5 Ways Multiple Vendors Can Hurt Your Business
The Key Takeaway:
Total cost of ownership is a lot more than just price.
The Deeper Discussion:
Governance and managing multiple providers, who often have little to do with each other outside of the common customer, can be challenging.
The use of multiple suppliers often results in complex supplier portfolios, which creates challenges for buyers to manage and optimize. In response to these challenges, leading buyers rationalize the number of suppliers in their portfolio.
The truth is many people expend any and all resources necessary to build the idea and then proceed to fall apart at execution. Most bargain shop or worse wait until the last minute to produce. Why do you work with who you work with on these projects?
In today's environment in a few minutes you can find a random vendor online who is cheaper than the other random vendors online.