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The Vendor Management Office: Unleashing the Power of Strategic Sourcing
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Negotiating the lowest possible price is no longer enough. Internal customers now demand more: they need business advice, guidance, and expertise to manage their sourcing requirements. They need an organization that focuses less on price and more on the value that vendors can provide. The organizational key to unleash the potential of strategic sourcing is the Vendor Management Office. It is an over-arching organizational concept of strategically managing procurements and vendors to maximize business investments in key commodities. Resulting from over 10 years of real-life experience implementing VMOs, this book introduces the concept of a VMO and the VMO philosophy that cost is not always a factor. The book is much more than conceptual: concrete and practical tools considered necessary to launch a newly formed VMO are explored in detail. Additionally, appendices contain materials that can be easily adapted for use by any VMO.
DESCRIPTION:
Binding: Perfect Paperback
Dewey Decimal Number: 658
EAN: 9781435703834
ISBN: 1435703839
Label: Lulu Press, Inc.
Manufacturer: Lulu Press, Inc.
Number Of Items: 1
Number Of Pages: 136
Publication Date: 2007-11-17
Publisher: Lulu Press, Inc.
Release Date: 2007-11-17
Studio: Lulu Press, Inc.
SIMILAR ITEMS:
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• Supplier Evaluation & Performance Excellence
• Spend Analysis: The window into strategic sourcing
• The Black Book of Outsourcing: How to Manage the Changes, Challenges, and Opportunities
• Strategic Sourcing - Suppliers are from Mars, Customers are from Venus
CUSTOMER REVIEWS:
Customer Rating:
Summary: Great Guide for Strategic Sourcing
Comment: As a procurement professional that practices day-in and day-out, I can say with confidence that this book will provide the reader with tremendously valuable information. Learn vendor tricks and how to respond to them with some tricks of your own. The author, Stephen Guth, also did a great job of weaving in some humor to keep things light and interesting. I highly recommend this book to any procurement or contract professional out there.
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Summary: Great "How To" with Rationale Attached
Comment: This is a great read for anyone interested in becoming a part of a VMO, improving a VMO, selling the business on the need for a VMO or working better with a VMO during the life of a contract.
Customer Rating:
Summary: Great Concept, Great Book
Comment:
I have worked with the author, Stephen Guth, and I can say for a fact that his Vendor Management Office concept works. His main objective is to drive value-add from vendors, and cost savings are much lower on the priority scale. However, in the process, I have witnessed him negotiate big savings. Even better, both parties feel like the deal was fair and equitable. Ultimately, the vendor is comitted to making the relationship work and delivers. Whether you're familiar with the VMO concept or not, this is a great book with actionable steps that you can take to create or refine a VMO. There's really no fluff in the book, but Stephen does take some shots at traditional purchasing departments, so that makes the book a little on the controversial side.
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