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Lecture 13

A vendor management system is a web-based application that allows organizations to manage staffing services from vendors on a temporary, permanent or contract basis. It automates interactions between an organization and vendors for procuring contingent labor. The system allows clients to share resource requirements with multiple vendors who can then respond in a standardized format. Key benefits include consolidated billing, online time sheet approval, centralized staffing management and control over the entire process.

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Rehan Ullah
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28 views12 pages

Lecture 13

A vendor management system is a web-based application that allows organizations to manage staffing services from vendors on a temporary, permanent or contract basis. It automates interactions between an organization and vendors for procuring contingent labor. The system allows clients to share resource requirements with multiple vendors who can then respond in a standardized format. Key benefits include consolidated billing, online time sheet approval, centralized staffing management and control over the entire process.

Uploaded by

Rehan Ullah
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PPT, PDF, TXT or read online on Scribd
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Rehan Ullah

VENDOR MANAGEMENT SYSTEM


 A Vendor Management System is a web based
application that helps organizations to manage and
procure staffing services temporarily or permanently or
on contract basis.
VENDOR???
 A vendor is literally a person or organization that vends
or sells contingent(group) labor.

 Specifically a vendor can be an independent consultant,


a consulting company, or staffing company.
VENDOR MANAGEMENT SYSTEM

 A Vendor Management System automates interaction


between an organization and its vendors in the permanent,
contract and temporary staffing basis.

 Web-based VMS allows a client to immediately share


detailed resource requirement with multiple levels of
vendors, enabling vendors to respond in a timely,
standardized format.
HOW IT WORKS?
 A client puts out a request for a project to the vendor
management office.

 The participating vendors receive the request and have a


chance to respond with their rate particulars.

 The vendor with the highest score wins the project and
provides the client his services.
BENEFITS
 Consolidate billing.
 Review and approve time sheets online eliminating errors
and endless paper work.
 Order distribution

 Input temporary staffing orders 24/7 with immediate access


to vendors.
 Advanced reporting features

 centralization of issues involved in the staffing process.

 Invoice submission, tracking and approval.


BENEFITS CONTINUED…
 instant and complete access to a large volume of affordable
and qualified human resources.

 readily available human resources when you want to


quickly acquire staff or manage long term growth.

 control the entire staffing procedures, management process.


 elimination of the inefficiencies and problems that can
occur in managing a workforce.
 building and maintaining a database of vendors to benefit
your company.
TIPS FOR CHOOSING A VMS/VMO

 Look for such a company which understands technology,


business rules and vendor requirements.

 Don’t be afraid to consult resources to get the office started.

 Establish principals for identifying your top vendors.


TIPS CONTINUED…
 Keep score cards in the system so that it is easy for the
IT managers to rate vendors.

 Give the vendor management power to the authority who


is running your vendor management office.
LOCAL MEMBERS OF A VMO
 Contract Executive
 A member of senior management responsible for the administrative
decision of the vendor contract and ultimately responsible for the
program’s success.

 Vendor Manager
 Under the direction of the contract executive, the vendor manager
works closely with vendors and is responsible for the quality and
cost effectiveness of vendor’s services.
LOCAL MEMBERS OF A VMO
CONTINUED…
 Financial Analyst
 Financial Analyst provides financial analysis and audit (review)
work in support of service contracts.

 Performance Analyst
 Performance Analyst analyses vendor performance in order to
assure fulfillment with service level agreements and continuous
improvement of services.

 Administrative support members


 Ensure that all changes to contracts are made in accordance with
base agreements and interests of the company.
THANKS!!!

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