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As the buying group purchasing program becomes firmly established, there are some additional steps that can be taken that will further reduce acquisition costs to its membership.
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THE FOURTH INSTALMENT OF “HARNESSING THE POWER” At the beginning, the group probably feels like the proverbial mosquito in a nudist colony and wondering, “where do I begin.” A good starting point would be to do an analysis of the purchasing patterns of the group to see where it is. It would be wise to…
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THE THIRD INSTALMENT OF “HARNESSING THE POWER” Once a group is poised to deliver its prized purchasing volume to those vendors who are privileged to be selected, it should develop a format to solicit proposals from the vendors. The group should have its own vendor proposal form that it requires each vendor to complete and…
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In order to win meaningful concessions from the vendor, the group must give them something they don’t already have. They must be able to deliver significant additional volume to them.
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INTRODUCTION On a previous vacation, my wife and I visited the Niagara Falls. We went to the foot of the Falls on a tour boat and witnessed their awesome power and majesty. They hit the bottom with so much force that they produced a perpetual mist around the bottom requiring all of the people on…
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Without question, marks used by a business to identify either its services (service marks) or its goods (trademarks) can be among its most valuable assets. Ironically, like goodwill, value is seldom listed on the balance sheet of a business in connection with its marks. Nevertheless, the service marks and trademarks of a business are very…
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