Vendor Performance Management

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Vendor Performance Management  

What is the use of negotiating hard to get an excellent deal if the vendors subsequently cannot or will not fulfil the commitments they made? Would your company sell a product or a service to one of its clients and not expect payment in full? Obviously not. Yet time after time customers do not get all that was promised to them by a vendor. In most companies the Accounts Receivable function would chase for payments not made on a sale. In the best run organizations the equivalent on the buy side is the Vendor Performance Management group. This course will teach you:

Administering The Contract

  • The critical management elements of administering contracts

  • How to continue negotiating after the contract is signed

  • What to do if you need to change a contract

  • Automation tools

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    Enforcing Compliance

  • The secret to Service Level Agreements
  • Remedies: how to obtain them, their use and their power
  • The meaning of “Vendor Performance Management”
  • The metrics and performance advantages of Vendor Management
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    Optimize Performance

    • Why you can’t love a vendor into a better deal

    • How to get more than you negotiated

    • Rights vs. remedies vs. rewards

    • The true “relationship” and how to obtain benefit from it

    • Exceptional performance

    Control The Unmanageable Vendor

    • What is an unmanageable vendor?

    • What makes them unmanageable

    • 5 types of leverage that work

    • How manage the unmanageable vendor and how  to prevent re-occurrence

    Direct The Relationship

    • Understanding and using the value chain

    • Organizational implications to long-term Vendor Performance Management

    • The use and advantages of supplier tiers

    • Supplier coalitions and other strategies

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