods and services. But now procurement should be considered as a part of firm’s business strategy. To get the best value for money, firm should be taking a strategic approach to efficiently managing it’s vendors.
This 2-day course has been designed to equip participant with the skills and techniques to successfully managing vendors, vendor relationship and vendor performance.
COURSE OBJECTIVES
Upon completion of the course, participants should be able to:
- Understand the Vendor Management phases, process and principles
- Establish a context for Vendor Management within purchasing & project management
- Explore types of Commercial Relationship
- Understand the basics of Contract and Commercial terms
- Evaluate, select and manage Vendor Performance
- Establish and manage Vendor Development Program
Introduction
- Supplier vs Vendor
- The importance of Vendor Management
- Vendor Management in Purchasing
- Deming’s Principle in Vendor Management
- Vendor Management Challenges
- Strategic Sourcing
- Market Analysis
- Supplier Qualification
- Cost & Price Analysis
- KPI’s
- Best Sourcing Practices
- Vendor Administration & Selection
- Relationship, Involvement & Trust
- Vendor Pre-Qualification
- Vendor/Supplier selection
- Vendor Database & Analysis
- Vendor Relationship Management
- Contractual Documents & Terms
- Negotiating with Vendors
- Creating the Vendor Communication Plan
- Managing Vendor throughout the Project Cycle
- Dealing with Vendor Issues
- Vendor Contract Closeout
- Vendor Performance
- Vendor Performance Metrics
- Vendor Performance Measurement Process
- Vendor Performance Result & Segmentation
- Vendor Termination
- Vendor Assessment and Supply Chain Tools
- Vendor assessment and the components included in this process
- The supplier networks
- Key elements of strategic sourcing
- ABC analysis
- Cost-Benefit analysis
- Benchmarking
- Time compression
- Creating the agile supply chain
- Supply chain optimization
- Outsourcing
- Information/Integration technology and the supply chain
Programme scope, delivery arrangements and suitability are confirmed during enquiry.