Vendor Management Resource Planning & Staffing Optimization
Create an effective resourcing strategy for vendor management operations, establishing the roles, skills, and scalability you need for long-term success.
Build Your Blueprint for a Scalable Vendor Management Team and a Knowledgable Workforce
Our resource management assessment will guide you in establishing an effective, scalable strategy to align vendor management roles and responsibilities, close skill gaps, and enhance training to meet current and future demands. We pinpoint critical areas for improvement and provide tailored recommendations for staffing models, role alignment, training, and performance support.
Partner with Vendor Centric to build an effective strategy to meet current demands and achieve sustainable success.
The Value of Working with Vendor Centric
Responsibilities
Assessed
Our assessment spans the full lifecycle of vendor management roles and responsibilities, highlighting key areas for improvement from sourcing to offboarding.
Multiple Options
Tailored to You
Evaluate multiple strategies and options for educating your staff, closing skill gaps, and resourcing vendor management operations in a scalable, cost-effective way.
Faster
Implementation
We provide a variety of training, staff support, and managed service options to help you close gaps quickly and optimize resource management.
Vendor Centric provided a variety of practical opportunities to improve vendor management, supported by a detailed strategy and plan to resource our future state operations. Their work was critical to helping West Bend take the next step in maturing our program.
Our Approach
Step 1
Success Planning
We begin defining your resource management improvement goals, aligning stakeholders and establishing project governance, establishing a clear path to success.
Step 2
Resourcing Needs Identification
Next, we uncover your pain points and desired improvements, focusing on issues you may be having with vendor management roles and responsibilities, skill gaps, training, and capacity constraints.
Step 3
Resourcing Assessment
With a solid understanding in place, we assess your current infrastructure by analyzing vendor management roles and responsibilities, volume of activities, procedures, and training. The assessment identifies the root causes of your pain points and guides improvement strategies.
Step 4
Strategy Development
Using insights from the assessment, we tailor a resource management strategy to alleviate immediate pain points and provide a scalable resourcing model for the long haul.
Step 5
Implementation Support
Finally, we create a detailed game plan for deploying improvements, and partner with you to close skill gaps and fill resource needs to ensure long-term success.
Building a Winning Team to Support a Vendor Management Transformation
In 2020, Public Health Solutions (PHS) embarked on a journey to transform their vendor management operations. A critical part of the transformation was to establish a resource management strategy and staffing to support future state operations, inclusive of procurement, contracts and third-party risk management.
Vendor Centric guided PHS in creating and executing the strategy, and building a team of specialists that would serve as the organization’s ‘center of excellence’. The new resourcing model provided PHS with an improved level of subject matter expertise and scalability, providing support and standardization to internal stakeholders across the organization.
Ready to Get Started?
Learn more about our resource management assessment services and let us develop a tailored solution for you.
Frequently Asked Questions
Executing the right resource management strategy for vendor management operations is a big challenge for many organizations. Some of the common pain points include:
- Subject Matter Expertise: Gaps in skills in areas such as procurement, risk, compliance, and contracting, especially in decentralized operating models.
- Scalability: Difficulty in quickly scaling up to meet times of peak demand, and then scaling back down in a cost-effective way.
- Knowledge: Inadequate training and performance support tools to give staff the knowledge they need to apply best practices, and execute activities consistently and compliantly.
- Inefficiency: Outdated processes and workflows, resulting in wasted time, bottlenecks, and inefficiencies in how resources are utilized.
Our comprehensive resource management assessment helps you overcome these challenges by identifying root causes, tailoring a strategy that is right-sized for you, and providing actional recommendations to improve resource management and boost productivity.
Our assessments cover roles and responsibilities for every aspect of vendor lifecycle management operations, including:
- Sourcing & Procurement: procurement planning, solicitation management, and category management.
- Risk Assessments & Due Diligence: risk identification, risk tiering, due diligence, risk analysis, and risk remediation.
- Contracting & Onboarding: contract authoring, negotiation, execution, and onboarding.
- Purchasing: requisitions, purchase orders, and invoices and payment.
- Contract & Risk Management: performance management, risk management, issue escalation.
- Termination & Offboarding: transition planning, contract closeout, and offboarding.
Some of the factors we consider when forecasting vendor management resourcing needs include:
- Current Infrastructure: Assessing your existing capabilities and readiness to support growing and more complex vendor management responsibilities.
- Planned Growth: Understanding your expectations for growth within the business.
- Maturity Goals: Identifying your goals for expanding and maturing vendor management operations, including adopting new practices and developing new skills.
Typically, our resourcing assessment service spans two to three months, ensuring enough time to conduct a thorough evaluation to provide detailed insights and actionable recommendations, augmenting all aspects of your vendor management activities.
Our resourcing assessment process is designed to minimize the demand on your internal teams as we lead the process, handling most of the work. The type of involvement you can expect includes:
- Steering the Vision: Providing insights on your pain points, goals, and objectives which will shape the direction of the assessment.
- Providing Baseline Information: Sharing key details and documents during the success planning phase to establish a solid baseline for our assessment.
- Tailoring the Recommendations: Collaborating with us to evaluate and prioritize improvement opportunities so we can ensure the strategy and improvement plan are tightly aligned to your near and long term goals.
Our resourcing assessment is tailored to meet your organization’s unique needs, challenges, requirements, and goals. This is accomplished by considering vital factors, such as:
- Scope of Operations: Evaluating the breadth of your vendor management activities to align our recommendations with your operational scale.
- Industry Requirements: Ensuring all recommendations consider industry-specific regulations and standards for compliance.
- Operating Model: Adapting recommendations to fit your organizational structure, whether it’s centralized, decentralized, or a hybrid model.
- Budget Considerations: Focusing on improvements that can be executed within your budgetary constraints.
We consider all of these factors when developing the resource management recommendations to ensure they a practical and viable for your organization.
Yes, we provide comprehensive support for implementing the improvements we recommend. Our services extend to:
- Staffing Realignment: Assisting with realignment of organizational structure and personnel, including development of RACI charts and assisting with change management during the realignment.
- Training Program Development and Delivery: Crafting and executing customized training programs to ensure staff is equipped with the necessary skills and knowledge.
- Procedure Updates: Updating your procedures to remove bottlenecks and inefficiencies for staff, and to ensure proper alignment of roles.
- Staff Augmentation: Providing additional resources and subject matter expertise to augment your team with skilled professionals tailored to your needs.
- Managed Services: Handling your third-party risk assessment and due diligence activities to offload pressure from your staff and provide cost-effective, scalable support.
We stay at the forefront of vendor management resourcing through continuous research and industry engagement. Our expertise stems from an in-depth analysis of market trends. We actively engage with the broader industry community through educational content, such as our monthly webinar series, the “Rethinking Vendors” podcast series, and collaborations with thought leaders. This approach enables us to gather fresh insights and best practices in vendor management.
Engagement with your key stakeholders is critical to the success of our assessment process. We emphasize involvement at each step to gain comprehensive insights and align with organizational goals. This approach ensures that the strategies developed reflect and respond to the broader organizational context, incorporating a range of perspectives for more effective and actionable outcomes.
The primary deliverables from our resourcing assessment process include:
- Resource Management Assessment Report: An in-depth review of your current vendor management resourcing, along with strategies and prioritized opportunities to improve resource management.
- Deployment Plan: A tailored plan for deploying the improvements to strengthen the depth, breadth and skills within your organization to enable effective, scalable vendor management operations for the long haul.
Simply schedule a complimentary consultation to discuss your project details, and we’ll deliver a customized proposal and cost estimate, typically within a few days.