Gartner Research

Improve Vendor Performance by Formalizing a Vendor Relationship Management Framework

Published: 19 October 2016

ID: G00302854

Analyst(s): Edward Weinstein, Joanne Spencer

Summary

Sourcing and vendor management leaders must clearly define the vendor relationship management structure and processes to maximize the value of vendor engagements. This research describes the key elements and activities of a collaborative vendor relationship management framework.

Table Of Contents
  • Key Challenges

Introduction

Analysis

  • Define the Scope, Outcomes and Activities of Vendor Relationship Management and What It Means in Your Organization
    • What Does Vendor Relationship Management Do?
    • Define What You Want to Get Out of Your Vendor Relationships and Align Vendor Relationship Management Activities to Achieving Those Outcomes
  • Develop a Vendor Relationship Management Framework That Can Be Standardized and Applied Across Your Organization
    • Culture — Behaviors, Beliefs and Values
    • Alignment — Goals, Strategy and Plans
    • Trust — Respect, Honesty and Transparency
    • Communication — Listening, Feedback and Clarity
    • Collaboration — Proactivity, Cooperation and Goal Alignment
  • Roll Out the Vendor Relationship Management Framework, Initially Piloting With One or Two Key Vendors

Case Study

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