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Managing Vendor Qualification, Contract Compliance & Performance

Establishing Performance Standards

Managing Vendor Qualification, Contract Compliance & Performance

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PS189
18.Nov.2024 to 22.Nov.2024
London - Premier inn Victoria
Cost 4445 £ GBP

Introduction

Vendors and suppliers are critical to a company's success. A formal system for tracking and evaluating supplier and vendor performance is critical to your company's smooth operation and profitability. Successful businesses welcome suppliers and vendors as partners in their efforts to expand their operations. As a result, you must select a supplier using the proper processes and criteria. This Supplier Qualification, Performance, and Contract Compliance Management training course take a systematic approach to teach you how to qualify suppliers, improve performance, and ensure contract compliance.

This training course provides both strategic and tactical insights into:

  • How wide is an adequate number of suppliers to maintain?

  • Selecting only the best suppliers to participate

  • How to measure their performance objectively

  • To ensure that they perform according to expectations

Course Objectives of Managing Vendor Qualification, Contract Compliance & Performance

Participants attending this training course will:

  • Comprehend to dodge combative relationships with their vendors and suppliers

  • Specify the purpose in understanding what value-add is given by the vendor

  • Specify the necessary steps in a suitable supplier evaluation

  • Matching customer requirements with the correct supplier segmentation

  • Develop meaningful performance measures

  • Learn how to use those performance results for continuous improvement

Course Methodology of Managing Vendor Qualification, Contract Compliance & Performance

Gagne's nine steps in retention to transfer knowledge to work practice is adopted through adult learning facilitation. Facilitation by an experienced practitioner and consultant, where individual and team exercises, and group discussions covering the many topics presented in the training course.

Organizational Impact of Managing Vendor Qualification, Contract Compliance & Performance

Your organization will benefit by:

  • Providing suppliers with performance
  • More elevated customer satisfaction
  • Estimate and determine to extract hidden cost drivers
  • Inventory optimization with supplier involvement
  • Fewer total cost

Personal Impact of Managing Vendor Qualification, Contract Compliance & Performance

  • Increase competency in the work assignment
  • Comprehension of the significance of supplier/vendor relationship
  • Supplier / Vendor segmentation to better manage
  • Productive evaluation

Who Should Attend

  • Contracts, Procurement and Project Personnel

  • Engineering, Operational, Quality and Maintenance Personnel

  • And all others who are involved in interfacing with contractors or suppliers in the acquisition of materials, equipment, parts and services or anyone who wants to improve supplier performance and gain successful outcomes from contracting situations

Course Outline

DAY 1

Vendor Qualification: Compiling an Approved Supplier List

  • Distinguish between Supplier and Vendor

  • Determining the Goals and Objectives of Procurement

  • End-user Involvement in Earlier Supplier Management

  • Compiling Supplier Selection Criteria

  • Developing an Approved Supplier List

  • Supplier Segmentation

DAY 2

Supplier Evaluation and Assessment 

  • Vendor / Supplier Pre-qualification Questionnaire

  • Supplier Evaluation

  • Quality Management Systems

  • Performing a Supplier Assessment

  • Certification of Suppliers

  • ISO Certification

  • Setting Acceptance Criteria

DAY 3

Supplier Performance - What to Measure?

  • The setting of Objectives that are aligned with the Goals of the Company

  • Characteristics of a Good Performance Measurement System

  • Developing a Supplier Performance System

  • Supplier Performance Management and Metrics

  • Implementing the System

DAY 4

Supplier Performance – Interpreting the Results

  • Rating the Individual Supplier

  • Ranking Your Suppliers

  • Disseminating the Results: What to do and what not to do?

  • Rewarding Good Behavior

  • Supplier Recognition

  • Corrective Action Procedures

DAY 5

Remedies for Breach of Contract

  • What constitutes a Breach?

  • The Different Types of Breaches

  • The Different Remedies Available

  • Determining the Quantum of Damages

  • Liquidated Damages

  • Equitable Damages

  • Court Injunction

Associations

PS189
18.Nov.2024 to 22.Nov.2024
London - Premier inn Victoria
Cost 4445 £ GBP