How we saved our client $1.6M in supplier spend with our Master Vendor Program

Whether you’re shopping for a sophisticated dress, trendy accessories or chic lounge wear, this company has you dressed for every occasion, every step of the way. They needed a master vendor who could provide improved visibility, centralized supplier management and cost control for all client locations.

A Collaborative Approach

We worked closely with our client’s procurement, human resources (HR), finance and talent acquisition (TA) teams to achieve the needs of the program. We placed an onsite manager at their New York City headquarters, who served as a central point of contact and worked with our client to achieve the following:

• Implement new processes to improve quality and control spend
• Rationalize and reduce suppliers to increase cost savings
• Engage our headquarters’ partners to implement invoicing and purchase order (PO) management processes
• Transition payrolled employees from an underperforming vendor
• Manage 1099 qualification
• Ensure compliance for partners and associates

We worked with our client’s HR and TA teams to design reports to meet business needs. We implemented a monthly reporting dashboard and conducted quarterly business reviews (QBRs) to collaborate on program implementations, celebrate ongoing successes and forecast for future needs.

Massive Results:

Our master vendor program (MVP) with vendor management system (VMS) technology was just their style; by providing program visibility and controlling costs for their contingent labor, we achieved the following:

• 100% fill rate for all positions; approximately 84% of positions were creative skill sets
• 40% reduction in overall payroll spend through a 20% reduction in number of payrolled associates
• $1.6M reduction in supplier spend
• Continuously improved processes and program management through feedback from QBRs

Today, we fill 100% of all contingent labor requests for this client across multiple states and brands, and are considered a pipeline of talent for their open requisitions. We have become a valued and trusted partner due to our levels of customer service, dedication to managing their program, market knowledge, industry reputation and the quality of talent we provide.

For more information about how we can service all of your contingent labor requests, contact us here.