Vendor Management

We take a strategic approach to building and maintaining relationships with vendors from around the world. Vendor management involves overseeing the lifecycle of the vendors (subcontractors) supporting a company’s objectives. This includes identifying specific project needs, identifying specific potential vendors to support the work, communicating your project requirements to potential vendors, developing a compliant subcontract, and ensuring active oversight, control, and management of post-award support.

As an organization, we provide a full-service support, including the identification, selection, and management of vendors across the life sciences industry. Using a team-based approach, our experience, and our cumulation of contacts in the industry, we serve as a valuable hands-on resource for vendor identification, selection, and management.

To ensure that business objectives are met, good relations with your vendors is critical, and having structure in your vendor relationships is key. LBG can help you establish these relationships, and can provide guidance on how to ensure proper controls are in place and how to maximize value.

Our Vendor Management Services include:

  • Vendor identification – cold or warm, depending on our vast amount of contacts
  • Vendor selection
  • Preparation of RFPs, including scope and timelines, review of proposal
  • Reviewing and providing advice on the actual vendor agreement.
  • Supporting the monitoring of vendor performance against scope and budget and supporting the management effort of the vendor
  • Supporting the capture of relevant technical and financial information to support reporting requirements
  • Supporting the change control process and facilitating any modifications to vendor agreements
  • Risk mitigation

For more information about how we can support your Vendor Management requirements, please contact Gretchen Stup.