#vendor rationalization

when does vendor rationalization make sense in 2024?

You go to two different grocery stores – Store A and Store B. Which product do you buy? Store A Store B Beyond price, which one of the two provides the best value? Now, how would you respond if you were told that you could only buy from Store B because they are a preferred store? Vendor Irrationalization Before answering that question, read the following excerpt from an April 2009 paper,…

What is supplier discovery without the blah-blah-blah.

How important is supplier discovery to your company? Your answer will determine whether you Should register for this webinar or MUST register for this webinar. Before you answer – a little background information will help: In 2018, an Institute for Supply Management article by Dan Zeiger wrote – “The old 80-20 rule — 80 percent of a company’s spend among the top 20 percent of its suppliers — is…

Are AI Chatbots the game changer procurement has been waiting for? Can it really handle 90 percent of everyday procurement work?

As you read the title of today’s post, you may wonder what maverick spend, vendor rationalization and change management have to do with user adoption and AI Chatbots. The simple answer is the end of maverick spend, vendor rationalization, and change management. “So it’s [Merlin Assist Chatbot] is not just for information or for query. It can do everything from say initiation of, let’s say, a…