Maximizing Vendor Relationships (OnDemand Webinar)

$149.00

SKU: 411555EAU

Description

Create successful and more resilient vendor relationships through contracting best practices and due diligence strategies.While there are many aspects to maximizing vendor relationships, one of the most important goals is to ensure the overall contracting process with the vendor ensures sufficient customer flexibility and protection. You will learn realworld techniques for improving the contracting process to achieve that goal. You will be able to immediately implement these techniques to gain better flexibility and protections in your own vendor engagements. The techniques to be shared are based on the presenter’s experience in literally hundreds of technology contracting negotiations with vendors of every size and type.

Date: 2024-08-27 Start Time: End Time:

Learning Objectives

Vendor vs. Buyer Relationships/Dynamics

Importance of Master Agreements

Overview of Contracting Process
• Preliminary: RFP/RFQ/RFIs/Seeking Bids
• Setting Expectations Early
• Form Agreements
• Due Diligence Activities
• Contract Negotiations
• Maintaining Leverage
• The Siren Song of Trial Agreements and LoIs
• Post Contract Follow-up and Policing

Alternate/Backup Suppliers

Vendor Due Diligence
• Typical Elements and Use of Questionnaires
• Updates

Security Risks in Vendor Relationships
• The Insider Threat
• Legal and Industry Standards
• Scaling of Security Measures

Key Contracting Provisions
• Expanding the Concept of Buyer
• Segregating Liability for Buyer Entities
• Operating a Service Bureau for Related Entities
• Use of Sweep Clauses
• Vendor Cooperation With Other Vendors and Suppliers
• Project Schedules and Defaults
• Controlling Subcontracting and Assignment
• Beware Changes of Hosting Providers
• Vendor Personnel/Key Personnel
• Project Management and Reporting
• Avoid Change Order Chaos
• Contract Renewal Rights and Price Protection
• Identify All Revenue Streams
• Scope of License or Use Rights
• Vendor Use of Customer Systems and Telecommunications
• Vendor Use of Offshore Personnel
• Disaster Recover/Business Continuity
• Financial Wherewithal
• Withhold Remedies and SLAs
• Termination Rights
• Audit Rights
• Fees
• Self-Audits, Security Audits, Performance Audits, Compliance Audits

CLE (Please check the Detailed Credit Information page for states that have already been approved) ,ISM ,Additional credit may be available upon request. Contact Lorman at 866-352-9540 for further information.

Michael R. Overly, Esq.-Foley & Lardner LLP

Maximizing Vendor Relationships (OnDemand Webinar)

$0.00

SKU: 408816EAU

Description

Create successful and more resilient vendor relationships through best practices and due diligence strategies.The vendor relationship is key to your business. Establishing the way you will work with that vendor, agreed upon policies, principles, and statistics, will drive the success of that relationship now and well into the future, and the more vendors you can do that with, the more you guarantee the longevity of your business. This material will review the things that the industry’s best buyers do to manage the vendor relationship.

Date: 2021-03-30 Start Time: End Time:

Learning Objectives

Setting the Right Mindset
• Proper Introduction of You and Your Business
• Do Not Let Anyone Think of You as Small
• How to Properly Tell Your Story
• How to Get Things Properly Positioned for Growth

Establish the Benefits of Working With You
• Attention to Presentation of Product
• Better Product Knowledge
• Financially Sound, I Pay My Bills
• Build This as an Opportunity for Both

How to Negotiate Price
• How Do You Mathematically Calculate the Right Price?
• How Do You Present That?
• Understanding What the Vendors See as Pricing, and How to Navigate That

Other Things to Ask for, Other Than Price
• Exclusivity
• Co-Marketing
• Sponsorship of Sales Contests
• Consignments
• Terms

After You’ve Been Shipped
• Setting the Proper Expectation
• Calculating Benchmarks and Determining If Its Working
• Discussions With Vendor After Initial Evaluation
• Set Next Evaluation Date

The Vendor Scorecard
• Your Best Negotiating Tool
• The Best Way to Determine What Did and Did Not Work
• Helps You Plan What You Will Do Going Forward
• Sets the Right Expectation With Every Vendor

Cash Margin
• A Better Stat Than Gross Margin or Sell Thru
• Best Determination of Whether the Vendor Is Helping Your Cash Flow or Not
• Most Systems Do Not Use This Stat, so Learn How to Calculate It

Cash Margin Shortage Negotiation Points
• Terms
• Discounts
• Returns to Vendor
• Marketing Dollars

Negotiating Tips
• Things You Can Do to Stay Comfortable While Negotiating
• Successful Scripts and Techniques

ISM ,Additional credit may be available upon request. Contact Lorman at 866-352-9540 for further information.

Dan Jablons-Retail Smart Guys