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One of the most important, yet frequently, overlooked aspect of a third-party sourcing relationship is Vendor Management. Vendor Management is the process for managing working relationships with service providers to ensure objectives are met. The objectives of Vendor Management are to ensure that on-going sourcing decisions support the business strategy, and to ensure that anticipated benefits of all significant third-party relationships are realized in the most efficient manner.
Read a W Group White Paper on
"Relationship Management in Outsourcing".
The W Group’s Vendor Management offering involves the development of an IT strategic sourcing structure that employs an interactive, dynamic, collaborative relationship with key client stakeholder functions within an organization and with key vendors providing products and services to a client organization. This service works to ensure that strategic sourcing decisions will support and enhance corporate decisions and objectives. Establishment of this organizational structure is key to managing long term, strategic vendor relationships that benefit the client organization.
The W Group’s role in developing a Vendor Management Organization (VMO) will include one or more of the following based on the sophistication of IT strategic sourcing that exists within the client organization:
- Guiding the development and implementation of the VMO including definition of scope, operating processes, staffing, communications and reporting
- Analyzing the performance of an existing IT strategic sourcing organization, developing the prescription for improvement (remediation) and managing the improvement process
- Performing the function of the VMO for existing relationships until the internal staff is identified or hired.
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