I recently came across a case on cost reduction through vendor management. How will you go about structuring this case? Here is the excerpt of the case:
Your client is a wealth management firm. Various departments of your client organization require some data service and hence, each department signed individual contracts with the data vendor. The client doesn’t have a central vendor management function and hence, each department signed individual contracts. Recently, the client got to know that the vendor is the same for many departments, and the vendor is charging each department a different fee for potentially similar service (to be investigated). The client has hired you to investigate this issue with the objective to save cost. How will you go about structuring this problem? What specific questions will you ask the department representatives while investigating?
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