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Think IT SPG Group

Mission: “To foster professional growth and development through the power of networking and collaboration.”

• Think IT is a service of

• Think IT Association was founded in 2009. Each group meets regularly in an informal, roundtable format with a different member from the group facilitating each session.

• The Strategic Partnerships Group is designed for IT leaders in partnership and relationship positions that work with both internal and external stakeholders. The goal is to generate ideas and best sourcing practices across various IT relationships.

• Additional Think IT Program:• Link to Leadership

• 6 month leadership development course that is designed and led by IT executives from across the metro

• Benefits Genesys Works-Twin Cities alumni through the Think IT Young Professionals Scholarship fund

• While there is no cost to be a member of Think IT, it is not FREE and we do ask that members invest their time and experience and be open to facilitating

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B2E Update

For more information, contact: Silvia Hinton at shinton@yorksolutions.net

A big thank you to the following companies who have hired our B2E students!

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A Proud Partner of

• To date we have raised a total of $542,495 for Genesys Works, through the Think IT Golf Invitational and our Link to Leadership program!

• Contact Anna Wischmann (awischmann@yorksolutions.net) if you would like to get involved!

Save the date! Monday, June 24th 2019

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Upcoming Meetings

Save the Date!

Friday, May 17th - Women in Leadership Group Meeting

• Location: Cargill

• Facilitators: Jackie Hartman, Business Relationship Manager at Cargill & Robin Brown, CIO North America Protein at Cargill

• Topic: Creating “meaningful connections” is not all about your job!

Thursday, June 6th – IT Leadership Group Meeting

• Facilitator: Lori Salberg, Principal Engineer, SAP at Target

• Topic: Learnings from Sapphire & the Road to S/4HANA

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Art and Science of Managing Vendors

Nick Fuhry, IT Global Sourcing Manager at Boston Scientific

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What is Vendor Management

Vendor management is a discipline that

enables organizations to control costs,

drive service excellence and mitigate risks

to gain increased value from their vendors

throughout the deal life cycle

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Strategic Sourcing Process

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Aspects of Vendor Management

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The Science of Managing Vendors

• Designation of a Program Owner

• The company needs to designate someone in the organization who “owns” vendor management, including approval of vendors and ensuring compliance with the company’s approved policies and procedures.

• Comprehensive Policies and Procedures

• The company should develop written policies and procedures to provide a solid framework for governance of vendors.

• Methodology to risk rate vendors

• Vendor management program should differentiate the diligence and documentation requirements among high, moderate and low-risk vendors.

• Due Diligence and Auditing

• Expectations of Vendor performance should be established in the RFP

• Required Compliance Documentation

• Vendors should provide qualifications about their experience, evidence of adequate insurance, licenses, references, and certification of the vendor’s compliance with applicable laws and regulations

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The Art of Managing Vendors

• Understand the cost and value of the entire supply chain

• Leverage total production cost to both parties' advantage

• Emphasize the right level of urgency in working with vendors

• Spend equal time aligning incentives and penalties

• Share critical information as early as possible

• Plan for exceptions to the established rules

• Make strategic vendor relationship meetings meaningful to the vendor

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Discussion Questions

1. Which aspects of vendor management should be standardized?

2. What areas have you seen successful vendor partnerships?

3. What can vendor management do to improve its own cycle time engaging vendors?

4. How can vendor management better support the IT’s mission to protect customer data

in the vendors possession?

5. How is tracking vendor cost savings a useful metric for the vendor management team

and mission?

Thank you to Prime Therapeutics for hosting and to Nick for facilitating!