As the economy has experienced dramatic shifts in the past few years, there’s an increasing need for managers to pay closer attention to their organization’s vendor pool. The situation can be compared to the classic card game, Go Fish. In Go Fish, five to seven cards are dealt to each player, and the remaining cards are shared between the players, usually sprawled out in a “pool” or “draw pile.” The object of the game is to collect four cards of the same rank called “books.” The player with the most card books at the end of the game wins.

Now let’s say a stipulation was added that players were prohibited from selecting cards from the draw pile. How successful would either of the players be in the long-run? The players would have a low chance of long-term success with no mechanism for discovering new cards and developing a more promising and valuable hand. Like a game of playing cards, discovering, developing, and growing vendors requires a management process that ensures growth, sustainability, and increased competitiveness.

Recently we have had the opportunity to help one of our clients discover new cards and develop a more promising vendor pool. The client benefited from our extensive experience within the IT sector as it relates to establishing fair market rates and a robust network, as well as cost saving initiatives. Using our dotStaff technology we were able to add to their “pool” and introduced a competitive landscape of quality vendors. This solution eliminated frequent candidate shortages, introduced more competition for the organization’s business, and provided longer than 6 month rate reductions. In enhancing candidate choice, our solution has ensured the organization can obtain the best rate from the best qualified vendor.

Are you currently working with a promising “hand” right now?