Our modern business is about promoting good relationship with vendors. Ability to develop sustainable relationships between business owners and vendors can create a win-win business relationship. We need to have a systematic vendor management strategies framework that allows value creation that clients are perceived. It is crucial to observe vendor management best practices and build a mutually strong relationship with vendors and this will strengthen organisation’s overall performance.

Through this module, participants would understand the importance of organization to build positive relationships with vendors / suppliers and the element of supplier integration. As part of discussion structure, trainer would introduce to a range of risk identification techniques when dealing with selection of vendors which including initial assessment and pre qualification process. Further, participants are shown the concept of quality control and reliability and also evaluation of vendors’ performance. Negotiation techniques and final evaluation based on interview results will be part of the course content which participants could creatively decide on the model and approach that suits to organisational business environment. The discussion also covers the fundamental of how products and services are acquired and ordered, such as getting quotations, evaluations, raising purchase orders and arranging payment knowledge and skills of participants.

This module will be presented by a trainer who had gained years of experience in major industries. Crucial procurement principles and establishment of contract will be taught by trainer through lecturing and open discussions. Sharing of knowledge and information between trainer and participants, it will help to stimulate participants’ understanding and is expected to enhance participants’ confidence in the related topic