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\nVendor Management: How to Work with Vendors\n

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\nVendor Management is the process of working with vendors to get the things you need for your project, when you need them, to the specifications you need, and at a fair price. So, how can you work with your project’s vendors, to achieve...\nVendor Management is the process of working with vendors to get the things you need for your project, when you need them, to the specifications you need, and at a fair price. So, how can you work with your project’s vendors, to achieve this?

We already have a video on How to Work with Consultants:
   • How to Work with Consultants  

So, we’re focusing on suppliers of:
• Products
• Materials
• Equipment
• Pro-forma services

What is a vendor?
Vendor = Supplier or reseller

VRM Vendor Relationship Management
Process for managing relationships, controlling costs, risks, and quality, and so achieving value.

Vendor Management
Wider process, that also includes:
• Selection
• Contract management
• Performance monitoring & evaluation

The Vendor Management Process
- Vendor selection
- Establish your relationship
- Be Scrupulous

To Support Your Vendor Management Processes, You Will Need:
• Time tracking
• Cost tracking
• Deliverable or Outcome metrics (and KPIs)
• Liaison process
• Trust, transparency, collaborative mindset

There are vendor management software tools.\n
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Resource Details

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Educator Rating
Not yet Rated
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Media Length
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6:30
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Grade
10th - Higher Ed
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Subjects
Career & Technical Education
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Media Type
Instructional Videos
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Source:
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\nOnline PM Courses\n\n
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Date
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2022
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Language
English
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Audiences
For Teacher Use
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Usage Permissions
Fine Print: Educational Use
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Concepts

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products, work, trust, transparency
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Additional Tags

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vendor management, how to work with vendors, vendor management process, vendor manager, manage vendors, managing vendors, vrm, vendor relationship management, supplier management, supplier relationship management, procurement, project procurement, contract management, procurement management, project management, contract management in procurement, vendor management best practices, project vendor management, collaborative mindset, process, make, wrong, vendor, relationship, vendors, video, focus, materials, managing, selection, choosing, services, care, finally, contract, goods, providing
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Classroom Considerations

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Best For: Explaining a topic
Video is ad-free
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