Comments on: Definition of Vendor Management http://360vendormanagement.com/2007/11/28/definition-of-vendor-management/ Best Practices in Outsourcing, Vendor Management, ROI, and Improved Performance Tue, 06 Jan 2009 07:43:28 +0000 http://wordpress.org/?v=2.7 hourly 1 By: tony http://360vendormanagement.com/2007/11/28/definition-of-vendor-management/comment-page-1/#comment-54 tony Thu, 17 Jan 2008 06:48:06 +0000 http://360vendormanagement.com/2007/11/28/definition-of-vendor-management/#comment-54 I think Stephen definitely hits on a key area of competency within a vendor management team. However, I'd avoid narrowing-down a VMO to a strategic sourcing organization. The ins and outs of managing the operations of a call center, back office, and transaction management team typically go beyond the skills and experience of a strategic sourcing professional. With that said, there is no doubt that a highly experienced strategic sourcing team and strong negotiators can add significant value to a VMO, but they may be best left within their respective IT procurement or enterprise strategic sourcing teams where their talents can be assets to the entire company - including vendor managers. I think Stephen definitely hits on a key area of competency within a vendor management team. However, I’d avoid narrowing-down a VMO to a strategic sourcing organization. The ins and outs of managing the operations of a call center, back office, and transaction management team typically go beyond the skills and experience of a strategic sourcing professional. With that said, there is no doubt that a highly experienced strategic sourcing team and strong negotiators can add significant value to a VMO, but they may be best left within their respective IT procurement or enterprise strategic sourcing teams where their talents can be assets to the entire company - including vendor managers.

]]> By: Stephen Guth http://360vendormanagement.com/2007/11/28/definition-of-vendor-management/comment-page-1/#comment-52 Stephen Guth Tue, 15 Jan 2008 11:12:32 +0000 http://360vendormanagement.com/2007/11/28/definition-of-vendor-management/#comment-52 The definition of "vendor management" can be taken a step further with the following description of the organizational structure, the "Vendor Management Office," that is responsible for the vendor management function: A Vendor Management Office is a strategically-focused purchasing organization comprised of highly-skilled business advisors who are entrusted with strategic sourcing and management of vendor relationships such that investments in key commodities are maximized to the fullest extent and risk to the business minimized. Stephen R. Guth, Esq. www.vendormanagementoffice.com The definition of “vendor management” can be taken a step further with the following description of the organizational structure, the “Vendor Management Office,” that is responsible for the vendor management function:

A Vendor Management Office is a strategically-focused purchasing organization comprised of highly-skilled business advisors who are entrusted with strategic sourcing and management of vendor relationships such that investments in key commodities are maximized to the fullest extent and risk to the business minimized.

Stephen R. Guth, Esq.
http://www.vendormanagementoffice.com

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