Managing Vendor Partnerships

Course Overview

In today’s global business economy, organizations are facing the challenge of effectively leveraging outside services. Manager’s role and responsibilities have increased from handling personnel issues to effectively building relationships with suppliers. These vendor services can help the organizations in achieving improved quality products, low cost operations and better customer services. The managers or employees need to have adequate skills and competencies for developing the relationships with internal and external clients. These relationships are significantly important; any mishandling will damage the repute of the organization and incur heavy cost.

This course is designed to provide the participants with a set of tools and techniques which are necessary for vendor management so that they can effectively manage the relationships with service providers and create long term value for the organization. 

Course Objectives

After attending the course, participants will be able to:

  • Learn relationship management in order to forge valuable relations with vendors
  • Identify and differentiate the goals of the organization and vendors
  • Set mutual goals to be incorporated in the interest of the organization and vendors
  • Apply the process management techniques in order to develop valuable relationships with vendors
  • Generate balanced process performance metrics
  • Use change management techniques for inspiring the employee towards new roles
  • Recognize the cultural differences between the organization and vendors
  • Proactively shape the relationship
  • Identify when the relationship is in trouble
  • Learn how to end a contract and improve the selection of vendors
  • Develop contract and negotiation procedures

Course Contents

  • Mindset shift
  • Three important types of vendor partnerships
  • Identify the needs of partner vendors
  • Caution: Trouble spots
  • Understanding vendor partnership model
  • Process management
  • Techniques of developing valuable relationships
  • Leading change
  • Vendor governance models
  • New roles and skills
  • Performance measurement
  • Negative techniques
  • Preparing how to end the contract and create new contracts
  • Individual Assessment and Action Planning

Course Methodology

The training is going to be highly interactive combination of lectures, group discussions, questionnaires, individual reflections, role plays, simulations and videos.

Target Audience

Managers from all the departments who are involved in managing vendor relationships in the workplace.

Duration

02 Days (08:30–14:30) with appropriate breaks for tea/refreshments and lunch.

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