Navigating Vendor Spend Management and Negotiations in Procurement

The chapter explores the intricacies of managing vendor spend, conducting audits to uncover overcharges, and navigating negotiations with suppliers. It emphasizes the importance of aligning internal forces, utilizing external resources, and fostering solidarity in procurement decisions to combat anti-competitive terms. The discussion also touches on the challenges faced by service procurement professionals amidst inflation conversations and the strategic implications of suppliers pushing for price increases.