Vendor Management: Performance, Selection & Contracting

Course overview

Course outline

1. 1Day 1: Foundations of Vendor Management

   • Understanding vendor management concepts and organizational value
   • Exploring the stages and components of the vendor management lifecycle
   • Examining the role of supplier management in supporting business performance
   • Identifying common operational challenges in managing vendors
   • Understanding responsibilities and governance within vendor relationships
   • Building a structured approach to supplier management activities
2. 2Day 2: Vendor Evaluation and Selection Strategies

   • Identifying important factors in selecting suitable vendors
   • Understanding different supplier categories and evaluation approaches
   • Exploring sourcing methods and supplier identification techniques
   • Assessing supplier proposals and conducting evaluation reviews
   • Performing due diligence and capability assessments
   • Applying practical approaches and best practices in vendor selection
3. 3Day 3: Contract Development and Vendor Performance Management

   • Understanding the fundamentals of vendor contracting processes
   • Reviewing important elements and structures of vendor agreements
   • Managing supplier performance against contractual obligations
   • Developing performance indicators and service measurement criteria
   • Monitoring and improving supplier outcomes and compliance
   • Applying effective practices in contract and performance management
4. 4Day 4: Communication and Strategic Vendor Relationships

   • Developing effective communication approaches with suppliers
   • Building collaborative relationships that support long-term value
   • Managing communication barriers and relationship challenges
   • Encouraging collaboration and continuous improvement initiatives
   • Strengthening trust and partnership effectiveness
   • Applying best practices for relationship management and stakeholder engagement
5. 5Day 5: Legal Considerations and Risk Management in Vendor Relationships

   • Understanding legal principles affecting vendor management activities
   • Reviewing supplier agreements and identifying potential risks
   • Understanding contractual responsibilities and obligations of involved parties
   • Examining methods for dispute prevention and resolution
   • Managing compliance requirements and legal exposure
   • Applying risk mitigation strategies and vendor governance practices