Seat Time: 3 hrs
This course will introduce the learner to the processes by which vendors and suppliers should be managed. The course will familiarize the learner with strategies for assessing risk, identifying candidates, and avoiding conflicts of interest, in addition to other details regarding the maintenance of strong vendor and supplier relationships. After completing this course, the learner will understand:
- How to properly solicit information from vendors and suppliers.
- How to rate vendor proposals.
- The importance of conducting due diligence measures.
T1. Importance of Vendor Management: This topic will provide the learner with information regarding the vendor management process, and the benefits of successful vendor management.
T2. Defining Scope Establishing Selection Criteria: This topic will familiarize the learner with the process of vendor selection, common criteria that is considered for evaluating vendors, and provides a distinction between a single and multiple vendor system.
T3. Assessing Risk: This topic provides the learner with different aspects of risk that should be evaluated by organizations before they select a particular vendor.
T4. Identifying Candidates: This topic will provide the learner with possible sources from which an organization can identify potential vendors.
T5. Avoiding Conflicts of Interest: This topic will provide the learner with important information regarding the prevention of fraud, bribery, extortion, and conflicts of interest from occurring during the vendor selection process at an organization.
T6. Soliciting Information: This topic will provide the learner with information regarding the solicitation of information from vendors and offers a clear distinction between Requests for Information (RFIs), and (RFPs).
T7. Rating Vendor Proposals: This topic will provide the learner with detailed descriptions of the two methods for evaluating vendor proposals, and includes examples of each.
T8. Conducting Due Diligence: This topic will provide the learner with procedures for confirming information about a particular vendor after an organization has identified its final list of potential vendors.
T9. Establishing a Contract: This topic will provide the learner with different elements included in a vendor contract, and will demonstrate the importance of careful negotiation.
T10. Terms to Consider: This topic will identify and define terms typically used in vendor contracts, and emphasize the meaning of these terms, demonstrating why they must be considered by an organization.
T11. Relationship Management: This topic will provide the learner with key elements to maintaining a relationship between an organization and a vendor, and identifies the steps that should be taken after a vendor contract expires.