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Customer-Driven Budgeting by Floyd Talbot

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Appendix C

Major Vendor Management Best Practices and Policies

Vendor management places you in the driver’s seat and provides a competitive edge with exercise over quality, innovation, pricing, and customer delivery. Vendor evaluation and selection is essential for effective budget management and maximizing growth and profits. Vendor management ensures successful performance in your business supply chain. Certain best practices will allow you to establish effective and efficient processes to curtail costs, obtain timely delivery of goods and services, ensure quality, and manage optimal terms.

Outsourcing Practices

Outsourcing is an essential part of reducing costs and improving productivity. Conducting evaluations of your vendors during the ...

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