Certified Vendor Management Professional

Course details

Vendor management involves various vendor related activities as researching and sourcing vendors, obtaining quotes with pricing, capabilities, turnaround times, and quality of work, negotiating contracts, managing relationships, assigning jobs, evaluating performance, and ensuring payments are made.

Why should one take Vendor Management Certification?
This course is intended for professionals and graduates wanting to excel in their chosen areas. It is also well suited for those who are already working and would like to take certification for further career progression.

Earning Vskills Vendor Management Professional Certification can help candidate differentiate in today's competitive job market, broaden their employment opportunities by displaying their advanced skills, and result in higher earning potential.

Who will benefit from taking Vendor Management Certification?
Job seekers looking to find employment in purchase or vendor management or procurement departments of various companies, students generally wanting to improve their skill set and make their CV stronger and existing employees looking for a better role can prove their employers the value of their skills through this ;
 
Benefits of Certification

• Government certification
• Certification valid for life
• Lifelong e-learning access
• Learning Hours: 12+ hrs

 
How It Works

1. Select Certification & Register
2. Receive Online e-Learning Access (LMS)
3. Take exam online anywhere, anytime
4. Get certified & Increase Employability

Test Details

• Duration: 60 minutes
• No. of questions: 50
• Maximum marks: 50, Passing marks: 25 (50%).
• There is NO negative marking in this module.
• Online exam.

 
TABLE OF CONTENT

Strategic Management

• What is Strategy
• Organizational Strategy
• Strategy Development
• Strategic Management Process
• Strategic Sourcing
• Strategic Management Tools
• Strategic Role of Purchasing
• Procurement Portfolio Management
• Kraljic Portfolio Purchasing Model

Sourcing Strategy

• Sourcing Strategy Basics and Types
• Low-cost Country Sourcing
• Global Sourcing
• Offshore Outsourcing
• Outsourcing
• Sourcing Advisory

Purchase Management

• Objectives of Purchasing
• Functions and responsibilities of Purchase Department
• Methods of Purchasing
• Purchase Organization Structure
• JIT Purchasing
• Agile Purchasing
• Sustainable Purchasing
• Green Purchasing

Vendor Evaluation

• Supplier Strategy
• System of Vendor evaluation
• Parameters for evaluation of Vendors Performance
• Social Audit
• Total Evaluation
• Guidelines for Purchases through Tender and Negotiations
• Purchase Review
• Analytical Tools

Contract Management

• Contract Definition
• Contract Elements
• Indian Contract Act
• Contract Management
• Contract Lifecycle Management
• Automating Contract Management
• Change Management
• Contract Compliance
• Procurement and Contract Management
• Purchase & Tender procedure
• Commercial Disputes
• Alternative Dispute Resolution Technique

Vendor Negotiation

• Definition of Negotiation
• Preparing for the Negotiation Process
• The Seven Basic Steps in Negotiation
• Negotiation Styles
• Strategies for Negotiation
• Best Alternative to a Negotiated Agreement (BATNA)
• Approaches for Negotiation
• Types of Negotiators
• Tactics for Negotiation Process
• Non-Verbal Communication
• Emotions in the Negotiation Process

Vendor Selection and Review

• Searching for suppliers
• The Supplier Selection Process
• Retaining and Developing the Supplier Relationship
• Agreements and policies for protecting the company’s interests
• Vendor Risk Assessment

Ethics in Procurement

• What is Ethics?
• Ethics and Procurement
• Why Ethical
• Ethical Concepts and Principles in Procurement
• Unethical Practices Signs
• Unethical Practices Prevention Tools
• Ethical Procurement Requirements

Future Developments

• Procurement Future Trends
• Sustainable Procurement
• Procurement Automation
• Big Data and Procurement

Updated on 22 December, 2023