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Strategic vendor management

Manage technology vendors for optimal value and reduced risk

Develop comprehensive vendor management strategies that optimize costs, ensure quality, manage risks, and build strategic partnerships.

85 minutes
analysis

Overview

Develop comprehensive vendor management strategies that optimize costs, ensure quality, manage risks, and build strategic partnerships.

Learning objectives

  • Evaluate vendor landscape
  • Negotiate contracts effectively
  • Manage vendor performance
  • Build strategic relationships

Instructions

Manage vendors strategically:

1. Assess vendor portfolio 2. Evaluate performance and value 3. Negotiate improvements 4. Build governance model 5. Develop partnerships

Steps

1

Portfolio assessment

25 minutes

Review all vendor relationships

2

Performance evaluation

20 minutes

Measure vendor value

3

Contract negotiation

20 minutes

Optimize agreements

4

Governance design

15 minutes

Create management framework

5

Partnership development

5 minutes

Build strategic relationships

Pro tips

  • Focus on total value not just cost
  • Build win-win relationships
  • Regular performance reviews
  • Have backup options

Example outcome

Vendor management program reducing costs by 25%, improving SLAs by 40%, and creating 3 strategic technology partnerships.

Explore more resources

Check out the full stdlib collection for more frameworks, templates, and guides to accelerate your technical leadership journey.