Managing Vendor Qualification, Performance & Contract Compliance

Course Overview

The decisions on where to purchase components, raw materials, manufacturing, and testing equipment, and even consulting services must be well-informed and documented through a vendor qualification process. The results of poor purchasing decisions can lead to situations that impact product quality, regulatory compliance, company profits, and even the company’s reputation.

Suppliers and vendors play a vital role in the company’s success. Having a formalised system in place to track and evaluate supplier and vendor performance is essential to the smooth operation and profitability of the company. Successful companies embrace their suppliers and vendors, viewing them as partners in helping to grow the business; therefore, we must ensure we use the right processes and criteria to select our suppliers.

The Managing Vendor Qualification, Performance & Contract Compliance training course will explain best practices for building a sustainable vendor qualification process. It will also adopt a systematic approach to demonstrate the optimal methods for enhancing vendor performance and ensuring contract compliance.

Course Objectives

After the training course, the participants will learn to:

• Understand to avoid a combative relationship with their suppliers and vendors
• Establish the goal of understanding what value-add is given by the vendor
• Establish the vital steps in a proper supplier evaluation
• Matching customer requirements with the correct supplier segmentation
• Develop meaningful performance measures
• Learn how to use those performance results for continuous improvement

Target Audience

It is suitable for a wide range of working professionals, including (but not limited to) the following:

• Contracts, Procurement and Project Personnel
• Engineering, Operational, Quality and Maintenance Personnel
• And all others who are involved in interfacing with contractors or suppliers in the acquisition of materials, equipment, parts and services or anyone who wants to improve supplier performance and gain successful outcomes from contracting situations

Training Methodology

This training course will provide a valuable exchange of knowledge, ideas, and experiences—Immerse in experiential activities, collaborative group exercises, and face-to-face networking opportunities with your peers. There will be an alternation between theoretical expositions and practical exercises – individual and in groups, analysis of case studies, directed debates with the group’s active participation, and simulations of representative situations of the professional context.