It is just as important to communicate with your suppliers and vendors as it is to communicate with your customers. Establishing the proper communication channels and information flows between you and your suppliers can lead to increased efficiencies, reduced costs and better customer service.
Regardless of what business you're in, vendors play a key role in the success of your business. Using the following vendor management best practices to build a mutually strong relationship with your vendors will strengthen your company's overall performance in the marketplace.
Managing vendor or supplier relationships is an important, yet demanding task, which calls for more than just appointing an official representative to deal with matters related to it.
Factors such as a shortage of resources and an increase in the number of vendors of all sizes have prompted companies to rethink the skills and experience required to manage vendor contracts on a daily basis. Thus, several companies across the globe are looking at outsourcing as the solution.
The vendor management service offered by Timescan Logistics is comprehensive service, entrusted to a team of experts in the area of vendor management. We supply you with the details regarding the vendors you are doing business with, and how your relationship with them can be improved. Further to that, we help in finding the best vendors for your company.
Our Vendor Management Services include
- Customizing and deploying vendor management forms, procedures and reports
- Prepare vendors respective SLA
- Liaison with vendors, OEMS, service providers for related work, equipments and services associated with the FM project
- Deploying and maintaining critical part inventory of vendors
- Measure severity parameters of SLA and perform complain escalations respectively
- Maintain database of various vendors with details
- Logging and escalating complains with vendors and tracking till resolution
- Analysis, rating performance of vendors’ vis-à-vis their SLA
- Assurance and achieving committed uptime from vendors
- Penalty and rewards commercial implications for the vendors
- Reports, Analytical, Graphical, MIS