Is It Time to Change Vendors?

This is really great insight coming from a former CFO of UPS about how the logic of changing suppliers. Organizations often struggle on how to determine when to make changes with current suppliers. This article definitely provides tremendous insight how to make that determination.

Longitudes

As chief financial officers move beyond traditional roles, many are finding that vendor selection is becoming an important part of their expanded duties. When deciding which vendors are the right fit, CFOs should distinguish between those who simply supply a product or service and those who have the ability to challenge and collaborate in ways that make us and our companies stronger.

When is the right time to change vendors, and what is the best way to go about it? Those are extremely important questions that take on strategic significance and can have serious consequences.

[pullquote align=right]”Acceptable” is not good enough to meet the aggressive goals and objectives of most companies today.[/pullquote]It’s easy to become comfortable with vendor relationships, especially those that have existed for a number of years and where the service and results delivered are fully acceptable. But acceptable is not good enough to meet the aggressive goals…

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