In this video, Ms. Pallavi Nagpal Jairath, Professor, of Bada Business, explains the role of vendor management in a business.

Key Outcomes:

• Use vendor management to speed up the vendor onboarding process
• Assess and minimize the risk of vendor management
• Make the long-term relationship with vendors to get better deals from vendor

In this video, Mr. Rajiv Bose, Professor, of Bada Business, explains how to select the right vendor for your business.

Key Outcomes:

• Define the scope of negotiation while selecting the vendor
• Follow the vendor selection process to choose the right vendor for your organization
• Check the background of the vendor for a long-term business relationship with him

In this video, Mr. Rajiv Bose, Professor, of Bada Business, explains the steps of vendor negotiation.

Key Outcomes:

• Start the negotiation with a rate that matches the vendor’s wholesale rate
• Use a firm and fair approach during negotiation with the vendor
• Negotiate with the vendor on payment terms if he doesn’t agree on price quote

In this video, Mr. Rajiv Bose, Professor, of Bada Business, explains the risk in vendor management.

Key Outcomes:

• Identify  the risk before entering into a contract with your vendor
• Check the background of the vendor before entering into an agreement with your vendor
• Make a risk management plan to minimize the vendor risk

In this video, Mr. Rajiv Bose, Professor, of Bada Business, explains how to procure goods from vendors.

Key Outcomes:

• Maintain integrity and transparency in the procurement process
• Follow ethics in procurement to maintain the public image and goodwill of your company
• Select vendors on appropriate and fair criteria basis for your company

In this video, Mr. Rajiv Bose, Professor, of Bada Business, explains how to choose vendor sourcing.

Key Outcomes:

• Use sourcing for selecting vendors for your company
• Use  offshore sourcing to get high-quality expert services at lower operating costs
• Use single sourcing to increase negotiation power with your vendor

In this video, Mr. Rajiv Bose, Professor, of Bada Business, explains how to avoid legal conflicts with the vendor.

Key Outcomes:

• Make a vendor contract to bind him with duties and obligations
• Mention all the important clauses in the vendor contract
• Adopt contract management to reduce financial risk and improve quality performance

In this video, Ms. Pallavi Nagpal Jairath, Professor, of Bada Business, summarises the course “Vendor Management.”

Key Outcomes:

• Convey your expectations clearly to the vendor in the beginning
• Do not negotiate too much with the vendor
• Make long-term healthy relationships with the vendor
• Identify the vendor risks periodically and assess their impact