Product Description
Negotiating the lowest possible price is no longer enough. Internal customers now demand more: they need business advice, guidance, and expertise to manage their sourcing requirements. They need an organization that focuses less on price and more on the value that vendors can provide. The organizational key to unleash the potential of strategic sourcing is the Vendor Management Office. It is an over-arching organizational concept of strategically managing procurements and vendors to maximize business investments in key commodities. Resulting from over 10 years of real-life experience implementing VMOs, this book introduces the concept of a VMO and the VMO philosophy that cost is not always a factor. The book is much more than conceptual: concrete and practical tools considered necessary to launch a newly formed VMO are explored in detail. Additionally, appendices contain materials that can be easily adapted for use by any VMO.
About the Author
Stephen R. Guth, Esq. has provided negotiation services, as both a customer and a vendor, to multi-national companies such as Ryder System, Dell Computer, and Aflac Insurance. He has implemented ground-up VMOs at Ryder System, Aflac Insurance, and the National Rural Electric Cooperative Association. He has been featured in CIO Magazine for his concept of vendor relationship management and he has authored articles on contract negotiations and patent law. He is a graduate of the University of Miami School of Law, received a Masters from George Washington University Commercial Contract Management Program, and is a summa cum laude graduate of Saint Leo University. Mr. Guth holds the following certifications: Certified Purchasing Manager, Certified Technology Procurement Executive, Certified Commercial Contract Manager, and Fellow of the Life Management Institute. Mr. Guth also served in the military under the United States Special Operations Command. Mr. Guth is a frequent speaker at purchasing-related industry events, and also provides training on various topics in purchasing.
