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Implementation of Preferred Supplier Program

Success story - snapshot

Industry: Healthcare Company

Service: Strategic Meetings Management


  • Developed preferred supplier strategy to maximize savings and contracting efficiency
  • Targeted specific suppliers and brands to ensure fit for a wide breadth of meeting sizes and complexity
  • 3 selected suppliers
  • USD 2.1M+ in Year One savings


  • Recommended expanding preferred supplier strategy from transient-only to ensure large global healthcare client maximizes cost savings and contracting efficiencies for all travel
  • Developed competitive proprietary RFP, in partnership with client, to focus on targeted M&E pain points and priorities
  • Critical success factors:
    • Pre-negotiated terms and conditions
    • Speed to contract
    • Competitive discounts and savings


  • After approximately one year of negotiations, 3 suppliers selected for 2-year agreements based on offer and portfolio variety
  • Deployed thoughtful supplier management to ensure client’s position protected
  • Provide ongoing reporting of results through bi-annual supplier meetings and client Quarterly Business Reviews
  • Develop stakeholder engagement through training and quarterly preferred supplier showcases on topics chosen by suppliers, including new openings, initiatives, etc.


  • Since implementation in late Fall 2021, achieved USD 2.1M+ in savings for 2022-2024 programs
  • Simple exhibits finalize venue contracts as MSAs replace large client addendums to ensure acceptance of key T&Cs
  • As approximately 80% of current meetings are lower complexities with short lead times, each supplier includes ideal options for quick-turn meetings
  • With current sellers’ market and staffing challenges, negotiated discounts and ability to contract quickly have resulted in bigger impact than anticipated; agreements may be auto-renewed from previous in-person event

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