Vendor Management : Key to successful event
Vendor management is the process that empowers an organization to take appropriate measures for controlling cost, reducing potential risks related to vendors, ensuring excellent service deliverability and deriving value from vendors in the long-run. Any event organization cannot grow if the company does not have a strong vendor relationship as one of its core strategies.
Businesses cannot grow in a vacuum. They grow together, learning to leverage the resources that each brings to the table. As partners far too often, we believe vendors owe us something. In fact, we owe them far more than they owe us. We all sell lots of things. We need vendors to grow because no one is an island. An organization that maximizes its vendor relationship are Go-Givers who give more in value than they expect to receive. In return, they often receive their vendors’ loyalty and find themselves blessed in return.
It is never easy to manage multiple vendors at the same time. While some vendors may prove really fruitful, others may not. But managing relationship among the vendors is the key to successful project completion. Those who understand the value of relationships and make the effort to connect they grow their companies.
- 27 Sep 20