From the course: Focusing on the Bottom Line as an Employee
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Working with suppliers
From the course: Focusing on the Bottom Line as an Employee
Working with suppliers
- Generally speaking, the most successful companies are laser focused on being at the best at delivering a defined set of products or services. That core competency helps to define the company's goals, plans, and objectives. But there are still things that the company needs to do, like running payroll, buying paper, keeping coffee hot, and keeping the lights on. These functions either fall to employees to manage, or more often these days are outsourced to third parties. Now, even if these responsibilities fall outside of your job scope, it's important you know best practices for dealing with third parties, because this could help you in the long run. Outside suppliers can be a huge strategic opportunity for companies. By leveraging the expertise of these suppliers, companies can gain efficiencies, cost reductions, or improved services. So when your company is looking to hire an outside contractor or manage an existing supplier, a number of things are critical. First off, define their…
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