Evaluate the pricing structures and terms of vendor contracts. Breakdown tariff's and compare to real cost drivers. Identify any pricing inconsistencies, discrepancies, or areas where rates are significantly higher compared to competitive offerings.
Analytics to compare pricing offered by vendors with historical costs and competitor rates. This analysis helps identify opportunities for cost reduction by negotiating better rates or exploring alternative vendors with more competitive pricing.
Continuously monitor and review vendor performance and pricing to ensure ongoing cost optimization. Regularly reassess vendor contracts and pricing structures to adapt to market changes, industry trends, and evolving business needs.
