Jump Start Your Vendor Management Initiative

Gain fast, measurable results within the first 100 days.

Onsite Workshop

Your vendor performance is unsatisfactory if:

  • Vendors are out of control and not held accountable to deliver contracted obligations.
  • Too many vendors are providing similar services.
  • You are wasting time and resources with non-critical vendors.
  • Value creation from vendor negotiations or vendor management activities is not calculated.
  • There is over reliance on certain vendors.

Begin a vendor management initiative (VMI) to:

  • Create a 100-day action plan to achieve quick wins.
  • Understand your organization’s current vendor management maturity.
  • Identify strategic vendors to focus vendor management efforts.
  • Identify commodity vendors to drive vendor consolidation and price reduction.
  • Identify and track action items for each vendor.
  • Forecast, track, validate, and report value creation of vendor management activities.

Module 1: Define

The Purpose

Define your vendor management initiative.

Key Benefits Achieved

Your vendor management initiative is defined and scoped.

Activities: Outputs:
1.1 Review top 10 VMI goals.
1.2 Draft VMI mission and charter.
  • VMI Mission Statement and Goals
1.3 Determine VMI scope.
  • VMI Scope
1.4 Establish a baseline headwinds and tailwinds.
  • VMI Baseline Assessment
1.5 Establish responsibilities (RACI).
  • Completed RACI Chart

Module 2: Evaluate

The Purpose

Evaluate your current vendor management initiatives.

Key Benefits Achieved

Understand the maturity level of your organization’s vendor management initiative.

Activities: Outputs:
2.1 Conduct VMI maturity assessment.
  • VMI Assessment and Gap Analysis
2.2 Identify attributes of a valuable vendor.
2.3 Build vendor classification process.
  • Configured Vendor Classification Tool
2.4 Review and configure classification tool.
2.5 Review vendor preferencing model.

Module 3: Create

The Purpose

Create a foundation and framework for your vendor management initiative.

Key Benefits Achieved

Establish key tools and templates for your vendor management initiative.

Activities: Outputs:
3.1 Identify VMI “quick wins.”
  • List of VMI Quick Wins
3.2 Draft “first 100 days” plan.
  • Draft First 100-Day Plan
3.3 Create business review agenda.
  • Business Review Agenda
3.4 Build vendor scorecard and feedback form.
  • Vendor Scorecard & Feedback Form
3.5 Establish organizational structure.
  • Executive Vendor Brief
3.6 Review sample job descriptions.
  • Sample Job Descriptions
3.7 Determine vendor risk.
  • Vendor Risk Assessment Tool

Module 4: Activate

The Purpose

Activate your vendor management initiative.

Key Benefits Achieved

Track and report vendor management initiatives activities as they align with short- and long-term VMI roadmap.

Activities: Outputs:
4.1 Review VMI ROI calculation and reporting tools.
  • ROI Tools and Templates
4.2 Review “First 100 Days” plan and finalize.
  • Finalized “First 100 Days” Plan
4.3 Explore operational templates.
  • Potential Operational Templates
4.4 Draft high-level strategic roadmap for the VMI’s first three years.
  • High-Level Strategic Roadmap for the VMI’s First Three Years

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