This message was posted by a user wishing to remain anonymous
Ideally, if you don't have a vendor management team, the business should be tracking month over month performance for contractual SLAs- they should be addressing performance failures or downward trends and taking steps to hold their vendors accountable to document what the root cause was, and how they are addressing to avoid it in the future. If the business made a decision not to penalize a vendor for a failure, that also should be documented. The Business should be able to demonstrate sufficient oversight of the vendor and participate in the review of their vendors.
In addition to them providing you with the scorecard performance and details on how they are calculated and validated; we ask several questions of the vendor owners to identify performance concerns that may not show up on a scorecard and ask for details. For Exampley:
- Are there any plans in near future to modify services, SLAs or other contractual components
- Have you been satisfied with the vendor's performance overall?
- Have you had any problems or other issues reported through issues management related to the use of this vendor that required formal address with the vendor?
- Do you believe the vendor maintains the ability to support and enhance your department's strategic goals?
- Have their been significant complaints that this vendor has been the root cause of in the last 12 months?
- If you have other vendors performing similar or related services, how would you rate this vendor against them?
- Overall Vendor Rating (Exceeds, Meets, Needs Improvement)
Original Message:
Sent: 02-17-2022 11:24 AM
From: Anonymous Member
Subject: Vendor Performance Reviews
This message was posted by a user wishing to remain anonymous
Good Morning!
I am a new Vendor Management Specialist. The Credit Union family I am now pleased to be apart of has tried to revamp their Vendor Management program and have done a pretty good job, but they haven't had anyone specifically focused on Vendor Management full time. I am going to implement Vendor Performance Reviews to our Vendor Owners that will align with the SLA's in the contract so we can keep tabs on how our vendor is performing and if they are holding up to the standard that was set in the SLA. I am having some trouble coming up with questions that can be used on the Performance Review. I want to have one template, and have questions under each criticality and whatever vendor that vendor owners classified under they would respond to the questions on a rating scale of 1-5 and anything under 3 is given a detailed description as to why the vendors performance is not meeting our standards. Venmindor does not have a template for these yet, but i was told yesterday they have plans to introduce this early summer. Can anyone help me formulate some questions or give me some examples of questions you all have used to help me get started?