Archive for November, 2012

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Knowing more about of your vendors!

Thursday, November 8th, 2012

Today’s post is by Mark Davis; Sr. Vice President of Operations and CTO at SafeSourcing.

Fortune Magazine just published the top small and medium companies to work for.  Some of the highlights included extra money and vacation at long term anniversary, on-site childcare, monthly, company sponsored back massages, free breakfast buffet and game rooms.  You may be wondering what this has to do with your company.  The answer is everything.  When your suppliers are doing things right and creating a great place for their employees to work, it means they can service you better, provide better prices and products and have employees who are happier to work with your company.

In today’s blog we will be looking at a few other areas that suppliers are evaluated against that should be part of how you measure your potential and existing suppliers.

Industry Reviews – There are so many organizations these days whose sole purpose is to research and rank other companies against one set of criteria or another.  This BLOG was sparked by one of these surveys performed by a financial periodical, but there are other major companies like Gartner and Hoover who regularly publish the findings of their research for both companies and products.  These types of surveys and research results are important because they include the same types of criteria found in an RFI and are performed by independent organizations saving your organization some valuable research time.

Non-Profit Organization Ratings – Along with industry reviews, there are also organizations like the Better Business Bureau who give its ratings to companies based on complaints that have been logged against those companies and any other information available.  Others sites like Angie’s List and customer driven feedback sites allow you to see consolidated views of the companies, services and products.  These sites go beyond surveys and get right to the customer feedback you are looking for.

Certifications – Almost all organizations have been certified for one reason or another depending on the industry they belong to.   Many times their customers have no idea that they carry these certifications.  Capturing these during an RFI or RFP process will help you better evaluate the vendors you do business with.  Another way of getting this information is to go to the Certifying Organizations websites to find out which companies have been certified by their processes.

Peer Opinion – One of the most valuable questions you can ask a supplier but one that is rarely asked is “Who are your top three competitors?”  By asking all of the vendors this question during an RFI or RFP process you will quickly understand the landscape of who the leaders in the field are and how they view each other.  This can be valuable information to get from the companies who know their industry the best.

Understanding your potential and existing suppliers and how they compare in areas outside of the normal metrics, can help you develop good partnerships well in advance of any final contract with them.  For information on how SafeSourcing can help you gather these types of details, please contact a SafeSourcing Customer Service Representative.  

We look forward to your comments.

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Hey Retailers! Receipt paper, a great product to source!

Wednesday, November 7th, 2012

Today’s post is from Brad Westfall a SafeSourcing Account Manager

Is your receipt paper contract running out and are you getting ready to source out receipt paper?   There is one big thing that you must consider before you renew your contract; how safe is your current receipt paper?

The main type of receipt paper, used in adding machines, cash registers and credit card terminals is thermal paper. With this paper in use at most stores, you wouldn’t think something that you handle everyday as a customer would cause grave health and environmental concerns? That is where you would be wrong.

Some thermal papers are coated with BPA, or Bisphenol which is a colorless organic compound that is used to make different types of plastics and used to coat thermal paper. In 2010 the FDA warned against it use because of its increased cancer risk.

SafeSourcing can help with sourcing any of your thermal paper products with many BPA free vendors in our database. With our recent events, we have saved our customers over 35 percent on contracts for BPA free thermal paper. Contact a SafeSourcing customer service representative to source your safer products today.

We look forward to and appreciate your comments.

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Give permission to have stupid ideas

Tuesday, November 6th, 2012

Today’s post if from Michael Figueroa a SafeSourcing Account Manager!

Sometimes unconventional problems call for unconventional solutions. However, many of us are held back by believing in restrictions to the realm of possibility that aren’t really there. The longer we stay within a certain pattern of thinking, the more we constrain ourselves to staying within that paradigm, and the more comfortable we allow ourselves to get with that mindset, the more effort it will take to get ourselves out of our comfort zone. Ideally, this change needs to start with getting permission to have stupid ideas.

During brain storming sessions, too often you have people trying to impress the boss or each other with their brilliant ideas and nobody willing to throw in the high-risk concepts that might make them look like the odd-ball. However, like most investments there’s a relationship to high-risk and high-reward, and the ranking manager in the room can make a huge difference in making this possible.

For example, if the leader comes up with a crazy, off the cuff idea that everyone knows is nuts, the idea itself is not the payoff. It’s leading by example, subtly giving permission to innovate, making it safe to take risks. What happens is you’ll find everyone else in the room feel more at ease to think outside the box, to associate novel concepts with traditional problems, to relate seemingly unrelated ideas into cohesive strategies nobody has ever dared consider before. You’ve expanded the realm of consideration. What’s important in brain-storming is not the initial idea, but the process taken to turn several far-out concepts into a couple game-changing innovations.

If you’ve ever worked in an organization with an open-minded, risk-safe kind of culture, you’ll also find the staff is much quicker to adapt to change, and to accept unconventional projects. When a need arises that falls outside of established process, people aren’t fearful of taking it on because they aren’t afraid of breaking unspoken, yet overly conservative rules.

Often times we at SafeSourcing have clients that believe there are only 2 or 3 suppliers out there that can meet their needs, and it takes someone with the courage to explore other opportunities to actually go out and find them. We almost always find more and better suppliers than what our clients thought were out there. Expanding the realm of consideration is our job, and we’re pretty good at it.  Give us a call.

We look forward to and appreciate your comments.

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A Board of Directors Election Day Guidance to Voters!

Monday, November 5th, 2012

It’s hard as a business owner, CEO and conservative to not comment on a regular basis about the state of the election opportunity we face in the United States. There is so much rhetoric that it’s hard to separate the chaff from the facts in order to come up with the truth. With that said, it is up to a board of directors to do just that for companies. They must listen to a CEO’s plan, opinions, opportunities, proposals, ideas and excuses and then make an intelligent choice as to the best way to move forward with that CEO based on execution against that plan and the results achieved.

It really is that simple. It’s not about who came before you or what they did. That works in business for about 6 months (honeymoon period). After that, you as the CEO are responsible for your plan and your results versus that plan.

We could discuss P&L’s and the detail that we can glean as we peel back the onion skin, we can talk about new brand images (the look & feel of the company). What we have to look at are the basic results. In a company those are sales which forecasts future growth, revenue which is the financial yardstick of the company and a reflection of recent retraction or growth and the cash needed or lacking to support the companies future. And finally, the last piece is the profit that supports the company’s investment in the future.

So let’s take a look at President Obama’s results that loosely tie to the measures that most CEO’s would be held accountable to and listed above.

1. Gas Prices when entering office $1.84. Today $3.69, a 101% increase.
2. Unemployment when entering office 7.8%. Today 7.9%, a 1.2% increase.
3. Food Stamp Recipients when entering office 31.9M. Today 46.7M a 46% increase.
4. Poverty level (people) when entering office 39.8M. Today 46.2M a 16% increase.
5. National Debt when entering office $10.6 Trillion. Today $16.2 Trillion a 53% increase.

In the example above, increases are not a good thing. A CEO that raises sales, revenue and profits at the surface would be doing a good job. A CEO with the results listed above would be considered an abysmal failure.

Our greatest privilege as a citizen is our right to vote and to vote our conscience. When we are in that voting booth, no one can tell us what to do. Our choice is based on our understanding of promises made and promises kept.

What any board of directors would do when faced with the results from Mr. Obama’s first four years listed above, would be to fire the CEO immediately. In fact it would not have taken four years to act.

Vote your conscience and Thanks for voting!

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Apple’s launching a new iPad 4th Generation, just 6 months after the 3rd Generation?

Friday, November 2nd, 2012

Today’s post is by Sarah Kouse an Account Manager at SafeSourcing.

Are you one of the many people that just recently purchased a new iPad 3rd Generation? Well, Apple announced last Tuesday, October 23rd that they were launching a new iPad 4th Generation. When the Apple event was taking place, many knew that they were going to announce the new iPad Mini, which shares similar specs of the iPad 2nd Generation, but has a 7.9-inch LED display instead of a 9.7-inch LED display. Along with the iPad Mini launch, they shocked consumers with an announcement that they were launching an iPad 4th Generation, just 6 months from the launch of the 3rd Generation. Not only was it very outrageous for Apple to have such a shocking announcement of the launch of the 4th Generation, but it is taking the 3rd Generation completely out of the iPad lineup.

It is important you know exactly what you are buying when you are purchasing any product. There are several reasons to get to know the product you are buying. If you get a product that you don’t know everything about and you don’t qualify yourself on the product, you could be getting a product that doesn’t necessarily fit your needs. When you get a product that doesn’t fit your needs, you are essentially wasting time and/or money because you will either need to return the product and get something that does fit what you need or you may not be able to return it and have to spend more money on another similar product. Another thing that may be helpful to you and your business is to incorporate in any contract for a product, that it includes new versions and upgrades. This will take care of any frustration for if something like what happened with the iPad were to happen with the product you purchased.

With all this being said, make sure you know all the facts of the product and what you need the product for before purchasing a product. For all of your sourcing needs, contact SafeSourcing to help!

We look forward to and appreciate your comments.

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Oh Sandy….

Thursday, November 1st, 2012

Today’s post is by Heather Powell, Customer Service Manager at SafeSourcing.

The world is looking to the East Coast of the United States where Hurricane Sandy has leashed her furry.  The worst of the weather is over, but her destruction continues. Here is what this writer has learned over the past few days…

Hurricane/Superstorm/Frankenstorm Sandy will end up causing about $20 billion in property damages and $10 billion to $30 billion more in lost business, according to IHS Global Insight, a forecasting firm.

Across U.S. industries, disruptions will slow the economy temporarily. Some restaurants and stores will draw fewer customers. Factories may shut down or hold shorter shifts because of a short-term drop in customer demand.

Shipping and business travel has been suspended in areas of the Northeast. More than 15,000 flights across the Northeast and the world have been grounded, and it will take days for some passengers to get where they’re going.

The Wall Street Financial District, including the NYSE (New York Stock Exchange) was closed for two straight days, the first time since 1888. Many are holding their breath that the salt water from the flooded tunnels and street haven’t affected the power lines underground that feeds this area. If it has there could be delays or intermittent shut downs for repair.

Though those living with the destruction, devastation, and some families who have lost loved one these things don’t matter to them.  They folks need help, temporary and long term. They are looking to find a “home” again and peace of mind.

Is there positive in this situation? This writer believes there is.

In natural disasters people are drawn together. Our nation has been through a similar natural disaster before with Hurricanes Andrew (92’), Ivan (04’), Katrina (05’), Ike (08’) just to name a few. Tornados, Earthquakes, Floods all bring out the humanity in Americans.  Even with warning there were groups gathering supplies together to send to the hardest hit areas. People from the inland and all over American drove into the storm to help those individuals in need.

Re-building…  Retail sales may take a hit now but are likely to benefit in November and December, when people buy the supplies they need to rebuild. Rebuilding homes, businesses, infrastructures all need building materials. Those businesses will increase production to meet the demand.  Also to rebuild means new jobs.  Those that have lost everything will need to replace everything from homes, cars, clothes, and basic necessities those purchases will filter back into the economy.

From a previous SafeSourcing Blog written post Hurricane Ike, by CEO Ron Southard and still rings true today and every day:
 
“So, what can procurement professionals do? We already know that billions of dollars in new products and services such as building materials, automobiles, clothing and construction will be purchased by service organizations providing benefits to disaster victims as well as by consumers themselves once they receive insurance payments. To support these efforts, procurement professionals can take extra care to insure that the products they buy substantially support the local economy. By purchasing products from U.S. based companies we keep the Americans employed that build, ship, install, and train and otherwise support these products. Simple questioning can be asked of your suppliers. First, are all the products we procure from you made in the U.S.A.? Second, are all of the raw materials that are used to make the products we procure from you sourced within the U.S.A.? Third, are all of the products we buy from you picked, sorted and packaged within the U.S.A.

If you’d like to review your local sourcing strategy, please contact a SafeSourcing customer services account manager.

We look forward to your comments.

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