Due Diligence and Ongoing Monitoring

Do you maintain formal exit plans for any or all of your vendors? We've included the requirement in our procedures and are now starting the task of actually completing the plans. We are initially working with our critical vendor group, but aren't sure the best way to document these plans.

We have a general idea of the things that we want to include in the plan - the vendor, at least one possible replacement vendor, key contract components, runway timeline for transition to a new vendor, critical involved parties needed for a transition. But we aren't entirely sure of the best way to document this. 

If you do have documented exit plans, do you have a template? Are you using an excel document or maybe a Memo? I'd love to hear how your company is handling this and if there is any other information that is important to your company that your including. 

Do you maintain formal exit plans for any or all of your vendors? We've included the requirement in our procedures and are now starting the task of actually completing the plans. We are initially working with our critical vendor group, but aren't sure the best way to document these plans.

We have a general idea of the things that we want to include in the plan - the vendor, at least one possible replacement vendor, key contract components, runway timeline for transition to a new vendor, critical involved parties needed for a transition. But we aren't entirely sure of the best way to document this. 

If you do have documented exit plans, do you have a template? Are you using an excel document or maybe a Memo? I'd love to hear how your company is handling this and if there is any other information that is important to your company that your including. 

Following! 

In your procedures, how did you break down what it entails?

Original Message:
Sent: 10-06-2023 10:33 AM
From: Anonymous Member
Subject: Exit Plans

This message was posted by a user wishing to remain anonymous

Do you maintain formal exit plans for any or all of your vendors? We've included the requirement in our procedures and are now starting the task of actually completing the plans. We are initially working with our critical vendor group, but aren't sure the best way to document these plans.

We have a general idea of the things that we want to include in the plan - the vendor, at least one possible replacement vendor, key contract components, runway timeline for transition to a new vendor, critical involved parties needed for a transition. But we aren't entirely sure of the best way to document this. 

If you do have documented exit plans, do you have a template? Are you using an excel document or maybe a Memo? I'd love to hear how your company is handling this and if there is any other information that is important to your company that your including. 

If you shoot me an email I can send you a blank one.

------------------------------
Jenn Wilkinson
Vice President
Strategic Vendor Management
Cenlar FSB

Original Message:
Sent: 10-10-2023 09:32 AM
From: Anonymous Member
Subject: Exit Plans

This message was posted by a user wishing to remain anonymous

Following! 

In your procedures, how did you break down what it entails?

Original Message:
Sent: 10-06-2023 10:33 AM
From: Anonymous Member
Subject: Exit Plans

This message was posted by a user wishing to remain anonymous

Do you maintain formal exit plans for any or all of your vendors? We've included the requirement in our procedures and are now starting the task of actually completing the plans. We are initially working with our critical vendor group, but aren't sure the best way to document these plans.

We have a general idea of the things that we want to include in the plan - the vendor, at least one possible replacement vendor, key contract components, runway timeline for transition to a new vendor, critical involved parties needed for a transition. But we aren't entirely sure of the best way to document this. 

If you do have documented exit plans, do you have a template? Are you using an excel document or maybe a Memo? I'd love to hear how your company is handling this and if there is any other information that is important to your company that your including. 

If you shoot me an email I can send you a blank one.

------------------------------
Jenn Wilkinson
Vice President
Strategic Vendor Management
Cenlar FSB

Original Message:
Sent: 10-10-2023 09:32 AM
From: Anonymous Member
Subject: Exit Plans

This message was posted by a user wishing to remain anonymous

Following! 

In your procedures, how did you break down what it entails?

Original Message:
Sent: 10-06-2023 10:33 AM
From: Anonymous Member
Subject: Exit Plans

This message was posted by a user wishing to remain anonymous

Do you maintain formal exit plans for any or all of your vendors? We've included the requirement in our procedures and are now starting the task of actually completing the plans. We are initially working with our critical vendor group, but aren't sure the best way to document these plans.

We have a general idea of the things that we want to include in the plan - the vendor, at least one possible replacement vendor, key contract components, runway timeline for transition to a new vendor, critical involved parties needed for a transition. But we aren't entirely sure of the best way to document this. 

If you do have documented exit plans, do you have a template? Are you using an excel document or maybe a Memo? I'd love to hear how your company is handling this and if there is any other information that is important to your company that your including.