In the first ever book on the subject, author Stephen Guth has revealed the emerging organizational concept of the Vendor Management Office, which turns traditional purchasing concepts on their head.
While buyers have traditionally focused on price, Mr. Guth has turned things upside down by claiming that price does not matter. Mr. Guth says: “There’s an old adage that you get what you pay for. People in the purchasing profession have focused too much on price, walking over dollars to pick up pennies. My philosophy, and that of the Vendor Management Office concept, is to get what you pay for.”