Takeaways

• Organizations often lack a structured way to evaluate vendors.
• A scorecard can help monitor vendor performance over time.
• Identifying triggers for audits can prevent larger issues.
• Communication is a critical factor in vendor relationships.
• Documentation is essential for transparency and accountability.
• Systemic issues can often be masked by one-off problems.
• Regular evaluations can help maintain healthy vendor relationships.
• Quality drift should be monitored to ensure standards are upheld.
• Establishing clear criteria for success is vital.
• Future planning can alleviate pressure during vendor evaluations.

Chapters

• 00:00 Evaluating Vendor Relationships
• 01:56 Understanding Audits and Scorecards
• 03:04 Ongoing Evaluation of Vendor Success
• 05:51 Identifying Triggers for Vendor Audits
• 09:03 Distinguishing Between One-off Issues and Systemic Problems
• 10:41 Establishing Evaluation Criteria
• 13:40 The Importance of Communication and Reporting
• 14:57 Key Categories for Vendor Evaluation

Links

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