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Best Practices for Working with Vendors and Suppliers

  • CPA (CA)
  • CPA (US)
Best Practices for Working with Vendors and Suppliers

1.5 Credits

$15

Subject Area

Business Management and Organization

Webinar Qualifies For

1.5 CPE credit of Business Management & Organization for all CPAs

1.5 CPE credit for Certified Management Accountants (CMA)

1.5 General Educational credit for Tax Professionals / Bookkeepers / Accountants

Course Description

Attendees of this live continuing education webinar will gather information related to building vendor relationships that will best benefit your organization. They will know what to look for in reviewing agreement terms that protect their employer and mitigate risk. In this CE webinar we will review areas that enhance your value to a vendor and how to make vendors and suppliers work for you. They will hear of several real-life examples of problems and success stories in building vendor relationships. There will be examples of win-win solutions where both the customer and the vendor benefit. Participants will learn to avoid pitfalls that can cause problems for them and their organization. They will learn about monitoring vendor performance to enhance the quality of the services they provide your company or agency.

This Online CPE Webinar covers following Key Topics:

  • This is a Business Relationship


a. You are representing your Company or Agency

b. You’re First Priority should be to look out for the best interests of your Employer

c. Your Vendor will be looking out for their best interests

d. Avoid getting into a personal relationship with your supplier or their representative

  • Coming to Terms with your vendor


a. Make your vendor aware of your company or agency purchasing terms and conditions

b. Bind your agreements with vendors using your written or published terms

c. Avoid using agreements drafted by your vendor

d. Review all vendor terms and conditions of sale, warranty, liability, indemnification, etc.

  • Limit the Risk to your Organization


a. Require Insurance of all appropriate types

b. Require certifications or licenses if required

c. Provide for Penalties for unsatisfactory performance

d. Provide convenient exit clauses for your organization

e. Do a vendor Responsibility Check

  • How to increase the quality of your business relationship with vendors


a. Know what products and services they provide

b. Offer them open and competitive solicitations

c. Give them adequate time to respond to solicitations

d. Monitor their Performance

e. Pay them timely in accordance with your published payment terms

  • Case Studies


a. Vendor is doing work that puts your company at High Liability Risk

b. Vendor is not providing Quality Transportation Services

c. Long time vendor is protesting their loss of Business

d. Monitoring Supply vendor leads to more flexibility to the end user

e. Poor results are discovered after the vendor has left the job site

Learning Objectives

  • To discuss how to monitor vendor performance
  • To enhance the quality of the services provided to your company or agency
  • To summarize areas that enhance your value to a vendor
  • To explain how to make vendors and suppliers work for you.
  • To discuss real-life examples of problems and success stories in building vendor relationships.
  • To explain how to avoid pitfalls that can cause problems in vendor management

Who Should Attend?

  • Business Owner
  • Certified Management Accountant
  • Certified Public Accountant
  • CPA (Industry)
  • CPA - Mid Size Firm
  • CPA - Small Firm
  • NonProfit CEOs
  • Nonprofit Professionals
  • Young CPA