• Course
  • Vendor

In this course, you will learn the skills needed to effectively manage vendors. Through hands-on exercises, you'll develop an integrated understanding of how vendors are chosen, motivated and managed.

  • Course Start Date: 2019-03-28
  • Time: 08:30:00 - 16:30:00
  • Duration: 2 days 08:30 AM - 04:30 PM
  • Location: Toronto
  • Delivery Methods(s): Instructor Led

Course Outline

Pre-Requisites

Experience working with vendors in a large organization

Lessons

Manage your vendors and achieve optimum results by applying proven tactics and tools of success.

In this course, you will learn the skills needed to effectively manage vendors. Through hands-on exercises, you'll develop an integrated understanding of how vendors are chosen, motivated and managed.

During this course you will be introduced to the procurement life cycle and the three pillars of successful vendor management: commitments, relationships, and metrics. Commitments refer to the exchange of obligations in the forms of agreements, contracts, and statements of work. Relationships refer to the management of interactions between buyer and seller, starting from governance protocols to the negotiations of change. Metrics refer to the data that is collected during the execution of a procurement project and used to gauge performance. You will learn how to design metrics that will motivate the desired behavior and maximize value.

If you are pursuing a university-recognized and/or accredited certificate in Canada or continuing education units in the US, you must attend at least 90% of class, participate in class exercises, and score at least 72% on an end-of-class, multiple-choice assessment.

What You'll Learn
  • Procurement life cycle and its relationship to vendor management
  • Three pillars of vendor management success
  • Importance of carefully exchanging commitments
  • Elements of contracts, statements of work (SOWs), and service level agreements (SLAs)
  • Variety, function, and components of vendor agreements
  • Change control procedures and governance practices
  • Negotiating techniques that support productive working relationships
  • Role and function of performance metrics, key performance indicators (KPIs), and vendor performance scorecards
  • Managing vendor relationships as the key to success
Who Needs to Attend
  • Anyone who interacts with vendors, either as a manager or a user of vendor supplied services
  • Project managers, program managers, supervisors, and general managers
Follow-On Courses
  • Project Management Fundamentals (PM01)
Course Outline
1. Foundations
  • Vendor Management Success
  • Procurement Life Cycle
  • Procurement Life Cycle vs. Vendor Management
  • Three Pillars of Vendor Management Success
    • Commitments
    • Relationships
    • Metrics
  • Vendor Selection Techniques and Considerations
2. Commitments
  • Exchange of Commitments to Vendor Management Success
  • Various Types of Vendor Agreements
  • Evaluation of Bid Proposals
  • Structure and Purpose of Contracts
  • Creating Effective SOWs
  • Contract Type in Relationship to Delivery Risk
3. Relationships
  • Managing Vendor Relationships
  • Vendor Governance Practices and Procedures
  • Changing Controls Systems
  • Escalation Pathways
  • Negotiating in a Principles Way
  • Sharing Success with Vendors
  • Alternative Dispute Resolution Techniques
  • General Management Skills
    • Communications
    • Delegation
    • Motivation
4. Metrics
  • Vendor Metrics
  • Focusing on the Best Metrics not the Easy Ones to Collect
  • Application of KPIs
  • Role of the Responsibility Assignment Matrix (RASCI)
  • Score Cards and Vendor Performance Reporting
  • Balanced Score Cards
  • Continuous Improvement

Cancellation Policy

We require 16 calendar days notice to reschedule or cancel any registration. Failure to provide the required notification will result in 100% charge of the course. If a student does not attend a scheduled course without prior notification it will result in full forfeiture of the funds and no reschedule will be allowed. Within the required notification period, only student substitutions will be permitted. Reschedules are permitted at anytime with 16 or more calendar days notice. Enrollments must be rescheduled within six months of the cancel date or funds on account will be forfeited.

Training Location

GK at ctc Toronto
595 Bay Street

Toronto, ON
Canada   

About Global Knowledge

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Global Knowledge is the world's leading learning services and professional development solutions provider. We deliver learning solutions to support customers as they adapt to key business transformations and technological advancements that drive the way that organizations around the world differentiate themselves and thrive. Our learning programs, whether designed for a global organization or an individual professional, help businesses close skills gaps and foster an environment of continuous talent development.

Training Provider Rating

This vendor has an overall average rating of 4.38 out of 5 based on 421 reviews.

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Wasn’t as advanced as I thought it would be. There was an issue when the day my course was the first time they used a new platfo ... Read more
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Wasn’t as advanced as I thought it would be. There was an issue when the day my course was the first time they used a new platform.. from adobe to something called zoom; I had to call support line cause it stated our instructor wasn’t present. Thankfully I called cause everyone online was in the adobe virtual classroom waiting for what looked like a teacher who didn’t show up for class (IT didn’t get anything resolved until 10mins after start time). I felt like he was really getting hung up on very basic knowledge for the first half of the course (talking about how to create tabs and drag formulas as an example). I completed files a few times before he was done explaining. There was a scheduled fire drill for them (roughly 30mins)that also cut into our time, which wasn’t deducted from the hour lunch break or the two, fifteen min breaks. I also really wish he touched base more on the automating workbook functions portion which we barely did. I'm happy there were/are those study guides (learning videos) and exams to take on my own time that I hope after I've had the class are still available for me to learn from.

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It was difficult to practice on my PC while trying to watch the presentation online.
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David was excellent!! I am very for having this course!!
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Everything was great, but the instructor wasted a lot of time talking about unrelated subjects (like demo-ing different programs, ... Read more
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Everything was great, but the instructor wasted a lot of time talking about unrelated subjects (like demo-ing different programs, talking about other classes, and talks about how Excel/technology has changed) took up way too much time. The course could have been condensed or better focus would have been great

Did not actually receive the course materials yet (and the course has concluded). Ratings assume that I will receive the course m ... Read more
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Did not actually receive the course materials yet (and the course has concluded). Ratings assume that I will receive the course materials as soon as possible.

Course Reviews

This course has an overall avarage rating of 3.63 out of 5 based on 2 reviews.

Previous

Cristina Fitzpatrick attended this course May 2017

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Very good course that covered a good amount of topics that pertained to vendor management. Would have scored the course 100% except that not... Read more
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Very good course that covered a good amount of topics that pertained to vendor management. Would have scored the course 100% except that not all the information was relevant to me. The course seemed to be more focused on managing service or IS&T vendors while I was looking for vendor info on those supplying goods.

Ivy Xu attended this course Jul 2014

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Course Content

Delivery Structure

Instructor Ability

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