A company's success is directly tied to the performance of its suppliers and vendors. Ensuring seamless operations requires a structured and formalized system that not only tracks but also evaluates the efficiency and reliability of these vendors. Our Managing Vendor Qualification, Performance, and Contract Compliance Seminar is specifically designed to empower participants with essential skills to develop and implement effective vendor management systems. By the end of this intensive Managing Vendor Qualification, Performance, and Contract Compliance training, you'll be equipped with the expertise to evaluate supplier performance, identify potential risks, and manage contract compliance—ensuring your organization maintains optimal supplier relationships and mitigates operational risks. This course delves deep into the best practices of vendor qualification, contract compliance, and performance management, enabling you to tackle challenges like supplier failures, contract disputes, and compliance management with confidence. Through interactive workshops, case studies, and expert guidance, participants will gain a holistic understanding of procurement strategies, vendor segmentation, and contract negotiation techniques. Elevate your company's procurement process and ensure that supplier partnerships drive business growth and operational excellence.

Course Objectives

By the end of the Managing Vendor Qualification, Performance, and Contract Compliance course, participants will be able to:

• Efficiently document tenders and procurement processes.
• Identify risks associated with suppliers and implement effective management strategies.
• Broaden your understanding of procurement strategies and their best practices.
• Enhance your ability to manage contract relationships and resolve disputes.
• Identify and manage supplier performance failures.
• Gain confidence in handling contract-related issues and disputes.

Duration: 5 Days

Who Should Attend

This Managing Vendor Qualification, Performance, and Contract Compliance course is ideal for:

• Project and procurement staff
• Engineering and operational personnel
• Maintenance personnel
• Professionals responsible for acquiring products from suppliers and vendors

Course Outline

Vendor Qualification: Developing a List of Approved Suppliers

• Differentiating between vendor and supplier
• Setting procurement goals and objectives
• Engaging end users in early supplier management
• Defining criteria for supplier selection
• Creating an approved supplier list
• Segmenting suppliers for better management

Evaluation and Assessment of Suppliers

• Supplier/vendor pre-qualification questionnaires
• Evaluation of suppliers
• Implementing quality management systems
• Conducting supplier assessments
• Achieving supplier certification (ISO certification)
• Establishing criteria for acceptance

Performance of Suppliers – What to Measure

• Developing objectives aligned with institutional goals
• Characteristics of an effective performance measurement system
• Designing a supplier performance system
• Implementing the system

Performance of Suppliers – Results Interpretation

• Rating individual suppliers
• Ranking suppliers and disseminating results
• Rewarding good behavior and recognizing top suppliers
• Implementing corrective action procedures

Breach of Contract Remedies

• Understanding breach components and types
• Exploring available remedies for breaches
• Quantum of damages, liquidated damages, and equitable damages
• Court injunctions and their implications