March 20th, 2019

In this series, the author will work to educate you on how you CAN take your proprietary product out to market.

 

Today’s post is written by Heather Powell, Director of Major Accounts and Special Projects at SafeSourcing Inc.

In this series, the author will work to educate you on how you CAN take your proprietary product out to market. While there are many confusing words associated with proprietary products; such as trade secrets, non-disclosure agreements, trademarking, and many more, the author will break down the meanings and how many of them are in place to protect you and your product.

You may be thinking: why should I go to all this trouble? My product has been the same for years or decades without problems. How will this save me money? How will I know my product won’t change? This seems like a waste of time. Why would I rock the boat or ruin my current relationship with my incumbent?

While the process of procurement of proprietary products or items can be a long process, it does have multiple benefits. It identifies if you, or your current manufacturer, are making your product in the most cost effective way, using the best ingredients or materials to make the product, using the most cost effective and/or green packaging materials, and it opens the possibility for growth of your product.

Over the next few months, this author will provide examples of proprietary products being taken through the steps of procurement, covering the concerns that arose in the process, and how clients were successful in protecting their product and name in the process and obtaining savings and education along the way.

SafeSourcing can assist you in exploring your procurement solutions for your business or on our “Risk Free” trial program for RFPs and RFQs, please contact a SafeSourcing Customer Service Representative.  We have an entire customer services team waiting to assist you today.

We look forward to your comments.

 

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