OKR template to secure optimal pricing from third-party vendors
Your OKR template
Several initiatives are in place to achieve this, including starting price and term negotiations with potential vendors, researching the market for cheaper vendors, and initiating preliminary discussions. All these activities are dedicated to ensuring the company secures the best possible cost from third-party vendors, contributing to overall savings and profitability.
The second objective is to put in place a cost monitoring system that provides real-time tracking of vendor pricing. This involves kick starting the implementation of this system, researching and deciding on an appropriate software, and educating staff members on how to utilize this system effectively.
The third objective is dedicated to renegotiating arrangements with five existing vendors with the goal of lowering costs by 10%. Initiatives here will involve reviewing current contracts, presenting data-supported arguments for cost reduction, and setting up negotiation meetings with each vendor.
ObjectiveSecure optimal pricing from third-party vendors
KRIdentify and initiate discussions with 3 new lower-cost vendors
Kickstart negotiations around cost and terms with each potential vendor- Research and list potential lower-cost vendors in marketplace
- Reach out to each vendor for initial consultation or pitch
- KRImplement cost monitoring system for real-time tracking of vendor pricing
- Initiate real-time tracking of vendor pricing
- Research and choose suitable cost monitoring software
- Train staff on using the software for price tracking
- KRNegotiate with 5 existing vendors to lower costs by 10%
- Identify and review current contracts with the five existing vendors
- Prepare a clear, compelling case for cost reduction with supporting data
- Initiate negotiation meetings with each vendor to discuss cost lowering
How to edit and track OKRs with Tability
You'll probably want to edit the examples in this post, and Tability is the perfect tool for it.
Tability is an AI-powered platform that helps teams set better goals, monitor execution, and get help to achieve their objectives faster.
With Tability you can:
- Use AI to draft a complete set of OKRs in seconds
- Connect your OKRs and team goals to your project
- Automate reporting with integrations and built-in dashboard
Instead of having to copy the content of the OKR examples in a doc or spreadsheet, you can use Tability’s magic importer to start using any of the examples in this page.
The import process can be done in seconds, allowing you to edit OKRs directly in a platform that knows how to manage and track goals.
Step 1. Sign up for a free Tability account
Go tohttps://tability.app/signup and create your account (it's free!)
Step 2. Create a plan
Follow the steps after your onboarding to create your first plan, you should get to a page that looks like the picture below.
Step 3. Use the magic importer
Click on Use magic import to open up the Magic Import modal.
Now, go back to the OKR examples, and click on Copy on the example that you’d like to use.
Paste the content in the text import section. Don’t worry about the formatting, Tability’s AI will be able to parse it!
Now, just click on Import from text and let the magic happen.
Once your example is in the plan editor, you will be able to:
- Edit the objectives, key results, and tasks
- Click on the target 0 → 100% to set better target
- Use the tips and the AI to refine your goals
Step 4. Publish your plan
Once you’re done editing, you can publish your plan to switch to the goal-tracking mode.
From there you will have access to all the features that will help you and your team save hours with OKR reporting.
- 10+ built-in dashboards to visualise progress on your goals
- Weekly reminders, data connectors, and smart notifications
- 9 views to map OKRs to strategic projects
- Strategy map to align teams at scale