Vendor Management Essentials


Most companies buy from vendors, and to ensure maximum value to a business, it’s important to know how to manage them. Vendors can also affect the performance of the business buying from them. Having an effective vendor management process is essential in today’s business.

Vendor Management Essentials course will outline a vendor management process, including a vendor policy document, developing key performance indicators, assessing potential vendor risk, describing components of a vendor contract, and monitoring the performance and relationship of vendors using questionnaires, forms, and auditing.

  • Visa Card
  • MasterCard
  • American Express
  • Discover Card
  • PayPal


Course outline

Session One: Course Overview

Session Two: Vendor Management

Session Three: Benefits and Challenges of Vendor Management

Session Four: Types of Vendors

Session Five: Vendor Management — First Steps

Session Six: Vendor Life Cycle Management

Session Seven: Assessment and Selection of Vendors

Session Eight: Developing Contracts and Finalizing Vendors

Session Nine: Monitoring Performance and Vendor Relationships

Personal Action Plan

Recommended Reading List

Post-Course Assessment