Most organizations gain some value from their vendor relationships but fail to harvest the optimal value and business outcomes available. In this session, we will review three elements critical to drive an effective strategy for your vendor management program. These elements will help you identify which relationships are generating maximum value and functioning as a true partnership as well as which you should reexamine or improve.
Insights from two case studies will be shared to clearly illustrate the effectiveness of the approach and help highlight what you should change about your vendor management approach and strategies to yield the best value.
In this session, you will learn how to:
- Assess your vendors across all three elements
- Evaluate the effectiveness of your vendor strategy
- Build a plan to align key strategies with your vendors
- Encourage aligned innovation to drive business outcomes