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Vendors: The Good The Bad and The Ugly. Vendors vs. Partners. Key Factors in Vendor/Partner Management. Scope of services Contract structure and terms Termination Remedy SLAs Contract flexibility. Governance. Relationship. Contract. Governance structure Staffing levels

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Vendors: The Good The Bad and The Ugly

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Vendors the good the bad and the ugly

Vendors:

The Good

The Bad and

The Ugly


Vendors vs partners

Vendors vs. Partners


Key factors in vendor partner management

Key Factors in Vendor/Partner Management

  • Scope of services

  • Contract structure and terms

  • Termination

  • Remedy

  • SLAs

  • Contract flexibility

Governance

Relationship

Contract

  • Governance structure

  • Staffing levels

  • Roles and responsibilities

  • Policies and procedures

  • Common goals and vision

  • Alignment of expectations

  • Communications

  • Partnership

  • Cultural fit

Delivery

Experience

  • Actual Savings vs. the business case

  • Pricing vs. the market

  • Performance

  • Innovation and optimization

  • Access to full suppliers’ resources

  • Skills and experience of resources

PARTNERS IN SUCCESS


3 phases of onboarding

3 Phases of Onboarding

Blind date

Courtship

Partnership

  • Agreement

  • Contract

  • Scope

    • What’s in

    • What’s out

  • Execution

  • Ongoing symbiotic relationship

  • Cold call

  • RFP

  • Network

  • Sole source

  • Expertise

  • Capabilities

  • Partnership potential

  • Goals & vision

  • Expectations

  • References


Strategies to strengthen vendor partner relations

Strategies to Strengthen Vendor/Partner Relations

  • Share information and priorities

  • Balance commitment and competition

  • Allow key vendors/partners to help you strategize

  • Build partnerships for the long term

  • Seek to understand their business also

  • Negotiate to a Win-Win agreement

  • Come together on value


Vendor partner management

Vendor/Partner Management

  • Determine who owns the relationship

  • Manage the number of vendors/partners

  • Track contracts and agreements

    • File executed copies

    • Track expiry and renewal dates, costs, services

  • Meet regularly to discuss performance, new initiatives

  • Be realistic and honest about expectations

  • Pay invoices in a timely fashion


The demo

The Demo

  • V. Mary Abraham’s KM Blog Above and Beyond KM, “Make it Count in 2012”

    • Only work on initiatives that are “force multipliers”

  • Among activities that eat up time and resources, but are low-impact with little chance of achieving force multiplication within a firm:

    Vendor demos


Cold calls

Cold calls

Types of Cold Calls

  • Partners looking to meet and provide a service

  • Professional cold callers working from a list trying to arrange a meeting for sales

    Tips

  • Keep mobile phone numbers for your use

  • Screen calls, don’t answer names and numbers you don’t recognize

  • Use Do Not Disturb when busy

    OR


Cold calls1

Cold calls

V: Good day

P: Who is this?

V: I am so and so from xyz company

P: What is this regarding

V: We offer this service that will save you time and money

P: Not interested, thank you! OR

Listen to pitch for 10 seconds THEN

not interested. thank you

interested but not ready, call back in x months

interested but no time now, schedule time to speak (not meet) in more detail

Close the loop otherwise they just call back!


Questions

Questions?

Perry Brock

Ventura Consulting Inc.

905.597.3609 office

416.315.7602 mobile

[email protected]

Linkedin: http://www.linkedin.com/in/perrybrock

Joshua Fireman

Fireman & Company

888.701.4808

[email protected]

www.firemanco.com

LinkedIn: http://www.linkedin.com/pub/joshua-fireman/0/158/b46

Kathleen Hogan

Senior Counsel & Director of Knowledge Management, BMO Financial

[email protected]

LinkedIn:  http://ca.linkedin.com/in/jkathleenhogan


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