Vendor Management System (VMS) Guidelines Quiz

To standardize job titles across all vendors and locations.

To set a program maximum mark up rate and target bill rate by market for job titles. (correct)

To track the performance of temporary and subcontract workers.

To negotiate pay rates and mark-ups for each assignment individually.

The bill rate is the amount the staffing supplier invoices the MSP, which includes the pay rate plus a mark-up. (correct)

The pay rate and bill rate are the same.

The pay rate is determined by subtracting the MSP fee from the bill rate.

The pay rate is always higher than the bill rate.

To demonstrate the calculation of the MSP fee and the amount the staffing supplier receives. (correct)

To show how the staffing supplier calculates the pay rate for temporary and subcontract workers.

To provide an example of how to set target bill rates in the VMS.

To illustrate the process of negotiating bill rates between the staffing supplier and the MSP.

<p>To review and approve or decline bill rates proposed by staffing suppliers.</p> Signup and view all the answers

<p>To provide a guideline for target bill rates that staffing suppliers should aim for.</p> Signup and view all the answers

<p>To provide and maintain the agreed bill rate in the VMS.</p> Signup and view all the answers