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Call a top vendor in and tell them you want them to come to your office and bring ideas to your team on how to costs from their sales. To start, ask them for a list of the top 20 items you buy (80 to 90% of the dollars). Tell them you absolutely want to keep their business and know they will offer great ideas (i.e. off-brands, exchange within 90 or 180 days, discounts on volume shipments, buy-back programs for unused items, discounts for ordering early, etc.). Tell them to bring ideas on how to get these costs down over the next couple of months and ask if they can participate in that plan?
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