If you’ve been hearing about vendor consolidation, you may be asking if it could benefit your business. It can. Here’s how.
What is vendor consolidation?
Vendor consolidation is a supply chain management strategy that involves reducing your vendor base to a few select partners. It’s an overall cost-reduction approach that relies on economies of scale to trim prices, lower incoming freight costs, improve quality, strengthen supply agreements, and enhance vendor acquisition.
What does vendor consolidation do for your business?
Vendor consolidation shrinks your supply chain management costs.