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

Workshop icon Book Your Workshop

Onsite Workshops offer an easy way to accelerate your project. If you are unable to do the project yourself, and a Guided Implementation isn’t enough, we offer low-cost onsite delivery of our Project Workshops. We take you through every phase of your project and ensure that you have a road map in place to complete your project successfully.

Book a Workshop View Blueprint
GET HELP Contact Us
×
VL Methodology