Vendor management looks beyond the classical sourcing tasks and explores how to establish strategic business models with the supply base to reduce risks and drive growth by collaborating and creating value in our supply chains.
Emerging markets have been fuelled by the increasing urbanization of the consumer class. Thus emerging markets will also be the sourcing grounds of the future.
Sourcing foot print decisions have a short half-life. This course will help you accommodate everything from best-cost suppliers to managing regulatory changes, challenges and unprecedented risks.
Understanding and strategically applying the tools to effective vendor management will also assist the sourcing teams to leverage and better manage global suppliers.
What Will Students Learn?
- How well do we tap our provider network with benchmarks and competitive insights
- Identify the best-practice suppliers available
- Learn to identify which parts of the company’s value chain needs to be executed in-house and what needs outsourcing
- Impact of Forex on sourcing decisions and cost to company
- Identify Make or Buy strategy methods
- Establish a global, cross-functional fact based to support decision making
- Build agile suppliers to create supplier stability and quality
What Topics are Covered?
- Developing suppliers and their ecosystems
- Volatility as the new normal translating sourcing risks
- Data driven decision making in supplier selection
- Factors that will shape the global and dynamic sourcing footprints
- Critical factors and criteria’s for vendor analysis
- Application of Lease vs Purchase as tool to resourceful buying
- Managing Global supplier relationships
- Mitigating supply chain risks
- to vendor
- Risks Assessments in Supply Chain
- Adopting Information Technology & AI for digital collaboration to enhance real time data driven decision making