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Is your company's database reactive or proactive?

One of the key responsibilities of a Vendor Manager is to manage their database. The database is composed of thousands of profiles, one for each supplier. Each profile will contain information such as the supplier’s contact details, services, rates, competencies, performance, tasks performed and all the paperwork required.  Being the main point of reference for project managers when assigning work, the information within the database must be as up to date and accurate as possible. This way, projects can be assigned to suitable suppliers, and Vendor Managers can easily spot any supplier gaps.  The database is constantly changing, not only as suppliers evolve, but also as client’s requirements change. From my experience, the database must be flexible in order to suit any unexpected projects and new clients. This is where you can test whether your database, and by extension, your Vendor Management team, is “proactive” or “reactive”.  A reactive database can be defined as a d...

Coping with uncertainty during the COVID-19 pandemic

The first six months of this pandemic have been a time of discovery and change for me in all aspects of my life. I have learned that the mind is the strongest asset we have, and being able to control it can change your life. However, the pandemic is still here, and we are still suffering its consequences, such as working from home, self-isolation, lack of personal contact etc.  While self-isolating at my friend’s house for two weeks, I overheard a training session she was attending about tips on how to cope with uncertainty, and how to support your teammates through the pandemic. It was very interesting, so I took some notes to share with all of you here. There are three powerful strategies for coping with uncertainty that we can all apply in our daily lives: reframing your thoughts, taking control of your situation and taking care of yourself. By Colton Sturgeon. Let’s start with reframing your thoughts. This refers to the different ways in which you can order your thoughts, welco...

What are the key skills needed for vendor management?

While browsing the Internet, I came across a list of attributes that a successful Vendor Manager should have, and I found it very interesting. Some of these skills are also important for other roles, but I find them especially important for any role within the translation vendor management field.  👋Excellent communication skills👋 Vendor Managers need to communicate with different parties: teammates, colleagues, suppliers and clients. Being the administrator of the database gives the Vendor Manager a lot of knowledge about the company’s suppliers (or what is missing), so they are the best people to answer their colleagues' questions. For example, when the sales team wants to check the number of resources the company has for certain language combinations, or when project managers can't find a suitable supplier for their job. 😀Ability to develop and maintain strong and successful working relationships😀 This is one of the main duties of the Vendor Manager. Recruiting suppliers ...

Management of Supplier Relationships

A company's database is one of their most valuable assets. Therefore, the relationship between the LSP and their suppliers is key to the success of the supply chain. Establishing and developing these relationships is one of the main responsibilities of the Vendor Manager.  In every relationship, we need to take into account each party's power. The matrix below will help the Vendor Manager assess the effectiveness and strength of the company's database by taking into account each party’s interest in the collaboration and the translation market. This analysis will split the database into four main groups:  Key suppliers – Supplier dominance This group should include the company's go-to suppliers. The people that the company can always rely on, who work with their most important clients and who generally deliver quality translations. The supplier should receive a large amount of work from the company, and have worked with them on a long-term basis to qualify for this group...

Business Protocol

While at university, I attended a short course on protocol and etiquette. I can’t remember much about it except that the teacher was absolutely hilarious, and that I enjoyed the subject a lot. After sorting through my university notes, I found the notes I took at the time, and I wanted to share them here.  Protocol is understood as a system of rules that explain the correct conduct and procedures to be followed in formal situations. It is a way to institutionalise public and private events, describing the behaviour and procedures to be followed during these events. The reason why I find it so interesting is because protocol rules are based on the relationship between the different parties attending the event. When used within a business environment, it conveys the company’s values, philosophy and image to the other party. Therefore, it can be used as a way to consolidate the reputation of the company among its employees and clients alike. It can be used as a tool to build and devel...