Vendor Management Training

Vendor Management Training

Maximize your technology vendor and supplier relationships with our best in class custom Vendor Management Training.

Why is this right for you?

  • Custom Training that is tailored to your needs
  • Transform your third-party relationships from Tactical to Strategic
  • Drive more value, higher ROI
  • Reduce costs from your technology contracts
  • Understand third-party risks and manage them

What you will learn?

Topic

Learning Objectives

Introduction to Vendor Management
•Understand the importance of vendor management
•Know the roles and responsibilities of vendor management teams and challenges
•Understand the benefits of effective vendor management.

Vendor Identification & Due Diligence
•Business need identification
•Understand how to identify and select vendors; Understand the criteria for evaluating vendors
•Understand the importance of due diligence in the vendor process based on the type of different technologies involved.

Contracting & Negotiation

Cost Reduction
•Understand the key elements of a vendor contract
•Understand high-level negotiation process
•Understand how to establish and maintain effective relationships with vendors
•Dispute Resolution process and best practices

Performance Monitoring
Issue Management
•Understand the importance of monitoring vendor performance
•Understand how to set vendor performance goals and metrics
•Understand how to manage vendor Issue Management and take corrective action.

Risk Management & Regulatory Requirements
•Understand the types of vendor risks and their impact based on risks and control assessments (DR, BCP, Compliance, Privacy, Cyber Security, Financial Due Diligence, AML & Fraud etc.)
•Understand how to identify, assess, and manage vendor risks
•Understand why a vendor risk management plan is critical
•OCC, OSFI and AMF rules and regulations to take in consideration when managing third-parties

Relationship Management
•Understand the importance of building strong vendor relationship and relationship lifecycle
•Understand how to establish effective communication with vendors

Vendor Crisis & Conflict Management
•Understand how to resolve conflicts with vendors
•How to effectively manage vendor relationship and next steps during crisis

Tools & Technologies
•Understand the tools and technology used in vendor management
•Understand how to select and implement the right vendor management tools and technology for the organization

On-going Monitoring, Compliance & Governance
•Understand the on-going activities such as compliance (SOC2 reports, DR Plan, Insurance certificates etc.,), Cyber Security Audits, Annual risk and control assessments
•Measure SLAs/Performance. Governance Scorecards and QBRs/Annual Reviews, Exit Strategies, Issue Management
•Adverse media coverages and regulatory changes
•Regular vendor performance and feedback reviews with internal stakeholders

Best Practices
•Discuss how to apply vendor management principles in the organization
•Identify next steps for improving vendor management in the organization

Participants solve a case study at the end of the course to demonstrate what they learnt. 

Price

Pre Assessment- CAD $1,000
Training - CAD $1,999 PP
Case Study - CAD $499 PP

Contact us to schedule your session at contactus@vendormanagementoffice.net