Knowledge is Power

November 19th, 2018

Using SafeSourcing's knowledge to your benefit!

 

 

Today’s post is by Dave Wenig, Vice President of Sales and Services at SafeSourcing.

At SafeSourcing, we host many eProcurement Request for Quote (RFQ) events. In fact, this is a large portion of our services because of the savings that this generates for our customers. If we’ve spoken before, you’ve probably heard me talk about this. Specifically, that while each of SafeSourcing’s customers might source a particular category once a year or once every two years, SafeSourcing is likely sourcing that same category many times a year.

This is where SafeSourcing’s knowledge can become your power. I’ll offer this following example, but just know that this is one of many examples that we could share.

Many of our retail clients sell hot and cold beverages. Of course, these come in a variety of cups with different lids and different straws, but for this example, I’m talking about foam cups. Many of our customers are aware of 1-2 suppliers that offer these cups. We actually have more. That wider supplier base generates real savings in an RFQ scenario. It’s easy to talk about recent savings percentages or to speak generally, but consider this next specific statement.

At SafeSourcing, our retail convenience store customers have saved an average of about $5,000 per store on their foam cups, lids, and straws in the past year while still awarding to their incumbent vendor.

What this statement means is that there is a very strong likelihood that you can save on this category too. If you are a convenience store operator, and you have 50 stores where you use these products, that could be a quarter of a million dollars that you’re overpaying per year. Maybe it’s not the exact case for you, but the data tells me that it’s very likely. Shouldn’t you use SafeSourcing’s knowledge to your benefit?

As I said, this was just one specific example out of many. The only way to really tap into SafeSourcing’s category knowledge is to talk with us.

  • Ask us a specific question about category savings.
  • Ask our opinion on the current market conditions for a category.
  • Ask about the timing of a category due to harvest seasons.

I’ll share one more thing that we know at SafeSourcing; if you aren’t using SafeSourcing for our knowledge and our RFQ services, then you’re overpaying on all your spend.

For more information, please contact SafeSourcing. 

 

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