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- Vendor Management Essentials
Vendor Management Training Course: Policy, KPIs, Contracts and Risk
Vendor Management Essentials
Gain control over your vendor relationships with a structured approach to selection, contracts, and performance monitoring. Learn how to mitigate risks, set KPIs, and maximise value from your suppliers.
- 1 day
- Virtual or on-site
- Private team training
Trusted by teams at
Course overview
Most businesses rely on vendors, and managing them effectively can have a huge impact on business success. Without a structured vendor management process, companies risk inefficiencies, compliance issues, and financial losses.
This one-day course provides a practical, step-by-step approach to vendor management, covering everything from creating a vendor policy to setting performance indicators, assessing vendor risk, developing contracts, and monitoring performance.
By the end of the course, you’ll have the tools and confidence to streamline vendor management, strengthen relationships, and mitigate risk in your organisation.
What you will learn
By the end of this course, you’ll be able to:
- Understand vendor management - Define vendors, vendor types, and key management principles
- Evaluate vendor benefits and risks - Identify challenges and implement solutions
- Set clear vendor performance goals - Use SMART goals and key performance indicators (KPIs)
- Develop an effective vendor management policy - Outline key elements for compliance and efficiency
- Manage the vendor lifecycle - Assess and select vendors using structured frameworks
- Identify and mitigate vendor risks - Use risk assessments and rating systems
- Negotiate and finalise vendor contracts - Understand key contract components
- Monitor vendor performance - Conduct audits, evaluations, and compliance checks
Who is this course for?
This course is ideal for:
- Procurement and supply chain professionals
- Finance, compliance, and risk managers
- Business owners and decision-makers
- Project managers
All with our 100% Money-Back Guarantee and Unlimited Email Support.
Who it's for
- Procurement and supply chain professionals
- Operations and finance managers
- Project and vendor relationship leads
What you need before you start
- Basic understanding of procurement or operations
- Access to current vendor or supplier information
What you'll learn
What you will be able to do by the end of the course.
- Draft a vendor management policy aligned to organisational goals
- Set SMART KPIs that measure and drive supplier performance
- Assess vendor risks using structured frameworks and scoring
- Run fair, evidence-based vendor evaluations and selections
- Negotiate contract terms covering service, risk and compliance
- Monitor supplier performance with audits, reviews and dashboards
- Escalate non-compliance and implement corrective actions promptly
Course outline
8 modules across 1 day.
1Vendor Management3 topics+
- Definitions
- Vendor Interaction Phases
- What is Vendor Management?
2Benefits and Challenges of Vendor Management2 topics+
- Benefits of Vendor Management
- Challenges of Vendor Management
3Types of Vendors3 topics+
- Vendor Type
- Vendor Relationship Management
- Vendor Relationships
4Vendor Management — First Steps5 topics+
- Vendor Management Policy Document
- Business Goal Setting
- SMART Goals
- Business Goals Related to Vendors
- Vendor Management — Key Performance Indicators
5Vendor Life Cycle Management2 topics+
- Vendor Life Cycle Management
- Vendor Life Cycles
6Assessment and Selection of Vendors5 topics+
- Vendor Risk Management Framework
- Assessment and Selection of Vendors
- Risk Assessment
- Scaling Your Vendor Assessments
- What to Do With All This Information
7Developing Contracts and Finalizing Vendors2 topics+
- Contract Negotiation
- The Contract
8Monitoring Performance and Vendor Relationships12 topics+
- Monitoring the Vendor
- Vendor Evaluation Audits
- Basics of an Audit
- Questioning Exercise
- Developing an Audit Checklist
- Audit Checklist Exercise
- Conducting the Audit
- Audit Role Play
- Noncompliance and Corrective Action
- Recording Non-Compliance Exercise
- Taking Corrective Action
- Personal Action Plan
Get a quote
Run Vendor Management Essentials for your team
Delivered for your organisation alone, on a date you choose, online or at your offices.
Or call 0333 305 8855
What happens next
- 1We reply with available dates and a price for your team
- 2You pick a date that suits your team — we work around you
- 3We tailor the examples and exercises to the work your team does
- 4We confirm the delivery details and next steps in writing
Booked with a 100% money-back guarantee
Every course we run is covered. Book with confidence — if it isn’t right, you aren’t left out of pocket.
Why Future Savvy
Practical training, backed properly
Rated 4.72/5
From 696 reviews by learners and clients.
Money-back guarantee
A 100% money-back guarantee, for peace of mind.
Up to six learners
Small enough that every delegate gets trainer time on their own work.
Trainers who do the job
Practitioners who use these tools on real work, not career instructors.
Support after the course
Email your trainer when you hit something back at your desk.
What delegates say
Independently verified reviews, alongside quotes collected from delegates after their course.
good value for money, I understood notions that were very not clear to me. Thanks to Mark.
Very good communication and an excellent tutor.
Very happy with Mark's training ethos and training he provided.
Excellent course and really well presented. Starting from basic knowledge the course guided you through step by step and was well paced for all.
Really enjoyed the course. Tutor was knowledgeable, friendly and gave real-world, practical advice to get the most out of the training.
Absolutely Fab!! Kept us engaged, patient & informative
The trainer was really friendly and positive, really clear, and made sure everyone was on the same page, and spent individual time focusing on each person to make sure they understood and were up to speed with the training.
Overall the course was excellent. The trainer delivered well, he was knowledgeable and concise.
Overall - Brilliant though, genuinely, the trainer was informative, talked at a steady pace
Verified reviews are published on our Reviews.io profile, where anyone can read every one of them.
Frequently asked questions
Who should attend this course?+
Procurement, operations, finance, risk and project leads who work with suppliers or oversee vendor performance.
Do I need procurement experience to join?+
No. The course is suitable for newcomers and those seeking a more structured approach to vendor management.
How is the training delivered?+
We deliver live online or on-site. Private cohorts can be scheduled to suit your team and location.
Will I receive templates and checklists?+
Yes. You will take away practical templates for policies, KPIs, risk assessments, vendor evaluations and audit checklists.
Can the course be tailored to our organisation?+
Absolutely. We can customise scenarios, examples and tools to reflect your sector, policies and supplier landscape.
