Procurement and Inventories

Vendor Management and Contract Compliance

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Vendor Management and Contract Compliance Course

Introduction:

In the current business landscape, a significant portion of organizations' revenues or operating budgets is allocated to contractors and suppliers for the procurement of goods, equipment, and services. Consequently, there is growing recognition of the critical importance of effectively evaluating, selecting, and managing vendors, as well as ensuring compliance with all contract provisions. These processes demand a high level of competence to ensure successful outcomes.

Course Objectives:

Participants attending the program will:

Benefit from hearing the practices and experiences of others
Learn your fiduciary duties - making sure you are on the owner’s side
Discuss best practices of supplier qualification and control
Review aspects of developing the critical statement of work
Learn about performance-based service contracts & service level agreements (SLA)
Explore contract risks and ways to gain protection
Explore how to use evaluation results or past performance in contractor selection
Be provided sources of contract checklist
Be presented with how to win in negotiations that occur in contract management
Gain knowledge in how to bring about compliance and what do when contracts fail to perform

Who Should Attend?

Contracts, Procurement, Purchasing, and Project personnel
Engineering, Operational, Quality, and Maintenance personnel and all others who are involved in interfacing with contractors or suppliers in the acquisition of materials, equipment, parts, and services or anyone who wants to

Course Outlines:

Establishing the Foundation for Successful Outcomes

Your Fiduciary Duties As A Contract Officer
Standards Of Professional Ethics In Contracting
Elements Of A Good Procurement & Competitive Bidding Process
Supplier Qualification
Supplier Performance Measurement Methods
Value Model Of Total Cost Of Ownership

Preparations for Drafting the Contract

Types Of Statement Of Work,
Conducting Risk Assessment
Objectives Of The Contract
Important Elements Of The Contract
Basic Contract Types To Distribute Risk
Performance-Based Service Contracts & Service Level Agreements
Economic Price Adjustment Contracts

Developing Contract Terms & Conditions

Determining The Contract Clauses
Sources Of Contract Check Lists
Inspection, Acceptance, Rejection
Liquidated Damages
Force Majeure/Delays
Spare Parts
Warranties

Negotiations in Vendor Management & Contract Compliance

Basic Negotiation Concepts
Negotiation Pressure Points
Negotiating With Untrustworthy Counterpart
Determining The Issues
Negotiations Objective Diagram
Determining Strengths And Weaknesses
What Is Your Batna (Best Alternative To Negotiated Agreement)
Important Points In Win/Win Negotiations

The Compliance & Control Phase

Objectives Of Contract Management
Key Players In Contract Compliance
Post-Award Conference
Contract Monitoring Techniques
How To Deal With Contract Changes
When Contractors Fail To Do What Was Promised

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