Vendor Management Training: Definition, Benefits and Hiring Tips

May 18, 17 Vendor Management Training: Definition, Benefits and Hiring Tips

Vendor management is an integral part of your business. Vender violations could doom your supply chain operations, hurt your bottom line and even kill your long-term ROI. By choosing the right vendor management certification program, you can achieve vendor management success with greater ease.

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Vendor Due Diligence Reviews Training-Some Basics

Mar 02, 17 Vendor Due Diligence Reviews Training-Some Basics

It is your organizations responsibility to perform vendor due diligence reviews. In some industries (banking and others) it is vital that vendor due diligence reviews are carried out or there could be fines and other sanctions imposed by regulatory bodies. Of course, regulatory bodies are not the only concern, a vendor’s failings can easily soil the reputation of your company and result in a lost client base.

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Crucial Tips for Third Party Management

Jul 15, 16 Crucial Tips for Third Party Management

In business, one has to take calculated risks to its full potential. However, some of the risks taken have the potential of spelling doom for the business if you do not have a way of mitigating the outcomes. A third party risk management course can equip with you with the skills and knowledge about risk management.

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Benefits Of Vendor Relationship Management (VRM) Training

Jul 12, 16 Benefits Of Vendor Relationship Management (VRM) Training

It is important to understand that manufacturers deal with a variety of supplier and vendors. Supply chains have become more complicated in the past few years and continue to grow and expand. Because more companies realize the need to cut consumer prices, they must come up with new ways to deal with vendors. To be more profitable and efficient, these companies use vendor relationship management as a way to control and approach the sourcing of materials and goods they require and training can make it much easier to know what to do and when. The benefits of such education can be plentiful and include more efficiency, reduced costs and more.

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Critical Vendor or Critical FUNCTION?

Apr 28, 16 Critical Vendor or Critical FUNCTION?

You have HOW MANY critical vendors?!?!?!?!? While building a vendor management program for a new client a couple of weeks ago, we worked with the various business units to identify the vendors that they do business with, reconcile against the AP system, categorize them, risk rate them, include/exclude from the vendor inventory based on inherent risk and define which ones were critical. Classic approach taken by Certified Regulatory Vendor Program Managers (CRVPM). I always find the perception of CRITICAL to be very interesting. We reviewed departmental Business Impact Analyses (BIA’s) to understand which functions were critical and then looked at which vendors the departments depended on and considered critical. Interestingly, Citrix and Cisco were noted as critical vendors. The institution’s IT department supported Citrix themselves.

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