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[Webinar] Contractor Management: What is the Return on Investment (ROI)?

  1. Supplier/Vendor Management What is the Return on Investment (ROI)?
  2. Presenters Aaron Rudd Vice President, Business & Product Development, BROWZ Derek Borgert Vice President, CTO, BROWZ Brett Armstrong Vice President, Marketing, BROWZ
  3. Agenda Why supplier/vendor management? What is the organization impact? What are the costs of doing it right? What results can you expect? Calculating ROI
  4. Making a case for your program
  5. Gain - Investment Investment Gain = expected losses – reduced losses ROI = Investment = Cost of a program
  6. Cost of Incidents National Safety Council • $1,000,000 per death • $29,000 per medically consulted injury - Wage losses, medical expenses, admin expenses, employer costs. - Excludes indirect costs Injury Facts® 2016 Edition
  7. Fines and Penalties Damages & Repair Costs Lost Time Litigation Costs and Civil Damages Increased Insurance Costs
  8. Indirect Fines and Penalties Damages & Repair Costs Lost Time Litigation Costs and Civil Damages Increased Insurance Costs Reputation damage Overtime to offset production down time Strained employee relations Time to investigative time post-incident Poor employee morale Psychological impacts on affected employees Future difficulty hiring new employees
  9. Visit What do experts say?
  10. Poll #1 Which of the following 5 steps are part of your current supplier management program? (select all that apply) • Prequalification • Pre-job task and risk assessment • Contractor training and orientation • Monitoring of job • Post-job evaluation
  11. What results can I expect? BROWZ contractors outperform industry averages for key safety metrics.
  12. Building Blocks of a Program
  13. Building Team/Scope
  14. What Information to Collect? Health & Safety Annual Accident History Injury & Illness Rates Citations & Violations Safety Programs & Policies Safety Manual Audits Insurance & Risk Certificates Policy Types & Limits Endorsements AM Best Ratings Certificate Holders Supplier Demographics Industry Codes Licenses / Expirations Quality Programs Supplier Diversity Ownership Financial Stability Bankruptcy Liens Judgements Third Party Financial ratings Industry Risk Comparison Corporate Social Responsibility Sustainability Waste Management Child Labor Anti-Corruption Ethics
  15. Poll #2 Which of the following are program elements in your supplier management program? (Select all that apply) • Health & Safety • Insurance • Legal • Financial • CSR/Sustainability • Supplier Diversity • Quality Systems • Business Continuity
  16. Program Set Up Technology Implementation CommunicationContractor Support Data Review/Verification Define your requirements. “ Choose or create a technology to track and manage all the data.“ Contact each of your contractors explaining your requirements and asking them to comply. “ Have support personnel available to assist each contractor to help them achieve compliance.“ Verify and score compliance data for accuracy, compliance and completeness.“
  17. Components of Prequalification Gather contractor compliance data and documents Verification of contractor data through document review and private and public database sources. Assessment of contractor data and documents compared to client specific requirements. Data Maintenance through ongoing notifications of deficiencies and expirations on all time sensitive data. Verify AssessMaintain Gather Contractor Compliance Information
  18. Post Prequalification Results
  19. More than a 1-time Event
  20. Development resources Diverse risk assessments ERP integration Monitor expiring data And then there’s IT… International capability Security and disaster recovery Real-time updates Enterprise access
  21. Gain - Investment Investment Gain = (expected losses – reduced losses) 1. Number of suppliers 2. Maturity of program 3. Technology infrastructure 4. Scope of implementation Questions to ask…
  22. Upcoming Webinar June 21 | 1 pm EDT Supplier & Vendor Prequalification From the contractor’s perspective A case study with
  23. QUESTIONS Calculate your ROI
  24. Contact us