Vendor Management Training

Course Objectives:

By the end of this workshop, participants will be able to:

1.  Understand the principles and importance of vendor management.
2.  Develop effective vendor selection and evaluation strategies.
3. Manage vendor contracts, compliance, and risks.
4. Build and maintain strong vendor relationships.
5. Monitor and improve vendor performance.
6. Implement best practices and technology tools for vendor management.

Course Modules:

Module 1: Introduction to Vendor Management

• Definition and importance of vendor management
• Role of vendors in the supply chain
• Strategic vs transactional vendor relationships
• Key challenges in vendor management

Module 2: Vendor Selection & Qualification

• Identifying potential vendors
• Pre-qualification criteria
• Request for Information (RFI), Proposal (RFP), and Quotation (RFQ) processes
• Vendor evaluation matrices

Module 3: Contract Management & Negotiation

• Types of vendor contracts and agreements
• Contract negotiation techniques
• Key performance indicators (KPIs) and service level agreements (SLAs)
• Legal and regulatory compliance

Module 4: Risk Management & Compliance

• Identifying and assessing vendor risks (financial, operational, reputational)
• Vendor audits and due diligence
• Compliance monitoring and reporting
• Contingency planning and mitigation strategies

Module 5: Performance Monitoring & Relationship Management

• Measuring vendor performance against KPIs and SLAs
• Vendor scorecards and performance dashboards
• Communication and relationship-building strategies
• Addressing conflicts and performance issues

Module 6: Strategic Vendor Partnerships

• Long-term collaboration strategies
• Innovation and continuous improvement with vendors
• Supplier development programs
• Aligning vendor strategy with business goals

Module 7: Technology & Tools in Vendor Management

• Vendor management software and platforms
• Data management and reporting
• Automation in procurement and vendor tracking
• Using analytics for decision-making

Module 8: Case Studies & Practical Exercises

• Real-world vendor management scenarios
• Group exercises on vendor evaluation, negotiation, and performance review
• Developing a vendor management plan for participants’ organizations
• Lessons learned and discussion of best practices

Assessment & Certification:

• Group exercises and practical assignments
• Knowledge assessment / quiz
• Certificate of Completion awarded upon successful participation