To mitigate the risks associated with vendor lock-in, companies can adopt several strategies:
Diversification: Sourcing materials and technologies from multiple vendors can reduce dependency on a single supplier. Open Standards: Advocating for and adopting open standards can facilitate interoperability between different vendors' technologies. Long-Term Contracts: Negotiating long-term contracts with clear terms and conditions can provide stability and predictability. Continuous Evaluation: Regularly assessing the market for new vendors and technologies can ensure access to the best available solutions.
