Best Practices for Working with Vendors and Suppliers
This webinar will provide information related to building vendor relationships that will best benefit your organization. Attendees will know what to look for in reviewing agreement terms that protect their employer and mitigate risk. Ken will review areas that enhance your value to a vendor and how to make vendors and suppliers work for you. During the webinar, Ken will share several real-life examples of problems and success stories in building vendor relationships. There will be examples of win-win solutions where both the customer and the vendor benefit. Participants will learn to avoid pitfalls that can cause problems for them and their organization. They will learn about monitoring vendor performance to enhance the quality of the services they provide your company or agency.
Webinar Objectives
- This is a Business Relationship
- You are representing your Company or Agency
- Your First Priority should be to look out for the best interests of your Employer
- Your Vendor will be looking out for their best interests
- Avoid getting into a personal relationship with your supplier or their representative
- Coming to Terms with your vendor
- Make your vendor aware of your company or agency purchasing terms and conditions
- Bind your agreements with vendors using your written or published terms
- Avoid using agreements drafted by your vendor
- Review all vendor terms and conditions of sale, warranty, liability, indemnification, etc.
- Limit the Risk to your Organization
- Require Insurance of all appropriate types
- Require certifications or licenses if required
- Provide for Penalties for unsatisfactory performance
- Provide convenient exit clauses for your organization
- Do a vendor Responsibility Check
- How to increase the quality of your business relationship with vendors
- Know what products and services they provide
- Offer them open and competitive solicitations
- Give them adequate time to respond to solicitations
- Monitor their Performance
- Pay them timely in accordance with your published payment terms
Webinar Highlights
- Case Studies
- Vendor is doing work that puts your company at High Liability Risk
- Vendor is not providing Quality Transportation Services
- Long time vendor is protesting their loss of Business
- Monitoring Supply vendor leads to more flexibility to the end user
- Poor results are discovered after the vendor has left the job site
Who Should Attend
- Purchasing Agents
- Finance Officers
- Contract Officers
- Accounting Officers
- Legal Counsel
- Internal Controls Officers
- Ethics Officers
