In theory, all language service providers have access to the
same pool of resources. Yet in practice, so many vendor management strategies
exist – different approaches to process, staffing, and tools – that every LSP ends
up with a different database. Vendor pools vary in breadth and depth, shaped by
the company’s clientele and its business approach.
To explore this subject further, CSA Research interviewed 31 LSPs.
The first report resulting from this research series focused on how to design
the vendor management function (see “Vendor
Management at LSPs,” Oct15). This second installment analyzes best
practices for companies developing their VM processes. This report guides new business
owners wanting to systematize their approach to supply chain management. It also
helps established VM teams on their trek toward process maturity. In this
report, we cover:
- Capacity Planning. We outline approaches to planning, situations that trigger new recruitment initiatives, and timing issues.
- Locating Talent. We investigate the resources that LSPs use to find vendors and the challenges to ferret out the right talent.
- Qualifying Vendors. We cover LSP practices tied to vendor screening, competency evaluation practices, rate negotiations, and paperwork.
- Selecting Vendors. We review principles used to match vendors to projects and the challenges with getting project managers to try new resources.
- Monitoring Performance. We examine the systems deployed by LSPs to rate vendor performance and manage problems.
- The Key to Successful Relationships. We advise on how to develop mutually beneficial relationships with vendors.
- Information Sources. We provide details on the profile of interviewees.