Vendor Consolidation: Balancing Cost Savings with Supplier Diversity
Today’s organizations must manage their suppliers in a paradoxical way. On the one side, vendor consolidation offers simpler processes, increased pricing power, and efficiency. However, too drastic a supplier pool reduction can reduce diversity and resilience, stifle innovation, and increase vulnerability to hidden hazards. Businesses looking for long-term stability and financial discipline must strike a […]
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