Managing Vendors - A Crash Course
Published 3/2025
MP4 | Video: h264, 1280x720 | Audio: AAC, 44.1 KHz, 2 Ch
Language: English | Duration: 2h 41m | Size: 1.84 GB
Keys to building a productive vendor ecosystem
What you'll learn
Formulate a vendor strategy that is aligned to the business
Identify and evaluate vendors using key selection criteria
Negotiate win-win contracts that balance cost, quality and risk
Get the vendor 'up and running' as quickly as possible
Monitor vendor performance in a transparent manner
Proactively address risks and challenges
Effectively close or continue the relationship with a vendor
Requirements
You will learn everything you need to know
Some prior experience of working with vendors will be beneficial
Description
Do I need to learn about vendor management?This course provides you with all the essentials on vendor management.Most organisations rely on other companies, i.e. vendors, to provide them with products or services, such as raw materials, IT services, property, accounting etc. However, working with vendors can be challenging - vendors can underperform, or lock clients into contracts that benefit them more than their clients. Choosing the right vendor, and developing productive vendor relationships, can avoid these and other risks.Intended AudienceThose involved in working with vendors.Those involved in selecting vendors.Procurement professionals.Members of a vendor management office.Those involved in developing strategic partnerships.Course OutlineThis is a crash course - 2 hours plus of content - to get you quickly up to speed on how to get the best out of vendors and start building a productive vendor ecosystem.In this course, you will learn about the different stages of the vendor lifecycle. Vendor Strategy - Formulate a vendor strategy that is aligned to the business.Vendor Selection - Identify and evaluate vendors using key selection criteria.Contracts and Negotiation - Negotiate win-win contracts that balance cost, quality and risk.Onboarding and Transition - Get the vendor 'up and running' as quickly as possible.Performance Management - Monitor vendor performance in a transparent manner.Vendor Risk Management - Proactively address risks and challenges.Closure and Continuation - Effectively close or continue the relationship with a vendor.You will pick up practical tips and advice on how to handle each stage of the lifecycle.However, this is not about using a 'cookie-cutter' approach - you will need to tailor what you learn to your specific organisational context and industry. What works in one industry may not be directly applicable in another industry.Why this Course?This course seeks to maximise your time, and make your learning experience as productive as possible.Covers the entire vendor management lifecycle.Key topics organised according to each stage of the lifecycle.Practical tips and advice.Short, concise, easy-to-digest videos.Clear, well-written slides.
Who this course is for
Anyone involved in vendor selection
Anyone involved in working with vendors
Procurement professionals
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