Procurement Terms
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Supplier Consolidation is a procurement strategy that can be used to simplify an organizations supplier base that can reduce the supply chain risk exposure of an organization whilst improving the ability to reduce the costs of a particular good or service. For example, reducing 10 suppliers providing the same or similar services into 2 suppliers can reduce the risk and increase the economies of scale to reduce the overall service cost.
Specialism:
Category Management
Negotiation
Risk Management
Sourcing
Supplier Management
Related terms: