Invasion, war, and you

Today’s blog is by Margaret Stewart, Director of HR, and Administration at SafeSourcing Inc.

If you closely watch the global news, there seems to always be some sort of invasion, war, or conflict. While the location of these conflicts and the underlying issues behind them can vary, it is always something felt by many. Recently Russian has been in the news and their presence within Ukraine. Hopefully, things will calm between the two countries, but things can escalate, and if so, you will likely feel that in yourself.

First, whenever there is a high-profile conflict, gas prices tend to rise. People get nervous and may rush to the pumps to ensure they have enough fuel to get where they are going or perhaps they just want to make sure they fill up their own tanks before prices rise. Whatever the reason, conflict tends to bring the consumer in at a higher demand than normal and this alone can raise prices.

In addition to fear and demand driving prices up, foreign conflict can have an enormous impact on the supply chain and lower the available supply of many different items.  Conflict can hinder the logistics of supplies throughout the world and additional sanctions on a country can further delay if not altogether stop supply routes. This may drive prices even higher, making the effects of conflict even closer to home.

Finally, the surge of fleeing refugees from within a conflict zone can also affect things economically. From housing and travel to regular foods essentials, and toiletries, the increased number of people within any country can greatly affect the supply and demand globally. Having a procurement partner, like SafeSourcing, helping your organization navigate disruptions in supply and logistics can help your business stay on track.

For more information on how SafeSourcing can help your organization or on our Risk-Free trial program, please contact a SafeSourcing Customer Service representative. We have an entire team ready to assist you today.

Today’s blog is by Margaret Stewart, Director of HR, and Administration at SafeSourcing Inc.

If you have happened to walk down a hardware or lighting aisle recently, you might have noticed an abundance of lightbulbs in their retail selection. They may be split by size and shape, or even color. Not knowing ahead of time what kind of light bulb you need can cause quite the headache when trying to purchase.

So how do you know what type of light bulb you need? First thing to look at is the fixture your intent on placing the bulb. Often lamps, especially smaller or kids’ lamps, may require a particular type of bulb, like Type A or B. If this is the case, you can usually find a sticker stating which kind on the actual plug. Here, there may also be information about the maximum wattage allowed for a lamp. This is especially important too to ensure safety and electrical codes and kept.

Sometimes if you are not sure what type of bulb, checking with the manufacturer can be your best bet. You can often find the same model of fixture online or even at your home repair supply store. If you have an old light bulb you can usually get some assistance and find exactly which type you need.

Once you know the size and wattage bulb, next you can pick a color. The standard for most lights is a warm tone and most mimics the lights bulbs of 20 plus years ago. It provides enough light and is a soft glow. There is also the daylight color, which is much cooler. This provides high visibility but can mimic the light you see in hospitals or other fluorescent lights. In addition, there are a number of different festive colors you can pick from, red and green, orange or pick, those that mimic a flame, or even black light.

Whatever your lighting needs entail, having a procurement partner, like SafeSourcing, can help your efforts in getting the supplies or suppliers you need for your organization.

For more information on how SafeSourcing can help your organization or on our Risk-Free trial program, please contact a SafeSourcing Customer Service representative. We have an entire team ready to assist you today.

Today’s post is written by Ivy Ray, Senior Procurement Specialist at SafeSourcing Inc.

Over one hundred million eyes were on Super Bowl LVI this week.  Football fans are in it for the game, others for the entertainment, and some just watching for the advertising commercials.  These ads cost a whopping $6.5 million for a 30-second slot.[1] Most of which were automakers touting their Electronic Vehicles, also known as EV.

General Motors, Nissan, and BMW shelled out billions of dollars on ads promoting their new EV offerings.  Still, none for Tesla which leads sales in EV and has never done any advertising, because demand for their cars currently far exceeds the number of cars their company can build.[2] Some of these vehicles that were advertised will not be available for months. Chevrolet’s Silverado EV is not due out until 2024.

The delays in getting these EVs on the market are due to a number of factors, including the global chip shortage, supply chain disruptions, and the difficulties of transitioning from internal combustion engine models to electric powered motors.  Another key factor in this delay is the battery.

Power and range of the EV depends on the type of battery it uses. Lithium-ion batteries are relatively low-cost, low maintenance, and have high energy density but manufacturers are exploring different battery options such as solid-state batteries which can store more energy, charge faster and are safer than lithium-ion batteries.[3] Solid-state batteries are still in the process of development and are a long way off from being considered as the standard, but investors are pouring money into their development and production.

The global automotive battery market is expected to reach $85.41 billion by 2025.[4] Lithium-ion batteries are currently the best choice for EV and the demand is anticipated to rise in the coming years.  Since lithium is one of the most important components in the manufacturing of EV batteries, stocks in lithium mining companies are on the rise. While it may be a while before you consider investing in the purchase of an EV, it seems lithium stocks may prove to be a worthy investment.

For more information on how SafeSourcing can assist you in exploring your procurement solutions for your business or on our “Risk Free” trial program, 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.

References………………………………….

[1] https://www.nbcdfw.com/news/local/super-bowl-lvi-commercials-take-lighter-approach/2888301/

[2] https://www.cnn.com/2022/02/14/business/super-bowl-ev-ads/index.html

[3] https://pitchbook.com/news/articles/factorial-energy-200m-future-ev-solid-state-lithium-batteries

[4] https://www.nasdaq.com/articles/3-battery-stocks-to-watch-amid-electric-car-revolution-2020-06-25

Today’s post is by Ron Southard, Chairman and CEO at SafeSourcing Inc.

In the last several weeks SafeSourcing has run online bids for construction materials, meat products, and several types of store fixtures. All have resulted in beneficial results for our customers. In fact, for savings that are lower than their previous contract pricing. I am not going to ask you to believe me, because you will have a bunch of reasons as to why your procurement teams cannot produce the same results. So just sit around until inflation goes away. Or just sit around until perceived supply chain issues resolve themselves. Once that happens, your costs will return to pre pandemic pricing. Here is what I have to say about that, BS!

I have read articles recently about Ford Motors CEO being upset with dealerships for unreasonable markups, to the point of potentially restricting allocations to those dealers. Today GM entered the same conversation. I have read about giant meat packing companies paying millions of dollars to settle price fixing charges. There are many more examples like this, there is no need for the price increases that are being charged to consumers or for your vendors to be raising prices to you as much as they are.

Actual savings versus your older contract pricing may be difficult, but per the few examples I mentioned above, not impossible. Cost avoidance from the pricing your suppliers are quoting you is nearly 100% possible if you setup your bid correctly. In today’s world, single source is a danger as we have seen during our ongoing and perhaps never going away pandemic. Our SafeSourceIt™ Supplier Database has thousands upon thousands of suppliers that would love your business or part of your business and at a better price than you are getting today.

Whether you have capital projects, cost of goods issues as we have discussed or want to focus on your expense, we have done it all from software and services to commodities.

If you do not believe me, click on the contact us link imbedded here, and it will go directly to me. Or just keep not focusing on it and as your team is telling you, it will not get any better