How Danske Bank creates supply chain resilience and value via its Vendor Management Centre of Excellence
In this CIPS Download webinar, produced in partnership with Brooklyn Vendor Assurance, we look at how it is crucial to ensure better vendor management within any organisation.
In these times of change, best-practice vendor management is a differentiator among high-performing businesses. The thought leaders take a holistic approach, running integrated business processes that cover contractual and regulatory (when applicable) obligations, supply chain performance, frontline risk management, and innovation. They drive cost and process efficiencies and are an indispensable party to the strategic sourcing conversation.
Take Danske Bank, for example. It has a Board-level goal of excellence in governance, compliance, security, and value realisation across its entire supply chain. It is in a transformation journey, with many lessons learned and with change underway. Most recently, it has combined several supply-chain related functions that most companies still essentially run as silos.
Danske Bank has combined best practices and disciplines across contract management, performance management, service management, and frontline risk management into one orchestrated Vendor Management Centre of Excellence. It experiments and applies the advice of leading experts, and the results are coming into focus and highlighting a handsome return on investment.
In this webinar, brought in partnership with Brooklyn Vendor Assurance, an enterprise cloud-based software platform that delivers value-for-money and compliance across the vendor portfolio, we will explore:
- what has worked well and what pitfalls to avoid on Danske Bank’s own procurement transformation journey
- how to make a business case for change.
- the technology available to automate the practice of managing vendors
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Lars is a contract management innovator and leader, on a mission to realise Danske Bank’s Board-level goal of business-value-based contract management. He co-developed, piloted and embedded a ‘state of the art’ contract management best-practice framework. He is a core component to Danske bank’s transition from Procurement-based contract management, to IT and Business value driver, to a founding member of the Danske Bank Vendor Management Centre of Excellence (COE), which now combines management of supplier contracts, performance, and front-line risk.
Jesse Lee is a specialist in technology and business management and modernisation. He is CEO of Brooklyn Vendor Assurance, a next generation B2B Enterprise SaaS company focused on helping the Chief Procurement Officer (CPO) and Head of Compliance maximise value for money across existing suppliers in contract. Brooklyn Vendor Assurance is the first application purpose-built for the Vendor Management discipline.