Vendor Management

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We recommend our approach to Vendor Management for organizations wishing to:
	Identify the best fit at the least cost required to match the needs.
	Ameliorate their management of vendor operational adequacy and control, financial solvency and service levels.

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Vendor Management is a program designed to assess the risks associated with utilizing a vendor, identify the processes required to select a vendor, determine contractual requirements and manage the ongoing risk associated with the vendor. The key elements of any vendor management program follow:

Risk Assessment and Requirements Definition—assessing the reputational, strategic,
   compliance and monetary risk associated with outsourcing and developing the needs
   assessment.

Vendor Selection—defining the requirements for selecting a vendor and conducting due
    diligence to ensure the solvency and operational adequacy of the vendor.

Contract Issues—risk rating the successful vendor to determine ongoing monitoring
   requirements and contract requirements.

Ongoing Monitoring—defining the requirements for monitoring service level agreements,
    operational adequacy and controls, financial solvency and potential environmental risks.

Our approach is to align the risk associated with the vendor/service to the rigor required to select and monitor the vendor. We accomplish this alignment through a tiered structure.

Cheryl Gross & Associates provides a wide array of Vendor Management services scaled to our clients’ needs and requirements. Our services include:

Program Design
Vendor Monitoring
Project Management and Implementation of Major Acquisitions