Vendor Management

Running a business is not just about taking care of your customers. It is also just as important to take care of your suppliers. This one-day course introduces the participant to the concept of Vendor Management and why it is an important aspect of doing business. Participants are given a complete overview on the procurement team’s scope emphasizing on why a proactive approach in managing vendors can be crucial to the organizations business strategy.

At the end of this course, the participant should be able to:

  • Describe the scope of vendor management and the procurement team’s responsibility
  • Apply Porter’s Five Force Framework in understanding his/her organization
  • Describe the current state of the sourcing environment both globally and locally
  • Describe the different stages in Vendor Management
  • Perform a Post-Evaluation of Suppliers using either the categorical method or the weighted-point plan
  • Perform a Post-Evaluation of Suppliers using a Cost-Ratio plan
  • Describe the various supplier classifications
  • Describe the various vendor management strategies
  • Describe the advantages and disadvantages of the various types of supplier relationships

Course Outline

  • Introduction
    • The true scope of Vendor Management
    • Procurement Responsibility
    • Porter’s Five Forces Framework
    • Activity: Porter’s Five Forces
  • The Sourcing Environment
    • The global shift to a buyer’s market
    • The Philippine Procurement Law
  • The Vendor Management Process (Source Selection)
    • Source Selection
    • Survey Stage
    • Inquiry Stage
    • Negotiation and Selection Stage
    • Experience Stage
    • Post-Evaluation of Suppliers
      • Categorical Method
      • Weighted Point Plan
    • Activity: Post-Evaluation of Suppliers
    • Cost-Ratio Plan
    • Activity: Cost-Ratio Plan
  • Supplier Classification
  • Vendor Management Strategies
  • Supplier Relationships
    • Supplier Relationship Model
    • Supplier Relationship Continuum
    • Summary and Wrap Up

Who should attend

  • Business Owners and Entrepreneurs
  • Purchasing Managers and Officers
  • Finance personnel dealing with suppliers
  • Operations Managers
  • Anyone who is interested in knowing more about how to manage suppliers better

Course Fee is inclusive of AM/PM snacks, lunch, access to the xworks learning management system, digital course materials, and course certificates.