Latest / The Buyer's Side with Fexingo: Procurement, Sourcing, and B2B Purchasing Decisions
How One Buyer Used Supplier Awards to Cut Costs 15 Percent
In episode 118, Lucas and Luna explore how a mid-size manufacturer used a structured supplier awards program to reduce costs by 15 percent while improving delivery performance. They break down the specific criteria, the prize structure, and the behavioral economics behind why recognition drives supplier behavior more effectively than penalties. The episode centers on a real case from a Tier 1 automotive parts supplier in Ohio, showing how they measured supplier performance publicly, awarded a 'Supplier of the Year' trophy, and saw a 6 percent price drop in year two. The hosts…
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