Vendor Management and Development

Growing competition within the global economy has for many years been forcing enterprises to reduce their costs. However, traditional approaches have been limited to eliminating wastage within an enterprise. Another way has now opened up, through outsourcing. Cooperation with subcontractors can make them more efficient and thus enable goods to be purchased at lower prices.

Vendor  Management and Development will help you understand various strategies to be deployed to make purchasing a profit centre for the management through various processes:

One of the primary objectives of VMD is to instil a sense of responsibility and commitment to meet ever challenging demands of Quality, Cost and Speed in our efforts to meet and exceed  the expectations of customers both internal and external leading to elimination of wastes , rework , defects and ultimately conformance to valid product requirements.

Vendor Selection & Management       

Takes you through the various strategies on vendor selection and management.

Partnerships .To achieve a high level of supplier development, the partnership idea has to be fully accepted both by the subcontractors and by the procuring (or contracting) enterprises, and it is thus necessary for enterprises to operate in a climate of equity and mutual trust, with a knowledge of and respect for each other’s rights and obligations.

Vendor Development is a broad concept aimed at strengthening the performance of subcontracting firms not only by enabling them to acquire the skills and capacities required of them by the main contracting (or client) enterprise but also by raising their awareness and assisting them in reducing their costs.

Today’s fast-paced business world is evolving at a rate such that market leaders have no choice but to continually adapt to emerging strategies in order to gain an edge over the competition. Building a strong Vendor quality management strategy isn’t only advisable; it’s requisite in today’s global economy. And market leaders are turning it into a competitive advantage.

The program will help you define the necessary assistance to be provided to subcontracting firms in regard to cost control, pricing policy, technological improvements, quality management, certification, Internal enterprise organization, logistics and the environment.

Program Content:

• Vendor Management /Development
• Vendor Rationalization
• Various models on Vendor Rating & Assessment
• Vendor Selection Cost of Quality
• Vendor accountability on Quality of their supplies
• Build Vendor Quality Systems
• Alternate Source development
• Negotiation skills
• Vendor Development – Value drivers
• Vendor accountability to Quality
• Quality Performance
• VOC / VOP
• Process capability
• Vendor flexibility
• Delivery Performance
• Key Performance Indicators (KPIs) of all related processes and actions to Accelerate Operational Excellence
• Vendor meet
• Vendor reward scheme
• Vendor satisfaction survey

The program will help you analyze the supplier’s problems and the solutions to be adopted. It will help you develop cooperative relations with the suppliers which in turn will help you reduce your cost of procurement , reduce inventory levels , reduce overall cycle time , improve quality ,cut down wastes & redundant operations , implement better processes ,  essential for sustainable development and for achieving mutual benefits and forge “win-win” relationships.

The program takes through various scientific methods (IBM  & Bell) of Vendor Rating & Capability Assessment in order to develop a healthy Vendor base which will help you reduce your working capital and lead time of your products

To achieve the survival mantra of cost quality and speed , more and more organizations are adopting the Vendor Quality Management Strategies to remain competitive and remain market leaders.

Helps you evaluate the SC flexibility to meet fluctuations in customers demand on increased volumes and advancing time lines.

Develop an enterprise culture centered on supplier’s accountability for quality and timely delivery

 How to Register:

• Fees: Rs. 3,500/- +18% GST per person.
• Please write to register@princetonacademy.co.in/ Call -022 67256200
• Mention the name of participant, company, contact details.
• Cheque favoring Princeton Academy Mumbai II Pvt. Ltd. payable at Mumbai.
• Fees includes lunch, tea, course material etc.

Target Audience

The training is suitable for

• Purchase Heads or SCM Heads
• Vendor Managers
• Senior Operations Managers
• All Professionals in Sourcing & Procurement domain