Here at Spend Matters, we strongly believe that procurement practitioners should continually strive to broaden their own procurement knowledge (and thus that of their workplaces). What better way to do so than to see what others out there are doing? Today, we welcome a call for survey respondents from Brian Miller, VP of Services at Intesource, an e-Sourcing company that specializes in the retail, grocery, restaurant and healthcare industries.
Have you ever wonder how low a supplier will go on price, or other terms? Or worried your peers and competitors are getting a better deal?
Even for sourcing professionals, entering contract negotiations with a supplier can feel like haggling with a car salesman. When it comes to securing low bids and top value, there is a magic number that will still represent good business for the supplier, but most buyers can only guess what it is.
Of course, every category is unique. Yet we've seen incumbent suppliers drop their price nearly in half once a competitive playing field is created.
Choosing a supplier on price alone can lead to long-term challenges. But I'll argue that every CFO would prefer to factor true price ranges into the sourcing process.
We're looking to create some data around sourcing habits in the industry. If you take five minutes to participate, we'll be happy to share the benchmark report with you.
Take the survey here, and thank you for your participation.
- Brian Miller, VP of Services, Intesource