Day 1: May 4, 2020 Procurement Transformation For A 2020 Economy
Tuesday, January 1st, 2019
Maybe market conditions changed; maybe you got a directive from higher-ups to save more money; either way, you have to renegotiate while already in contract. How much can you reasonably ask for? Though it can be uncomfortable to raise this with a dedicated partner, there are multiple areas where you can focus, from direct cost reductions to rebates to presenting new opportunities directly to you.
•Learn from past cases of rationalizing the number of suppliers and winning cost reductions for new lines of business
•Convey the value of coming across as flexible and committed
•Benchmark the marketplace to make sure the original terms are still competitive, and not relying on outdated or unnecessarily labor-intensive plans