Purpose: Establish communication and learn about the vendor's offerings and capabilities.

Action: Vendors submit an introductory packet that includes:

• Company profile and background

• Overview of services/products offered

• Previous experience and relevant case studies

• Client references and testimonials

• Certifications, licenses, or any relevant credentials

Purpose: Assess the vendor's capability to meet M23 Media Agency’s requirements in terms of quality, reliability, and compliance.

Action:

• Internal review of vendor materials (financials, legal standing, past performance, etc.)

• Perform a risk assessment, including evaluating financial stability, operational capacity, and adherence to industry standards.

• Conduct background checks as needed (including legal and compliance verification).

• Schedule a meeting or call to discuss business objectives, pricing structure, and delivery capabilities.

Purpose: Establish clear terms and conditions that govern the working relationship between M23 Media Agency and the vendor.

Action:

• Negotiate and finalize the contractual terms, including:

  • Pricing models, payment terms, and invoicing procedures

  • Quality and performance metrics

  • Delivery timelines and logistics

  • Confidentiality and intellectual property protection

  • Compliance with local, regional, and international regulations

• Both parties sign the contract and agree on KPIs and expectations.

Purpose: Ensure seamless integration of the vendor into our procurement and project management systems.

Action:

• Provide vendor access to the M23 Media Agency's procurement platform or any relevant communication systems (e.g., SAP, vendor portal, etc.)

• Set up vendor profiles in our database, including all necessary details (contact info, payment terms, etc.).

• Introduce the vendor to key internal teams (e.g., sourcing, procurement, legal, logistics).

• Provide vendor with training and documentation on M23’s processes, systems, and expectations.

Purpose: Test the vendor’s ability to deliver on promises and meet the required standards.

Action:

• Assign the vendor an initial trial project or smaller scope of work.

• Monitor performance based on agreed-upon KPIs and benchmarks.

• Provide feedback and request any adjustments, if necessary.

• Ensure that the vendor can meet deadlines and quality standards before expanding the partnership.

Purpose: Formalize the long-term partnership and maintain an ongoing, productive relationship.

Action:

• Once the trial period is successful, expand the vendor’s role and begin integrating them into broader projects.

• Schedule regular performance reviews (quarterly or bi-annually) to assess delivery, quality, pricing, and overall satisfaction.

• Maintain open communication channels to address any issues promptly and ensure continuous improvement.

• Track vendor performance and conduct annual reviews, adjusting terms or renegotiating contracts as necessary.

Purpose: Foster continuous collaboration and ensure the ongoing success of the partnership.

Action:

• Implement regular check-ins and feedback sessions to ensure that both M23 Media Agency and the vendor are meeting mutual goals.

• Use performance metrics to identify areas of improvement and work together to implement corrective actions.

• Encourage innovation, suggesting opportunities for collaboration or process improvements.