Vendor Management Essentials
This course will take you through a Vendor Management process including outlining a Vendor Policy Document, developing Vendor Key Performance Indicators, assessing of potential vendor risk, describing components of a vendor contract, and monitoring the performance and relationship of vendors using questionnaires, form and auditing.
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Over 90% of companies have vendors that they buy from and some have a lot of vendors! Having several vendors and certainty thousands requires a systematic way to manage all of these vendors. In order to ensure maximum value to your business it is important to understand the benefits and challenges to vendor management so that you can define an effective vendor management process.