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Effective Vendor Management (EVM)
As a significant part of enterprise supply chain, sourcing organization and vendor management process has a direct operational and financial impact on the company. Often, most of the productivity and cost improvement for any company can be managed effectively through effective vendor management. This one-day interactive workshop is designed to provide the participants an overview and in-depth discussion on various elements of "Effective Vendor Management" or EVM. Participants can expect to be exposed to global best practices and case studies in EVM. Participants also will learn how to apply EVM techniques in manufacturing as well as in service sectors (non-manufacturing).
Outline
- Overview - Effective Vendor Management Scope, Framework, Roadmap, Elements
- Vendor Performance Measures (KPIs) - Operational & Financial scorecard
- Components, factors and process of Effective Vendor management
- Cost elements (visible & hidden) in managing vendor management process
- Techniques for improving vendor performance
- Roles, Skills, Knowledge and abilities needed for Vendor Management Team
- Sourcing & selecting vendors, supplier based rationalization
- Documents needed in vendor engagement and management
- Tenders, Contracts, Service Level Agreement, Dispute Resolution
- Vendor Audits & Scorecards
- Vendor Risk Management - Challenges & Change management in implementing and sustaining EVM framework and policies
- Emerging trends in EVM process due to adoption of Industry 4.0 & Digital Transformation
Who should attend
(1) Employees from sourcing & procurement team
(2) Stakeholders and members from vendor management team
(3) Managers and supervisors tasked to improve productivity and cost associated with vendor issues and inventory
(4) Store managers
(5) Operations Managers
(6) Supply chain practitioners
(7) Capex & Commodity management team
(8) finance team ( Account Payable, budgeting, forecasting)
(9) Vendors who want to improve their relationship with customers and improve their operational cost
(2) Stakeholders and members from vendor management team
(3) Managers and supervisors tasked to improve productivity and cost associated with vendor issues and inventory
(4) Store managers
(5) Operations Managers
(6) Supply chain practitioners
(7) Capex & Commodity management team
(8) finance team ( Account Payable, budgeting, forecasting)
(9) Vendors who want to improve their relationship with customers and improve their operational cost
Profile of Ramesh Rao
The facilitator holds degrees in Engineering, Finance and MBA in supply chain management. He is a certified Lean Six Sigma Master Black Belt, certified Supply Chain Professional, Certified Vendor Audit professional and a certified Design Thinking Facilitator. The facilitator comes with 26 years of global and multicultural experience as a Supply Chain Manager, Operations Director (managing multiple factories, outsource organizations and business units across Asia) and Worldwide Finance Controller (with oversight of USD 500 M, 6 business units, 3 continents and 5 countries). The facilitator has facilitated more than 100 vendors globally in vendor performance management leading to significant recurring positive cash flow to the companies he worked with. Currently the facilitator runs a business consultancy helping clients turnaround and transformation towards improved profitability. Facilitator also teaches in Singapore based universities.