WeeK 10- Vendor Managment, RFI+RFP Flashcards
What is Vendor Management
-the discipline if managing, administering, and guiding product and service vendors in an organized way to drive vendor behaviour in order to optimize IT or business outcomes
What is a VMS
vendor management system
What does a VMS do
- it is an internet enabled, often Web based application that acts as a mechanism for business to manage and procure staff and services-temporary or permanent- as well as outside contact or contingent labour
what are some typical features of a VMS
- order distribution
- consolidated billing
- reporting capabilities that outperform manual systems and processes
what are some challenges with VMS
- learning curve with existing systems
- consistent communication
- lack of a sense of ownership
how can organizations get help
- just hire someone you know
- RFI
- RFP
- RFT
- RFQ
What does RFI tand for
request for informaition
what does RFP
-request for proposal
what does RFT
request for tender
what does RFQ
request for quote
what is the RFP (request for proposal) proces
1: current state review
2: define requirements
3: technological options
4: evaluation and selection
5: business case and planning
how to respond to an RFP( request for propsal)
1: understand all RFP requirements
2: Assign due dates and tasks to subject matter experts
3: respond to questions in the RFP
4: review and revise RFP respnses
5: Finalize and approve RFP
6: Submit RFP to issuer
what is a SLA stand for?
-service level agreement (SLA)
What is a SLA
-defined as a contract between an organization and a vendor
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