1. Improve your vendor relationships.
2. Develop a scorecard for keeping track of vendors’ service.
3. Obtaining the right information = right sizing your vendor list and vendor costs.
4. Create a purchasing staff with the following characteristics.
Analytical - Ability to work in other parts of the organization (Sales, operations, finance) - Business knowledge - Compliance to policies - Legal knowledge - Great negotiation skills.
5. Get the executive team behind purchasing 100%
6. Enforce a preferred vendor list
7. Structure centrally led, but locally implemented teams
8. Develop strong negotiation skills
9. Use technology to propel yourself ahead of your competition
10. Design an incentive program that actually profits the individual and the company
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