There's an old adage that you get what you pay for. People in the purchasing profession have focused too much on price, walking over dollars to pick up pennies. My philosophy, and that of the Vendor Management Office concept, is to get what you pay for.
Washington, D.C. (PRWEB) December 20, 2007
In the first ever book on the subject, author Stephen Guth has revealed the emerging organizational concept of the Vendor Management Office, which turns traditional purchasing concepts on their head.
While buyers have traditionally focused on price, Mr. Guth has turned things upside down by claiming that price does not matter. Mr. Guth says: "There's an old adage that you get what you pay for. People in the purchasing profession have focused too much on price, walking over dollars to pick up pennies. My philosophy, and that of the Vendor Management Office concept, is to get what you pay for."
In his book "The Vendor Management Office: Unleashing the Power of Strategic Sourcing," Mr. Guth points out that negotiating the lowest possible price is no longer enough. Internal customers demand more--they need business advice, guidance, and expertise to manage their sourcing requirements. The organizational key to unleashing the potential of strategic sourcing is the Vendor Management Office, an over-arching organizational concept of strategically managing procurements and vendors to maximize business investments in key commodities.
Resulting from over 10 years of Mr. Guth's real-life experience implementing Vendor Management Offices or "VMOs" at well known companies, the book introduces the concept of a VMO, describes how to sell the VMO concept to stakeholders, and offers practical tools necessary to successfully launch a VMO.
This recent book by Guth can be found at http://www.lulu.com/content/1346743.
Guth is also the author of "The Contract Negotiation Handbook: An Indispensable Guide for Contract Professionals." Information on these books and other publications by Guth can be found at http://www.vendormanagementoffice.com. Guth also moderates a blog at http://www.vmo-blog.com , covering a wide variety of negotiation, contracting, and purchasing topics.
Stephen R. Guth, Esq. is the Executive Director of the Vendor Management Office at the National Rural Electric Cooperative Association located in Arlington, Virginia. He has provided negotiation services, from both sides of the negotiation table, to numerous multi-national companies. Mr. Guth is a graduate of the University of Miami School of Law, received a Master's from George Washington University's Commercial Contract Management Program, and is a summa cum laude graduate of Saint Leo University. He holds the following certifications: Certified Purchasing Manager, Certified Technology Procurement Executive, and Certified Commercial Contract Manager.
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