Course Description
This intensive 5-day course provides a comprehensive framework for effective vendor management, from initial qualification to ongoing performance monitoring and contract compliance. Participants will learn best practices for vendor selection, performance evaluation, risk mitigation, and contract management. The course combines theoretical knowledge with practical applications to equip procurement professionals with the skills needed to optimize vendor relationships and drive organizational success.
Learning Objectives
- Develop and implement a robust vendor qualification process
- Create effective performance metrics and evaluation systems
- Master contract compliance monitoring and risk management techniques
- Optimize vendor relationships for mutual benefit and continuous improvement
- Apply strategic sourcing principles to vendor selection and management
Course Modules
Day 1: Vendor Qualification Fundamentals
- Strategic sourcing principles
- Developing qualification criteria
- Vendor pre-screening techniques
- Creating an approved vendor list
Day 2: Vendor Selection and Evaluation
- RFP development and evaluation
- Conducting vendor assessments
- Financial stability analysis
- Risk assessment in vendor selection
Day 3: Performance Measurement and KPIs
- Designing effective KPIs
- Implementing performance scorecards
- Conducting performance reviews
- Continuous improvement strategies
Day 4: Contract Management and Compliance
- Key elements of vendor contracts
- Negotiation strategies
- Compliance monitoring techniques
- Managing contract changes and disputes
Day 5: Advanced Vendor Management Strategies
- Vendor relationship management best practices
- Strategic partnerships and collaboration
- Technology in vendor management
- Ethical considerations and corporate social responsibility
Practical Wins for Participants
- Develop a customized vendor qualification checklist
- Create a performance scorecard template
- Draft a comprehensive vendor contract
- Design a vendor risk management framework
Credits: 5 credit per day
Course Mode: full-time
Provider: Blackbird Training Centre
