Effective Vendor Management
Jul 28, 2017
Publisher: SCMA

Research shows that 17 – 40% of negotiated benefits erode over time due to ineffective vendor management governance. Managing a large supplier base of a company can be a daunting task. So how can we stay on top of it and hold our vendors accountable? The role of Vendor Management – whichever department is responsible for this function – is crucial to ensure competitive advantage and best-in-class risk management practices.

This webinar will provide insight into vendor management best practices, including practical, “hands-on” ideas how to classify your supplier base so that strategic suppliers are managed according to their criticality to the company. Establishing proper Service Level Agreements (SLA) will also be discussed.

Learning Outcomes

Participants will learn:

  • The causes for value erosion and how to recover lost value (negotiated benefits)
  • Best practices for contract hand-over after contract signing
  • How to create a vendor classification grid that helps with prioritization – spending the right amount of time with the right suppliers 
  • What SLA terms drive the most accountability for suppliers
  • How to drive more value from existing suppliers through innovation

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