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Leading and Managing Vendor Relations - Virtual Learning

Leading and Managing Vendor Relations - Virtual Learning

Why Attend

In business, relations and profitability go hand in hand. Having the right vendors on board and achieving the ideal relationship with them can spell the difference between good and great performance levels. In this course, we describe the spectrum of business relationships and discuss how vendor profiles can be developed to improve each relationship. We then list the different go-to-market strategies and discuss how they can be used to integrate vendor relations. Finally, we highlight the leadership and communication skills that are necessary to leverage the full extent of vendor relations.

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Overview
Course Methodology

This course uses a variety of exercises, case studies, questionnaires and videos.

Course Objectives

By the end of the course, participants will be able to:

  • Evaluate vendor profiles for fit with organizational needs and direction
  • Practice vendor integration techniques to support strategic purchasing objectives
  • Manage vendor performance to ensure continuous improvement of offerings
  • Apply winning go-to-market strategies to support internal capabilities
  • Utilize essential soft skills to improve vendor relationship outcomes
Target Audience

Purchasing and supply chain professionals involved in supply management, vendor relations, sourcing, buying, expediting and vendor evaluation as well as personnel involved in the purchasing process.

Target Competencies
  • Vendor selection
  • Vendor integration
  • Vendor performance management
  • Sourcing strategies
  • Leadership
  • Communication
Course Outline
  • Vendor validation process
    • Words of wisdom on managing vendor relationships
    • Sources for gathering information
    • Vendor status
    • prequalification questionnaires
    • Vendor risk assessments
    • Sustainable vendor relations
    • Triple bottom line
      • Economic success
      • Social development
      • Environmental sustainability
  • Vendor development and integration
    • Vendor development
    • Vendor diversity programs
    • Supplier certification
    • Electronic Data Interchange (EDI)
    • Partnering typologies
  • Managing vendor performance
    • Vendor performance objectives
    • Performance targets
    • Continuous improvement initiatives
    • Service level agreements
  • Go-to-market strategies
    • Purchasing strategy matrix
    • Six sourcing strategies
      • Volume concentration
      • Best price evaluation
      • Global sourcing
      • Product specification improvement
      • Joint process improvement
      • Relationship restructuring
    • Group buying and bulk pricing
    • Just-in-Time (JIT) buying
  • Soft skills and vendor relations etiquette
    • Effective communication as a pillar for success
    • Application of leadership and management skills in vendor relations
    • Cialdini’s six powerful persuasion techniques
      • Reciprocation technique
      • Authority technique
      • Social proof technique
      • Commitment technique
      • Liking technique
      • Scarcity technique
    • Vendor relations etiquette
    • Communicating with foreign vendors
Associations
Associations
Chartered Institute of Logistics and Transport (CILT)

Meirc is an Approved Training Provider (ATP) in the region for the Chartered Institute of Logistics and Transport (CILT). Established in 1919, CILT is the world’s leading supply chain, logistics and transport professional body with over 33,000 members across the globe. CILT seeks to add value to individual and corporate members by enhancing their knowledge, careers, and businesses by setting, supporting and delivering professional standards and education in the fields of logistics, transport and supply chain. By attending Meirc’s CILT accredited courses, participants can earn CPD units as well as attain modular unit award courses that can be combined for international certification

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Schedule & Fees

2022 Schedule & Fees

Location & Date
4 - 8 Sep, 2022
English
Virtual Learning
Fees
Per participant

USD 2250

Fees + VAT as applicable

(including coffee breaks and a buffet lunch daily)

Discount Plans & Cancellations Policy

2023 Schedule & Fees

Location & Date
Fees

Fees + VAT as applicable

(including coffee breaks and a buffet lunch daily)

Discount Plans & Cancellations Policy

Meirc reserves the right to alter dates, content, venue, trainer, and to offer courses in an integrated virtual learning (IVL) format whereby face to face classroom participants and virtual learners participate simultaneously in the same course in an interactive learning experience.

Tax Registration Number: 100239834300003

Face-to-Face Courses

This course is also offered in face-to-face courses, click on the course below.

Leading and Managing Vendor Relations
Leading and Managing Vendor Relations
4 - 8 Sep, 2022
English
Dubai
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