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Tactically, vendor stewardship redefines how to position the vendor relationships in a more collaborative fashion, while simultaneously reaching improved levels of service and reduced cost. Other tactical benefits may include:
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- Getting contracts with SOWs (Statements of Work), SLAs (Service Level Agreements) and other key performance metric documentation.
- Building in future competitive rate and business downturn protections.
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Strategically, vendor stewardship delivers many elements of corporate sourcing (a system where divisions of companies coordinate the procurement and distribution of materials, parts, equipment and supplies for the organization. This is a supply chain, purchasing/procurement and inventory function that enables bulk discounting, auditing and Sarbanes-Oxley compliance. (Reference Wikipedia) to the SMB space.[/ultimate_heading][ultimate_heading heading_tag=”p” main_heading_color=”#c9c9c9″ alignment=”left” sub_heading_font_size=”desktop:12px;” sub_heading_margin=”margin-top:60px;”]© 2020 Paradigm Consulting LLC. All Rights Reserved.[/ultimate_heading]