This SIG member from a financial services institution is looking for examples and guidance for contract language requiring suppliers to contribute actions and ideas that reduce our company's costs. If a supplier can do this consistently and effectively over time, there would be less need to rebid business, which takes considerable time and effort for both parties. Moreover, they are seeking recommendations for measuring these efforts on a regular (e.g. quarterly) basis. In return, suppliers will (or should) gain a deeper foothold as a loyal and valued service partner versus just another purveyor of goods and services.
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This SIG member from a financial services institution is looking for examples and guidance for contract language requiring suppliers to contribute actions and ideas that reduce our company's costs. If a supplier can do this consistently and effectively over time, there would be less need to rebid business, which takes considerable time and effort for both parties. Moreover, they are seeking recommendations for measuring these efforts on a regular (e.g. quarterly) basis. In return, suppliers will (or should) gain a deeper foothold as a loyal and valued service partner versus just another purveyor of goods and services.
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