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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.
I had a good experience with this Microsoft Excel training course! Mark the trainer was exceptionally knowledgeable, patient, and engaging, taking the time to explain complex functions and formulas in a way that was easy to understand. The pace of the class was well-managed, and there was plenty of opportunity to ask questions without feeling rushed. I left the session feeling much more confident, efficient, and equipped with time-saving shortcuts. Highly recommended for anyone looking to upgrade their spreadsheet skills!
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.
The trainer really tailored the course to our needs, encouraged us to ask questions, and was knowledgeable and really helpful.
The trainer was very patient and did not mind having to explain things a few times to make sure we were all on the same page, was very helpful for someone like myself who sometimes misses details on the first go around
Excellent trainer, the format of the training was fantastic and I got a lot from the course.
This was, by far, one of the best training courses I have had the pleasure of attending. The trainer was extremely knowledgeable and delivered a great course!
This was the first time I have joined an excel course and I found it very informative and very helpful.
I liked how the trainer tailored the training around what our needs and roles are.
A great pace for somebody just starting and never an issue with questions, and always had a good way of answering.
From knowing nothing to what I know now and in less than a day I would highly recommend as it was extremely useful, and has made my understanding of MP a 100x better. Thank you the trainer for the great lesson!
Excellent course, definitely the best 'power' course I have attended. The trainer was enthusiastic about the material and kept it relevant to our needs
The trainer was really knowledgeable and extremely helpful in helping us to build our own reports.
It was very productive as a working session. I learnt a lot.
His careful delivery of the course really made the difference not only in its usefulness but in how well we, as learners, will retain and apply this new information.
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.
