Managing Vendor Qualification Performance and Contract Compliance

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Managing Vendor Qualification Performance and Contract Compliance Course
Introduction:
Informed and well-documented decisions regarding purchasing components, raw materials, equipment, and services are vital for any business. Implementing a vendor qualification process is necessary to ensure the quality and compliance of products, safeguard company profits, and protect the company's reputation.
The significance of suppliers and vendors cannot be overstated in achieving business success. Establishing a formal system to monitor and assess supplier and vendor performance is crucial for seamless operations and sustained profitability.
Course Objectives:
At the end of this Managing Vendor Qualification, Performance & Contract Compliance Training Course, will enable delegates to:
- Structure for a sustainable vendor qualification program
- Checklists and other vendor qualification documents
- How to determine the best potential vendor
- What a potential vendor needs to supply before qualification
- How to estimate costs and time associated with vendor qualification
- Common pitfalls to avoid when qualifying vendors
- Develop meaningful performance measures
- Learn how to use those performance results for continuous improvement
Who Should Attend?
This Managing Vendor Qualification, Performance & Contract Compliance Training Course is designed for:
- Contracts, Procurement and Project personnel
- Engineering, Operational, Quality and Maintenance personnel
- Those who are involved in interfacing with contractors or suppliers in the acquisition of materials, equipment, parts and services
- Anyone who wants to improve supplier performance and gain successful outcomes from contracting situations
Course Outlines:
Vendor Qualification: Compiling an Approved Supplier List
- Determining the goals and objectives of Procurement
- Formulating a proper Procurement strategy
- Involving the end-user in determining the required technologies
- Developing an approved supplier list based on the required technologies
- Compiling supplier selection criteria
- Forming commodity teams to evaluate and provide supply solutions
Supplier Assessment
- Supplier initial questionnaire
- Detailed supplier investigation
- Quality management systems
- Performing a supplier assessment
- Process capability studies
- Certification of suppliers
- ISO Certification
- Setting acceptance criteria
- Engaging the supplier during the tender process
Supplier Performance - What to Measure?
- Carrot or stick?
- Setting of objectives that are aligned with the goals of the company
- Characteristics of a good performance measurement system
- Developing a supplier performance system
- Sources of data
- Common mistakes in data recording
- Implementing the system
Supplier Performance - Interpreting the Results
- Rating the individual supplier
- Ranking your suppliers
- Disseminating the results: what to do and what not to do
- Rewarding good behavior
- Supplier recognition
- Punishing bad behavior
Remedies for Breach of Contract
- What constitutes a breach?
- The different types of breaches
- The different remedies available
- Determining the quantum of damages
- Liquidated damages
- Equitable damages
- Court injunction
- Project close-out report
- Time
- Performance/Quality
- Cost