Course Objectives
Leading and Managing Vendor Relations - Virtual Learning
Course Objectives
By the end of the course, participants will be able to:
Evaluate vendor profiles for fit with organizational needs and direction
Practice vendor integration techniques to support strategic purchasing objectives
Manage vendor performance to ensure continuous improvement of offerings
Apply winning go-to-market strategies to support internal capabilities
Utilize essential soft skills to improve vendor relationship outcomes
Target Audience
Purchasing and supply chain professionals involved in supply management, vendor relations, sourcing, buying, expediting and vendor evaluation as well as personnel involved in the purchasing process.
Target Competencies
Vendor selection
Vendor integration
Vendor performance management
Sourcing strategies
Leadership
Communication
Course Outline
Vendor validation processWords of wisdom on managing vendor relationshipsSources for gathering informationVendor statusprequalification questionnairesVendor risk assessmentsSustainable vendor relationsTriple bottom lineEconomic successSocial developmentEnvironmental sustainability
Vendor development and integrationVendor developmentVendor diversity programsSupplier certificationElectronic Data Interchange (EDI)Partnering typologies
Managing vendor performanceVendor performance objectivesPerformance targetsContinuous improvement initiativesService level agreements
Go-to-market strategiesPurchasing strategy matrixSix sourcing strategiesVolume concentrationBest price evaluationGlobal sourcingProduct specification improvementJoint process improvementRelationship restructuringGroup buying and bulk pricingJust-in-Time (JIT) buying
Soft skills and vendor relations etiquetteEffective communication as a pillar for successApplication of leadership and management skills in vendor relationsCialdini’s six powerful persuasion techniquesReciprocation techniqueAuthority techniqueSocial proof techniqueCommitment techniqueLiking techniqueScarcity techniqueVendor relations etiquetteCommunicating with foreign vendors