Purchasing organizations that focus on negotiating the lowest possible price are no longer doing enough for their customers.

Customers now demand more—they need business advice, guidance, and expertise to manage their sourcing requirements. They need an organization that focuses less on price and more on the value that vendors could provide. They need an organization that is focused on total cost of ownership and the entire vendor relationship lifecycle.

The organizational key to unleashing the potential of strategic sourcing is the Vendor Management Office or "VMO." It is an over-arching organizational concept of strategically managing procurements and vendors to maximize business investments in key commodities—while at the same time minimizing business risk.

For a comprehensive overview of this powerful organizational concept and how to implement a VMO in your organization--or if you're interested in vendor management as a career--be sure to get the book, “The Vendor Management Office: Unleashing the Power of Strategic Sourcing,” available here or on Amazon.com.

Mr. Guth's handbook on negotiation ploys and tactics, a must-have for purchasing professionals, is available here or on Amazon.com. More information on these books can be found elsewhere on the Vendor Management Office website.

For the latest on purchasing, contracting, and vendor management topics, be sure to visit the VMO Blog. Make your opinions known!

This website is dedicated to furthering the concept of the Vendor Management Office. Comments or questions can be e-mailed to stephenguth@vendormanagementoffice.com