Vendor Management Programs
Revolutionizing Vendor Management: Enhancing Control and Minimizing Risk
Is your organization truly in control of its vendors, or are you at the mercy of vendor mismanagement? Ineffective vendor management practices can lead to disastrous consequences for organizations, resulting in disrupted operations and compromised services. It's time to take charge and ensure that your Vendor Management Program is robust, centralized, and efficient.
During this engaging seminar on Vendor Management, we will address the common pitfalls and challenges faced by organizations with decentralized and disjointed processes. Whether your Vendor Management Program is in its infancy or already established, this event will provide valuable insights into designing, implementing, and optimizing your supply chain.
Don't fall into the trap of shifting blame onto vendors. While you may outsource products and services, you cannot outsource the responsibility and associated risks that come with vendor management. It is crucial to take ownership and establish effective control mechanisms.
Join us to discover practical strategies for streamlining your Vendor Management Program, enhancing process efficiency, and minimizing risk. Learn from real-life examples and client experiences, including cautionary tales that highlight the consequences of inadequate vendor management.
Don't wait for your Board to ask about your vendors. Proactively engage in this seminar to gain the knowledge and tools necessary to ensure a comprehensive and proactive approach to vendor management. By attending, you will earn 2 CPE Hours (YB), demonstrating your commitment to professional development and improved risk management.
Take the first step towards revolutionizing your vendor management practices. Register now and receive a certificate of completion, recognizing your active participation in this informative and transformative seminar. Let's empower your organization to effectively navigate the complexities of vendor management and safeguard your operations and reputation.
Details on Event Presentation
Presented twice a quarter on Thursdays 10:00 a.m. to 12:00 noon Central Time in a two hour CPE event.
We can schedule private events on your timetable for two or more attendees.
CPE Event Highlights
This seminar reviews and answers the following questions:
- What constitutes a “vendor” and how can we generate a comprehensive list of vendors?
- How can organizations solicit vendors?
- What processes and controls should organizations conduct throughout the Vendor Lifecycle?
- How can organizations assess vendor risk and conduct vendor audits?
Learning Objectives
Attendees will:
- Learn the phases of the vendor management lifecycle process
- Recognize how to define “vendors”
- Understand the placement of responsibility for vendor management
- Learn the three common bidding processes
- Discover methods to list your vendors
- Identify components of a Vendor Management Policy
- Learn how to conduct a Vendor Risk Assessment
- Recognize the methods for performing Vendor audits
Key Issues on the Agenda
- Understanding You Vendor Lifecycle
- Defining Your Vendors
- Assignment of the Vendor Management Responsibility
- Listing Your Vendors
- Vendor Management Policy Creation and Maintenance
- The RFI, RFQ, and RFP Processes
- Vendor “Due Diligence” Vetting
- Vendor Risk Scoring and Assessment
- Risk-Based Continuous Auditing and Monitoring
Summary of the Subject Matter
Corporate Compliance Seminars (CCS) has recently completed an analysis of the 2020 PCAOB inspection reports covering the "Big 12" audit firms released in 2021.
The "Vendor Management Programs" CPE training event offered by CCS is a comprehensive course aimed at providing attendees with a deep understanding of vendor relationship management and Third-Party risk.
The event covers Procurement to Payment (PtoP) processes, internal controls, and industry standards. SOC 1 and SOC 2 audit reports are also discussed and the criteria provided by the AICPA’s SSAE 18 are covered. This program will enable attendees to develop the skills necessary to effectively manage vendor relationships and ensure regulatory compliance. This will be achieved through effective vendor selection, due diligence, contract negotiation, and ongoing monitoring.
Delivered by experienced industry experts, this training program is available online and is eligible for Continuing Professional Education (CPE) credits. Whether you are a professional in the finance, banking, or compliance industries, this event is designed to provide you with the knowledge and skills to stay ahead in the field of vendor management programs.