The Vendor Management Office: Unleashing the Power of Strategic Sourcing
Negotiating the lowest possible price is no longer enough. Internal customers now demand more-they need business advice, guidance, and expertise to manage their sourcing requirements. They need an organization that focuses less on price and more on the value that vendors can provide. The organizational key to unleash the potential of strategic sourcing is the Vendor Management Office or "VMO." It is an over-arching organizational concept of strategically managing procurements and vendors.Resulting from over 10 years of real-life experience implementing VMOs, this book introduces the concept of a VMO and the philosophy that cost is not always a factor. The book is intended to be much more than conceptual. Concrete and practical tools considered necessary to launch a newly formed VMO are explored in detail. Appendices contain materials that can be easily adapted for use by any VMO. If you are interested in implementing a VMO or you are interested in vendor management as a career--this book is for you.
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Table of Contents
Functions of a VMO
Positioning a VMO
VMO Resources and Tools
Competitive Bidding Materials
Contract Management System
ability achieve Aflac Agreement Backup and Recovery balanced scorecard business relationship candidate candidate’s certification commodity company’s competitive bidding cost savings Customer Relationship Management customer satisfaction customer service customers and vendors DBMS delivery Describe Documentation ensure escalation evaluation committee evaluation criteria example executive finalist vendor hiring manager implementation improvement leverage Marketplace Research measure metrics needs negotiation non-selection Norex operating systems Operation organizational parties position procurement products or services professional certification redlines references request Respondent's RFx Requirements rules of engagement sales representative Scalability Security service level agreements service levels Sourcing Consultant spend strategic sourcing strategic vendors support and maintenance Technical Functionality terms and conditions traditional purchasing department transactional purchasing Value Initiatives vendor and customer vendor consolidation vendor management vendor performance Vendor Qualifications vendor relationship vendor relationship management vendor responses vendor selection VMO concept VMO staff member VRMS