Vendor Empanelment Report
Vendor Empanelment Report
Vendor Empanelment Report
FOR
BY
GAYATRI SURYAWANSHI
MUMBAI - 400092
COLOURED copy OF THE INTERNSHIP CERTIFICATE GIVEN BY THE COMPANY
I can further attest that she has done a Very Good job in the performance of the enumerated duties
and responsibilities, and has always been very professional during her tenure. In addition, she
was always a responsible person and was highly commended by her superiors.
We wish her all the best in all her future endeavors.
Thanking You,
NEELAM DIDWANIA
DIRECTOR
Registered Office Address: 25, ever shine mall Ground floor, Mumbai-400064. Maharashtra. India.
Website: https://prishti2019.wixsite.com/mysite-1
CERTIFICATE
, under the guidance of Mr. / Ms. Chirag Didwania (name of the guide / mentor in your
organization).
I further certify that the said work has not been submitted either in part or in full, to any other
University.
Date:23/09/2023
hereby declare that the research work incorporated in the present project entitled.
“Vendor Empanelment ”
is our original work. This work (in part or in full) has not been submitted to any University for
the award or a degree or a Diploma. I have properly acknowledged the material collected from
secondary sources wherever required.
We solely own the responsibility for the originality of the entire content.
Date:
23/09/2023
I would like to thank Prishti Consultancy Services and Aditya Institute of Management
studies and Research for giving me an opportunity to learn and pursue my Summer Internship
and understand about (Human Resources) and Research aspects.
I would like to thank and express my sincere gratitude to Chirag Didwania (Your reporting
Boss). His / her constant encouragement, valuable insights and attention to detail had made this
exercise, a great learning experience.
I am also thankful to Dr. Vrittee Parikh (your super Boss) who contributed his / her valuable
time and gave valuable insights during the development of the project.
I am also thankful to Dr. Sunita Srivastava (Director, Aditya Institute of Management Studies
and Research) and my institution, for giving me an opportunity to undergo this learning
experience.
Last but not the least; I take pride in thanking my family, siblings and friends for their much valued
support.
Date: 23/09/2023
Gayatri Gajanan
suryawanshi
MMS
HR
91
TABLE OF CONTENTS
SR NO. PARTICULARS PAGE NO
1. WHAT IS VENDOR –EMPANELMENT
PROCESS
2 HR PRESPECTIVE IN VENDOR
EMPANELMENT
3.1
SERVICES THAT FALL UNDER VENDOR
EMPANELMENT
The globalization of supply chains and increased regulatory scrutiny in the late 20th and early21st
centuries led to a greater emphasis on compliance and risk management. Processes for Appointing
vendors have begun to include requirements for social responsibility, Environmental
responsibility, and ethical standards.
7. Online Vendor Portals:
The growth of the internet in recent years has prompted the development of online vendor Portals and
platforms. Suppliers can register, submit bids, and manage their interactions with Organizations fully
online thanks to these portals. As a result, procurement is now more Transparent and efficient.
8. Diversity and inclusion:
There is currently an emphasis on diversity and inclusion in procurement in many nations. In Order to
foster a more diverse supply chain, vendor empanelment procedures may include Requirements for
minority-, women or small-business ownership.
9. Supply chain Transparency:
Emerging technologies like Block chain are being investigated to improve supply chains' Traceability
and transparency. These technologies could help vendor empanelment by giving Immutable records of
supplier credentials and performance.
Time Efficiency:
Vendor empanelment helps speed up the process of hiring new employees. Vendors who are familiar
with the requirements and culture of the company can offer pre-screened employees, speeding up the
hiring process.
High-quality Candidates:
Empaneled vendors, particularly those with a track record of success, are driven to offer candidates of
the highest caliber in order to preserve their association with the business. Better hires and lower
turnover rates may result from this.
Accountability and compliance:
Empaneled providers are normally responsible for adhering to predetermined service levels and
compliance criteria. This guarantees that vendors follow the company's hiring guidelines and
regulatory requirements.
Market Insights:
Empaneled suppliers frequently have up-to-date knowledge of market trends, such as average salaries
and the availability of candidates. The strategy planning process for HR may benefit from this data.
varied Candidate Pool:
By collaborating with a varied collection of empaneled vendors, businesses can access a wider pool
of candidates, fostering inclusion and diversity in the workplace.
Focus on core competencies:
By outsourcing some hiring tasks to approved vendors, HR is able to devote more time and money to
other HR initiatives like employee growth and engagement.
Performance Metrics:
Empaneled vendors frequently offer performance metrics and reports, allowing HR to evaluate the
success of their recruitment partners and make fact-based choices.
Long-term Relationships:
Empanelment promotes long-term relationships with vendors, which builds trust and promotes a
deeper comprehension of the requirements and culture of the organization.
Based on its own HR requirements and strategic objectives, a business decides which specific sorts of
contractors to appoint. Organizations can improve their HR operations and support broader company
objectives by using specialist knowledge and services available through empanelment.
Payroll and Benefits Administrators:
These companies oversee processing payroll, managing benefits, and adhering to all applicable tax
and labor requirements. The appointment of payroll and benefits providers can simplify payroll
administration.
Compensation:
Employing firms that specialize in compensation and benefits planning can assist businesses in
creating and putting into place competitive pay structures and benefit plans.
Providers of employee wellness and engagement:
These businesses provide initiatives and solutions to enhance employee satisfaction, health, and
work-life balance. Empanelment can cover things like mental health assistance, employee surveys,
and wellness programs.
Screening companies:
Companies that do background checks on job applicants to confirm their credentials, criminal records,
and other pertinent information. Appointment of background screening companies aids in ensuring
thorough investigation of prospective hires.
Vendor Management Software Providers:
For businesses that work with several HR vendors, appointing vendor management software
providers can make managing vendor relationships, tracking their performance, and reporting on their
interactions easier.
Background screening:
the only service that some businesses may contract out; they may also appoint contractors to verify
applicants' employment histories and examine their references.
Providers of employee surveys and feedback:
These companies are experts at conducting employee polls, engagement surveys, and feedback
gathering to assist businesses in determining employee satisfaction and adjusting.
Choosing the ideal HR vendor for your company is the first step in becoming an effective vendor.
management. Selecting the best HR provider can seem time-consuming and tedious.
procedure if you don't fully understand the reasons for outsourcing because different.
managements would have divergent viewpoints. To help you identify the best HR vendors,
evaluate your HR needs and potential improvement areas.
Accessible communication:
Open and honest communication with your HR vendor could assist them better comprehend and
meet your company's needs. This does not necessarily include giving them access to private.
employee data or payroll records. Instead, let them know about any management changes or your
company's aims and ambitions. In order to make sure that your HR operations go smoothly, it is.
crucial to think about the kind of information that could assist your HR vendor in developing the
right solutions.
While cost is frequently a key issue in choosing an HR vendor, it shouldn't be the main decision
factor. Instead, HR professionals want to concentrate on the standard and worth of the services.
offered by HR providers. Additionally, the emphasis on cost should not be a justification for
frequently switching HR vendors to reduce expenses. This can lead to subpar service
delivery because it takes longer to explain the HR requirements to different providers each time.
Keep the links to your relationships:
The most crucial aspect of your relationship is without a doubt with your major provider. This
does not, however, imply that you should disregard the other HR vendors. Always be sure to stay
in touch with them to keep the relationship strong. This enables you to be informed about any
additional services they may offer if your HR requirements suddenly alter. When
you expand to a new country, for instance, you will require local payroll expertise, registration
with the statutory boards, and setup of your payroll processes. You can easily get in touch with
your vendor if your payroll is outsourced to a local payroll service. They can assist with the
payroll procedures in your new country, saving you time and ensuring your peace of mind.
Keep in mind that the HR vendor serves other clients in addition to you. These businesses
probably serve a number of clienteles, all of which have pressing requirements. To preserve the
finest relationship possible, it is crucial to comprehend things from their point of view. The
vendor may decide to discontinue providing you with their services if you are consistently
making excessive requests and negatively affecting their business, which could harm your
organization.
In the end, effective vendor management results from strong communication and ties between
the organization and the HR vendor. While HR practitioners must be upfront and honest about
their needs and requirements, HR vendors must query and highlight issues.
Supplier Onboarding:
HR streamlines the onboarding procedure for contracted contractors. Sharing the organization's
expectations, culture, values, and particular HR needs with the vendors falls under this category.
SLAs and performance indicators:
For the purpose of gauging vendor performance, HR sets up KPIs and SLAs. Performance is tracked
using these measures, which are specified in the contracts.
ongoing performance evaluation:
To make sure that vendors adhere to the established requirements, HR regularly audits their
performance. This could entail analyzing vendor reports, tracking KPIs, and conducting client surveys.
Relationship management and communication:
HR keeps lines of contact with approved vendors open and productive. Meetings are often held to
handle problems, debate concerns, and assure alignment with HR strategy.
Security and compliance for data:
HR makes ensuring that contractors handle candidate and business data in a way that complies with
data protection laws. Protocols for data security and privacy are established and maintained.
Cost Control:
To make sure vendors stick to agreed-upon pricing structures, HR regularly monitors expenses such as
service fees, recruitment charges, and other vendor-related costs. When necessary, cost optimization
may be negotiated.
Suggestions for Improvement:
HR welcomes input on vendor performance from hiring managers and other stakeholders. The
empanelment program is continuously improved and adjusted as a result of this feedback.
• Ecological Services:
Environmental advice Services for waste management and recycling
• Academic Services:
Services for training and development
Educational resources and materials
• Specialist Services:
Legal assistance
Auditing and accounting
Management advice
Human resources advisory
Advertisement and marketing
Financial Services:
Financial institution and banking services
Asset management and investment
• Medical Services:
Medical equipment and supplies
Services for hiring medical personnel.
Healthcare advice
Services in telecommunications:
Telephone and internet services
The acquisition and upkeep of telecommunications equipment
1. Qualification:
Vendors who have been flagged/considered by DIT as being unable to participate due to Prior
performance, corrupt, fraudulent, or any other unethical business practices are Not eligible.
2. Appointments forms:
Vendors must use the state portal to submit their application for empanelment.
3. The price of submitting a proposal:
The vendor is required to review all guidelines, forms, clauses, and requirements in the
Documentation. Regardless of the conduct or result of the bidding process, the vendor shall Incur all
costs related to the preparation and submission of its proposal, and DIT shall not be Liable for such
costs.
4. Documents for Empanelment should be made clearer.
Further clarification is provided, stating that DIT would not react to correspondence regarding Delays
or failure to receive clarity from DIT, The affected individual.
5. MAF:
Vendors who submit the MAF will receive preference. For the products to be empaneled, the Vendors
must upload a scanned copy of the Manufacturing Authorization Form (if applicable).
6. Review of Submissions:
Priority will be given to reviewing the vendor's provided documentation. Second, go to the Websites
of the vendors and/or set up meetings with their technical professionals to confirm the assertions
stated in the proposal material.
7. Notice of Empanelment:
The successful vendor will receive written confirmation from DIT that its application has been
Approved.
8. Unethical, dishonest, and corrupt behavior:
A "corrupt practice" is defined as the offering, giving, receiving, or soliciting of anything of Value to
sway a public official's decision throughout the contract execution process. "Fraudulent influence a
procurement process or the execution of a contract to the prejudice of the purchaser, including
collusive behavior among Vendors meant to set proposals at Artificially non-competitive levels and to
rob the Purchaser of the advantages of free and Open competition. If DIT finds that a vendor used
dishonest, fraudulent, or unethical tactics to compete for or carry out a contract, DIT will reject the
award proposal and may restrict the Vendor from submitting future proposals in DIT.
9. The blacklist:
DIT will put the vendor on a blacklist and forbid them for 5 years.
10. 24X7 Support:
Support for resolution of any issues pertaining to the products supplied by them. Vendors applying in
the category of Hardware, Networking and Other IT Products.
EMPLOYED AS AN HR IN PRISHTI CONSULTANCY IN THE RECRUITMENT
DEPARTMENT
EMPLOYED AS AN HR IN PRISHTI CONSULTANCY IN THE RECRUITMENT
DEPARTMENT
In order to achieve corporate goals, efficient vendor empanelment requires not only the
selection of vendors but also the management of these relationships. HR specialists with
these qualities and talents can make a substantial contribution to this process.
Continuous Learning:
Best practices for vendor management and the market for vendors are both continually changing. HR
experts should be dedicated to lifelong learning.
Resolution of Conflicts:
Since issues with vendor relationships occasionally arise, HR should be skilled at this. For a
partnership to be effective, it is critical that both parties negotiate and resolve problems.
Analytical Skills:
It is essential to have the capacity to evaluate vendor bids and contrast them side by side.
Considering the needs and goals of the firm, HR must evaluate vendor solutions.
Contract Management:
It's crucial to comprehend contract law and have expertise managing contracts. Vendor contracts
should be efficiently drafted, reviewed, and enforced by HR.
Vendor Evaluation Skills:
HR should be able to evaluate a vendor's skills, including financial security, level of expertise, track
record, and reputation. Due diligence and extensive background checks are required for this.
Pay Close Attention: Vendor empanelment requires a substantial amount of paperwork and
documentation. To make sure that all needs are met, and contracts are error-free, attention to
detail is essential.
Negotiation skills: HR professionals should possess strong negotiating abilities to obtain
advantageous terms and conditions in vendor contracts. Pricing, service standards, and
contractual obligations are all subject to negotiation.
Ethics:
HR professionals need to uphold moral principles and make sure that vendors are chosen fairly and
objectively.
Vendor Relationship Management:
It's important to establish and maintain a good rapport with your vendors. HR specialists should be
able to promote cooperation and trust between the business and its suppliers.
Technology Proficiency:
The vendor empanelment process can be streamlined by becoming familiar with vendor management
software and technologies.
Adaptability:
It's crucial to be able to adjust to shifting market conditions and the vendor environment. As new
suppliers and technology appear, HR should be willing to investigate them.
Time management:
When working with numerous providers and projects at once, effective time management is essential.
Project management:
Vendor empanelment occasionally stands alone as a project.
Keeping the process on track and achieving deadlines can be made easier with a project.
management expertise.
Legal Knowledge:
It's crucial to ensure that vendor contracts adhere to legal standards by
having a fundamental understanding of contract law and the pertinent laws.
Cultural Sensitivity:
Understanding international business procedures and demonstrating
Cultural sensitivity can be helpful when working with foreign vendors.
strategy Thinking:
HR personnel in charge of vendor empanelment should match the
company's overarching strategy goals and objectives with the vendor selection process.
Communication Skills:
When working with vendors, effective communication is essential. The requirements and
expectations of the organization must be communicated to vendors in a clear and open manner by HR
specialists.
Continuous Learning: Best practices for vendor management and the market for vendors
Vendor application :
Vendors interested in empanelment should submit their applications. These applications typically
include detailed information about their company, financial statements, references, and other relevant
documentation
Background checks :
Perform background checks on vendors, including checking their financial stability, legal history, and
any relevant compliance records. This step is essential to ensure that the vendors are reliable and
trustworthy.
Reference checks :
Contact the provided references to gather feedback on the vendors past performance .
Negotiation:
Contact the provided references to gather feedback on the vendors past performance, reliability and
reputation.
Vendor selection:
Based on evaluation, background checks, interviews, and negotiation outcomes, select the vendors
who best meet the company needs and criteria.
Empanelment agreement:
Draft and finalize an empanelment agreement or contract that outlines the terms, conditions, and
expectations for the vendor's performance. This agreement should also specify the duration of
empanelment.
Onboarding :
Once the vendors have been selected and the agreements are signed, initiate the onboarding process.
This includes providing necessary training, access to systems and tools, and ensuring they understand
the company's policies and procedures.
Renewal or termination:
After the initial empanelment period, evaluate whether to renew or terminate the vendor's contract
based on their performance and the company's changing needs.
Naresh Kumar
The goal of the study is to pinpoint the most effective strategies for print book
procurement in a few key primary areas in order to get the greatest deals and supplies
of ordered books, as well as to bargain with suppliers. libraries in universities in
northern India. The procedures for acquiring books at some libraries have been.
evaluated by online surveys. Additionally, websites and acquisition staff members were
contacted. were visited to learn more about the top institutions' book purchasing
strategies. To build information acquired from a sample of seven university databases,
combined files for analysis Microsoft Excel worksheets were used to enter, gather, and
summarize libraries. Five Universities are found to buy books from companies that
have empaneled status by defining the minimum and maximum book discounts.
Interest declarations are. more frequently used to make requests.
SECONDARY DATA
Obtaining credit reports from credit bureaus, to evaluate the vendors.
Creditworthiness and financial stability,
Market Research has been done to learn more about the market presence
Competitive positioning of the vendor, consulting databases, industry studies.
Evaluated the vendor's online reputation and client feedback, examined their websites,
social media accounts, and online reviews.
CONCLUSION
This judgment is crucial because it establishes which suppliers will be formally authorized or
empaneled to deliver goods or services to an organization.
Ensuring that all legal and compliance requirements are satisfied, including acquiring
any required permits, or certificates from the vendors.
Informing vendors frequently of any modifications to the organization's standards that
may have an impact on their relationship status, maintaining effective communication.
Considering empanelment as continuous activity, putting input in the company making
it effective.
The organization’s vendor management team decides whether vendors meet the
requirements for empanelment based on the data gathered during the process.
Empaneled suppliers’ proper official paperwork for the empanelment agreement, as
well as any legal obligations need to follow for documentation.
The terms should be negotiated for contract between the organization and the vendor
by bringing the costs, delivery dates, quality requirements, and other crucial contractual
information.
Including monitoring key performance indicators verifying adherence to the terms set
forth, and resolving any problems that may arise.
Onboarding vendors must be integrated into the organization's procedures and systems.
For vendors adhering to the organization's requirements and can deliver trustworthy
goods or services, it entails meticulous vendor evaluation, selection, and
documentation. Making sure the organization's demands, maintaining strong vendor
partnerships are constantly satisfied.
Apart from that, there are several benefits to outsourcing the employees, like a
specialized team, no sick days, 24/7 assistance, and much more.
Due to its advantages in terms of cost, efficiency, and transparency, many enterprises
have changed their foundations to a vendor management system.
The administration of a difficult recruitment process is more manageable thanks to the
use of VMS.
LIMITATIONS
It has some restrictions and difficulties, just like any business process. Some typical restrictions on
vendor empanelment:
The vendor process takes lot of time, particularly when gathering data from various.
suppliers. The market was impacted by this delay in vendor selection and onboarding.
Requirements are inflexible, making it difficult shifting corporate demands. This makes rigid
business to react swiftly to problems.
Operations affected if one of these vendors has problems due to dependency on empaneled
vendors.
Organizations make sure vendor data protection policies are in place so as to reduce security
risks.
Excluding specialized providers who provide creative solutions for cost reductions.
organization have access to a modest pool.
The cost of managing resources involves including staff, technology, and written.
materials.
Giving preference to vendors with a track record of success rather than fresher in business.
The procedure can be expensive although the goal of vendor empanelment is to find.