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The Effect of Vendor Management Strategies in Poblacion, Lupon, Davao Oriental Morales, Princes Faye C
The Effect of Vendor Management Strategies in Poblacion, Lupon, Davao Oriental Morales, Princes Faye C
The Effect of Vendor Management Strategies in Poblacion, Lupon, Davao Oriental Morales, Princes Faye C
CHAPTER l
INTRODUCTION
working effectively with vendors and that you are, indeed, generating the
business and service outcomes you require from the deal. The relationship
manager builds and govern the partnership and relationship with one or more
key providers and is the owner of one or more relationships. The vendor
four key areas: performance, risk, price, and sales. Good vendor management
prompts vendors to deliver your products and services at the optimal level of
quality and risk, at the required time and place, and at the best price. We
vendor risk, manage vendor sales and manage ongoing vendor relationships.
of one another. Salespeople worried only about fulfilling product demand, not
creating it. Vendors or the marketers failed to link advertising money spent to
actual sales made. The sales obviously couldn’t see the value of the vendor
efforts. And, because of the group were poorly coordinated, vendor’s new
product announcements often came at a time when sales was not prepared to
to their sales are the significantly relate to the management strategies. Mati City
vendors are clearly aware in having good sales on the supplies they’ve
produce. Some of these concerns are the unsold supplies that affect the sales
and results into another strategy that the vendor needs to do.
The said issues persuaded the researcher to conduct the study to find
management in Baywalk, Mati City, Davao Oriental. In results, this study will be
Having standards in place before engaging with vendors can save you a lot of
time and money. Not all vendors will meet your expectations. It's critical to
pick the correct vendor from a pool of candidates who fulfill your
more difficult.
While some vendors may do an excellent job on your project, others may put
up with bad performance and cause all of your deadlines to be thrown off. As
a result, background checks are required before any decision is taken. This
may provide you some insight into key points that you may have overlooked
previously.
While a centralized data storage solution is critical for managing vendor data,
dealing with several vendors for multiple projects at the same time.
Some vendors may have different payment terms than others, while others
may follow industry standards. One of the biggest challenges is figuring out
the conditions and ensuring that payments are always made on time,
We can deduce from this that excellent vendor management is critical. Every
engagement:
easier to understand the needs of each business unit and avoids duplication
of effort and resource waste when it comes to selecting and contracting with
vendors. It also aids in the later stages of monitoring and measuring vendor
step after outlining corporate goals. This unified team should be able to
the business units and the vendors, ensuring that both parties work together.
goals are defined and the vendor management team is up and operating.
(I) It will match the business units' requirements with the appropriate provider.
The administration, for example, can identify the appropriate vendors for office
be housed in a single area, providing insights into the present stage of the
vendors, such as those with contracts in place, those who require renewals,
and so on.
between long-term, vital vendors and short-term, tactical vendors with ease,
categorized, you must choose the criteria that will be used to choose all
relevant vendors.
While cost has always been the key consideration for selecting vendors,
vendor would best meet their needs - after all, the lowest cost does not
always imply the best value. Financial stability, previous expertise in the field
vendor, economies of scale, and their legal/regulatory records are all non-cost
The vendors must be assessed based on the selection criteria and, if relevant,
The pricing structure, scope of work, and how the requirements will be met,
terms and conditions, expiry and renewal periods, and other aspects of the
presented proposals must all be thoroughly evaluated. This will ensure that
the vendor provides the most value to your company. Look for savings options
management.
So, you've finally found your match. It's time to wrap up the contracting
The legal and finance teams, as well as senior executives dealing with the
vendors, are typically allocated to the contracting stage. After the contract is
finalized, the rest of the business units receive it and engage with the
vendors. In the long term, this is inefficient because business units are the
ones who are actually interacting with suppliers on a daily basis and have
As a result, at the very least, all relevant stakeholders must be involved in the
decision-making process.
Practices
You've put in place a vendor management procedure that's optimal for your
company. Vendor management, on the other hand, does not end with the
Excellent practices that complement your procedure and can improve the
some examples:
goals as well as the vendors' expectations. Let the vendors know what your
current and future requirements are, as well as how they relate to your
company's goals. It will allow you and the vendors to be on the same page
(2) Make sure you set deadlines that are both reasonable and practical.
Given your objectives and expectations, it's critical to set dates that the
genuine collaboration.
(3) Work together with your vendors to keep long-term partnerships going.
Isn't it true that the word 'partnership' has been mentioned several times? It's
significant since just negotiating pricing and performance with vendors leads
vendors in brainstorming how to meet the goals and expectations leads to the
the company and the vendors to come up with new ideas for how to get the
How can we know if the vendors are meeting the agreed-upon expectations
place to track the many aspects of suppliers and determine whether the
* On-time delivery, response time to order issues and emergencies, and other
is.
This is undoubtedly one of the most significant approaches for ensuring that
Financial, payment, operational, compliance, and data security are just a few
of the risks associated with vendor management. At each stage of the vendor
their impact depending on your risk appetite, and devise mitigation strategies.
The dangers that pose as risks are constantly changing, so make sure you're
evaluating the controls you have in place, their efficacy, and updating them as
needed. This degree of due diligence will assist you in minimizing vendor-
related risks and ensuring that vendor performance meets all standards.
management:
Your firm may benefit from a broader number of vendors by putting in place
proper vendor management, which will provide you more options and lower
prices.
A bidding battle amongst vendors can benefit your business while also
By putting in place a good VMS, your company will have a centralized view of
This might help your company determine what is working and what isn't. This,
overall performance.
(4) Improved Vendor Relations
Managing numerous vendors at the same time is never easy. Some sellers
may be quite profitable, while others may not. The key to a successful project
You gain from having all vendor-related information in one place since you
obtain all essential information at once, and it can impact your decision-
time.
Research Locale
Davao Oriental.
Sample Size
Presented in the table are the respondents of the study, the 100 respondents
which are the vendors in the Baywalk, City of Mati, Davao Oriental.
Distribution of Respondents
Research Instrument
This study made use of a downloaded questionnaire that has the content
which was validated and modified. The questionnaire consist of two (2) pages. The
first page of the questionnaire is the vendor’s profile, their name and gender. The
following page consist of the questions that the respondents needs to answers, a
questions which pertaining to the indicators of the study. The respondents instructed
not observed
observed
strongly observed
This study will begin with the formulation of the problem and the identification
of the variables, as outlined in the research paradigm, using the procedures outlined
Permission to Conduct the Study. The researchers will write a letter to the
management strategies: its effect on vendors in Baywalk, Mati City, Davao Oriental.
checked by the researchers and the result was collated and tabulated. After the
results was tabulated it was given to the statistician for the statistical treatment and
analysis.
Average Weighted Mean (AWM). This tool was used to determine the value
Analysis of Variance (ANOVA). This tool was used to determine the value of
level of sales
Pearson r. this was used to determine the significant relationship between the
extent of management strategies of vendors and the level of sales in Baywalk, Mati
REFERENCES
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