Supplier Management Process

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3 hours 16 minutes
Video Transcription
Alright, My learners, we are less than 5.4. Supplier management process.
Okay. Are you ready? I'm sure you're ready. Let's go.
All right. So they're learning objectives. In this video, we will cover the process and objectives of supplier management as well as the scope of how supplier management is incorporated inside the business. Okay.
Alright. So supplier management process. Right. So the purpose is to obtain value for money from suppliers. To ensure all contracts, suppliers support the business needs and requirements. So this process will ensure that suppliers meet their contract girl
commitments as well as provide that seamless quality of I t services that the business is required to have. Okay, there's the overall purpose of the supplier management process.
So when we go into the objectives of
the supplier management process now you take a look. So it's more of negotiate and manage contracts within suppliers through the life through their life cycles.
You manage relationships with the suppliers, you manage supplier performance. Uh, you ensure that the value of the money is obtained from the suppliers and the contracts as well as maintain the supplier policy in supporting supplier and contract management information system
for tracking purposes. So that s C M. I s
Okay. Now we ensure in those, um,
you have to ensure that those objectives are being made within the supplier management for everything that value could be or it should be, as that business requires. So the scope of things, fire management,
the process is more so responsible for managing all suppliers needed to support that provision of I t services to that business. Right?
So the SM process will likely have to be have to comply with the enterprise or the corporate supplier management standards and policies. I know some of you guys may have heard it already before, but it's intricate that we understand that there is standards and policies that incorporate those supplier managements.
So suppliers should be able to manage through a formal process that is flexible enough to effectively
cover suppliers of varying degrees of appointments to that service provider. So, generally speaking, the greater the contribution of the supplier, it makes the business value. So the two so the more effort of the service providers should invest in is managing that supplier, so understanding that
there should be a single owner
that's established for each supplier relationship just to keep that continuity in that flow of relationship going throughout that process. So although the individual may be the owner, uh, or the relationship of more than one supplier for that service provider, but
allowing that constant and that trust value thio help implement within that process is very critical in that business.
So I tell this the following activities as the scope of the of the SM and its management of all the supplier contracts. It's the adaptive based on the importance of that supplier, you know, you have the supplier and the contract evaluations, the development and the negotiation,
an agreement of those contracts.
So these are all falls into the scope of it, and then also the U management of the disputes and the management of the subcontracted suppliers. Now and also, you sit there and you manage the standard contracts, terms and conditions and identifying the improvement
of opportunities of inclusions
that's within the CSE register. Okay,
so when we start going into those particular scopes, that's the end of the supplier management. So in summary, less than 5.4 supplier management process we gave you a overview of the purpose of the supplier management process as well as the scope and objectives of the supplier management process.
All right,
so we will be followed on by your quiz, your lesson quiz, and then we go on to the next lesson. All right, so you then.
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