Comprehensive Vendor Performance Measurement & Management

Objective: Provide insights into holistic vendor performance management, focusing on quality, service, compliance, and capabilities, enabling participants to gauge and manage vendors more effectively and align them with organizational goals.

Content Covers:

Delivery Management:

  • Assessing on-time delivery performance and lead time.

  • Ensuring flexible delivery schedules and proper, accurate delivery receipts.

  • Assessing compliance, proper packaging, and correct identification and marking of packages.

Quality Assurance:

  • Managing and resolving issues, errors, and mistakes efficiently.

  • Aligning with certified testing labs and ensuring pre-ship inspection systems are in place.

  • Ensuring vendor adherence to quality standards.

ยท         Service Excellence:

  • Enhancing real-time inventory status provision and timely communication of issues or concerns.

  • Ensuring prompt and accurate technical assistance and effective handling of complaints.

  • Monitoring backorders and out-of-stock products and advising of production status.

Cost & Pricing Optimization:

  • Evaluating cost of goods compared to similar vendors and analyzing costs/pricing.

  • Managing invoices, credits, and price increases effectively.

  • Encouraging cost reduction ideas and strategies.

Strategic Capabilities Assessment:

  • Evaluating strategic capabilities and business value propositions.

  • Assessing supplier financial health, R&D strength, and supply chain capabilities.

  • Reviewing vendor policies throughout the supply chain and keeping abreast of new product development.

Outcome: Participants will acquire comprehensive knowledge and practical skills to measure and manage vendor performance effectively, ensuring alignment with organizational quality, service, compliance, and strategic objectives.

Keywords:

Vendor Performance Measurement, Vendor Management, Delivery Management, Quality Assurance, Service Excellence, Cost Optimization, Pricing Optimization, Strategic Capabilities, Compliance, Supply Chain Capabilities, Vendor Policies, Product Development

This module caters to professionals aspiring to excel in vendor performance measurement and management, offering a well-rounded understanding of various facets of vendor management, including delivery, quality, service, capabilities, and cost/pricing, empowering them to align vendor performance with organizational objectives meticulously.