Do You Have WIIFW Partnerships With Your Suppliers?

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Kate Vitasek shared the Vested® model, of deep collaboration, developed at the University of Tennessee during Presidents Conference 2013. Vested is a mindset of focusing on what's in it for "we" instead of what's in it for me; is a methodology and rules; and is a movement where companies play a different game by adopting new habits and business models. When done right, like at companies such as McDonald's, Vested grows the pie for all participants and helps all parties reach their most significant goals.

Key Takeaways

Vested is a mindset of being in it together.

Companies throw around the term "strategic partner." Yet, most don't treat these supposed strategic partners any differently from their other suppliers. They focus on price, can terminate a relationship in 30 days, and don't share information, risks, or rewards.  A common result is a tug-of-war between buyers and suppliers. Buyers exert power through RFPs and the threat of competition; suppliers focus on innovation and patents. Both parties typically have a mindset of WIIFM-what's in it for me.

Login to view "Vested Outsourcing." This summary and the entire series is exclusively available to IFMA members only. 

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Other Executive Summaries from Presidents Conference 2013:

Bottom Line Branding™: Creating Demand and Driving Profitable Sales in Today's Changing World

Operator/Manufacturer Collaboration Model & FSNavigator 

Industry-Wide Initiatives Changing The Face Of Foodservice

Jack Li On "The New Foodservice Landscape"

Make Sense Out of the Complexities of Foodservice

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 About the Presidents Conference Executive Summary Sponsor

Noble is a full-service food marketing agency that has provided thought leadership in the foodservice industry for five decades by understanding what makes people tick, grabbing their attention, piquing their appetites, and tugging at their heart strings-at home and away-with insight driven ideas that connect. For more information, visit Noble's website.

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