We’ve published the latest example of Vested in practice, a case study describing how Telia – a Swedish telecom company – applied the Request for Partner process to get to a Vested agreement with Veolia, one of its long-time suppliers.
Simply put, Vested helped them go from a supplier-buyer relationship to a true strategic partnership.
Telia had to decide which of its 20 suppliers would be the best fit to make the shift to a Vested model. The University of Tennessee’s Request for Partner process was the solution. The RFPartner process is a highly collaborative competitive bidding process. It is used when a buyer is seeking not just a strategic solution from a supplier but also the ability to assess multiple providers’ cultures, mindsets, and willingness to engage in a collaborative relational contract. A key purpose is to select a “best-fit” supplier in order to create a highly collaborative environment where cultural fit and a win-win mindset are essential to managing an outcome-based buyer-supplier partnership.
The case study shows how the RFPartner process worked.
And if you are an educator, you can request the full teaching case study by contacting me at [email protected].