Vendor Management

The basic concept of Vendor Management would be to “Manage your vendors or they’ll wind up managing you!” multi vendor marketplace software

Summary — A bold change of initiatives and an efficient utilization of database are the secrets of successful Vendor Management. This provides an entire view of vendor activity and gratifaction that’s crucial to have an efficient and cost-effective project. It helps in delivering an adaptable, cohesive platform for enabling, engaging, and evaluating your suppliers. Even though there are no permanent solution/fixes for enhancing performance, it’s possible to take specific steps to maximise effectiveness.

Often, we draw upon our experience to deal with basic problems in vendor management. This white paper lists these basic problems which an organization might face whether it outsources work to vendors. Once this paper is thru, you are able to make a comprehensive checklist that may help you to get the best out of your vendors. multi vendor ecommerce

Vendor selection

The important thing would be to discover which vendors should be ‘managed,’ and which of them don’t need ‘management.’ This might seem like an absurdity, but there is some truth to it. For example, companies might monitor purveyors of office supplies for best prices and basic service requirements, but a deeper relationship is essential for strategic vendors who will deliver eLearning modules or content, on time and at the best cost. multi vendor ecommerce platform

A crucial step would be to choose the best vendor. Begin with shortlisting vendors who have done similar projects and have a good history. multi vendor ecommerce open source

Finding talented and efficient vendors at reasonable prices can be tough.

The implementation process begins long before the vendor is chosen. The specifications should include the optimum rollout approach, with key dates and implementation success criteria. The entire process, from specification development to implementation, must be handled along formal project management lines. From the outset, there must be a task Board that will undertake to complete vendor evaluation. This Project Board should also have overall responsibility for the implementation of the project, otherwise all of the knowledge gained-and decisions made-during the vendor selection could well be lost. multi vendor marketplace script

The work Board should contain perhaps no more than five managers who have probably the most to gain and, therefore, will take an enthusiastic curiosity about the project. Almost certainly, there must be representation from Personnel/Human Resources.

Once you have found several technology-based vendors that appeal to you, gather as much basic information about them as you can. Visit their Web site, communicate with them and review the work they do. multi vendor ecommerce script

Once an initial short list of perhaps four to six vendors has been developed, the first task would be to compare the various approaches from these vendors and finalizing on the most effective option. An important criteria is the budget and also the confidence the vendor has in meeting implementation dates. What you need to be looking for may be the way the seller communicates an awareness of the requirements and just how these requirements is going to be met, along with the manner in which the seller team members cope with questions from the Board. One of the selection criteria can be-do you feel comfortable with the vendor team?

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