Training on Vendor Pre-qualification and Management
Decisions about where to buy components, raw materials, manufacturing and testing equipment, and even advisory services should be well-informed and documented through a vendor qualification process. Making bad purchasing choices can result in circumstances that affect product quality, regulatory compliance, business earnings, and even the company’s reputation.
Training on vendor pre-qualification and management takes participants through best practices for developing a long-lasting vendor qualifying process. The training will adopt a practical approach to illustrate the best ways to improve vendor performance and guarantee contract compliance.
Target Participants
Training on vendor pre-qualification and management targets contract, procurement, supply chain and projects personnel
Course Duration
Online 7 Days
Classroom-based 5 Days
What you will learn
By the end of this course the participants will be able to:
- Design a sustainable vendor qualification program
- Choose the ideal prospective vendor
- Determine what a prospective vendor must provide before being approved
- Calculate the time and costs involved with vendor qualifying
- Identify typical mistakes to avoid while selecting vendors
- Create impactful performance metrics
- Use performance results for continuous improvement
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
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
Supplier Performance - What to Measure?
- 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
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
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
