Supplier Rationalization

Supplier rationalization is the process of evaluating and streamlining a company's suppliers to improve efficiency and reduce costs. It involves analyzing the performance, reliability, and capabilities of each supplier to determine which ones add the most value. By consolidating suppliers or focusing on those who meet specific criteria, companies can strengthen relationships, negotiate better deals, and simplify their supply chain. This focused approach ultimately helps organizations enhance their procurement strategies, improve quality, and achieve greater operational efficiency.