Archive for November, 2023

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SafeSourcing Announces the Release of a New White Paper

Wednesday, November 29th, 2023

 

Mason, OH – November 28, 2023 – SafeSourcing, Inc., a leading eProcurement company offering a complete Procure to Pay suite of applications supported by their White Glove Seven Step (7) managed services program, has announced they will be releasing a new white paper titled Successfully Sourcing Categories!

In this new white paper titled “Successfully Sourcing all Categories”, CEO Ronald Southard dives into the details as to what it takes to run successful sourcing events and shows the results that can be achieved when the legwork and required research are completed properly.

This white paper is among many that Ron Southard, an industry leading procurement expert, has published over the years The white papers aim to educate those in the procurement field on the nuanced details of what the procurement space has to offer when approached correctly. The white paper will serve as a guide and a tool for those in the industry on what steps can be made to achieve more success in their own sourcing efforts and to demonstrate the overwhelming value of a procurement partner such as SafeSourcing into any organizations sourcing environment. Other titles can also be found at this link to the SafeSourcing Website.

The white paper will be available to industry professionals and the public via the SafeSourcing website, www.safesourcing.com and LinkedIn.

SafeSourcing, Inc. provides cost effective tools under the SafeSourceIt™ product family that allows companies to dramatically reduce cost of goods, capital spending, and expenses in a timely manner while also reinforcing environmental and product safety programs. Focus is placed on a company’s entire spend for all products and services. SafeSourcing’s early-stage client engagement is specifically focused on cost reduction through the use of a detailed seven step, white glove process using the SafeSourceIt™ e-RFX application suite. Visit www.safesourcing.com to learn more.

Contact Information:

Marketing Department, marketing@safesourcing.com 888-261-9070

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Could You Get More Procurement Savings?

Tuesday, November 28th, 2023

 

 Today’s post is from our archives at  SafeSourcing.

Many of the organizations we speak with believe they handle their purchasing reasonably well, either with their existing internal processes or without any eProcurement tools at all. These companies may even realize savings as they negotiate with their vendors. That’s said; very few of these organizations are doing as well as they should, given the wide availability of eProcurement solutions and/or the ease of use available with full-service SaaS options.

Here are my top 5 signs that your organization is not maximizing the savings potential by using only a traditional procurement process.

  1. You only seek quotes from 2-3 vendors. Historically, our data suggests that having 6-8 suppliers quoting drives the highest possible savings.
  2. You haven’t competitively bid a category in the last 3 years. It is at this point that we find a category should be sourced, including non-incumbent vendors, to ensure you are still receiving the best market prices.
  3. You don’t have easy access to your existing contracts. If you don’t already, you should implement a contract management tool. Too often, we see organizations unsure of contract terms and key dates falling victim to unfavorable auto-renewals.
  4. You do not have a set of specifications for the category. This is both common and fixable and places the incumbent vendor in a place of perpetual power in negotiations.
  5. You’re not using eProcurement. As well as your organization does when negotiating, we see significant increases in savings, often 10-20% more, when our clients use their eProcurement tools effectively. One client recently admitted that they would never have asked for the prices or discounts that we deliver for them. Each of the four preceding signs is also an indicator that you’re not using eProcurement. In fact, by implementing a strategic eProcurement program, you’ll likely resolve one through four organically.

Do you see any of these signs in your organization? If so, take steps to correct and you’ll see immediate, measurable results.  For more information, please contact SafeSourcing.

We look forward to your comments.

 

 

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Thanksgiving and Black Friday is really a story of a supply chain found and developed!

Friday, November 24th, 2023

 

Todays post is by Ronald D. Southard, CEO at SafeSourcing Inc.

Happy Thanksgiving Weekend from SafeSourcing

One hundred and two pilgrims and crew arrived in Massachusetts after a 3,000 mile trip from England on the Mayflower. It is safe to say that as a result of that distance there was no existing supply chain to leverage, so one had to be developed and quickly. This began with basic hunting and gathering and later included trading with the areas indigenous peoples known as the Wampanoag’s for corn, seed and foraging and planting techniques.

The Thanksgiving holiday we celebrate today really stems from the feast held in the autumn of 1621. Since the pilgrims had only arrived on November 21st of 1620 they had really not been there long enough to develop a fully reliable and renewable supply source. They had however established collaborative relationships with the local Wampanoag people who became regular trading partners and who helped them celebrate the colony’s first successful harvest.

The most detailed description of the “First Thanksgiving” comes from Edward Winslow from A Journal of the Pilgrims at Plymouth, in 1621:”Our harvest  being gotten in, our governor sent four men on fowling, that so we might after a special manner rejoice together after we had gathered the fruit of our labors.

The fowl referred to above certainly could have included a wide range of fowl that was plentiful in the area such as wild turkey, pheasant, goose, duck, and partridge and unfortunately by today’s standards even eagles.

The pilgrims probably didn’t have pies or much of anything sweet at the harvest feast because they did not yet have ovens. They had brought some sugar with them on the Mayflower but by the time of the first Thanksgiving, the supply had probably run out.

Their meals also included many different types of meats. Vegetable dishes, one of the staples of today’s Thanksgiving, didn’t really play a large part in the feast. Other items that may have been on the menu certainly included sea food such as clams and lobster, Indian corn, wild fruits and nuts, meats such as venison and seal and certain dry herbs and spices.

The Thanksgiving meal that has today become a national holiday is a symbol of supply chain cooperation and interaction between English colonists and Native Americans.

We look forward to and appreciate your comments.

Happy Thanksgiving.

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Happy Thanksgiving Weekend 2023 from SafeSourcing. Who were the Pilgrims?

Wednesday, November 22nd, 2023

 

Todays post is by Ronald D. Southard, CEO at SafeSourcing Inc.

According to the Mayflower Society, as history has evolved, any of the 102 Mayflower passengers who arrived in Plymouth on the Mayflower and survived the initial hardships is now considered a Pilgrim with no distinction being made on the basis of their original purposes for making the voyage.

The Mayflower Pilgrims and their fellow travelers were authors of the first true governing document created in a New World colony. The Mayflower Compact is considered to have set the stage for the Constitution of the United States.

These were the same pilgrims that were responsible for the holiday we celebrate today called Thanksgiving.

We wish you and yours a peaceful and happy extended holiday weekend.

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Have you seen the new features and Artificial Intelligence (Ai) coming in Google Maps?

Monday, November 20th, 2023

 

Today’s post is by Troy Lowe; Vice President of Development at SafeSourcing.

As you probably know, Google Maps is one of the most popular navigation applications in the world.  If you haven’t heard Google Maps got a massive new AI upgrade recently and added 5 new features that makes it smarter and more helpful than older versions.  One of the new features and probably one of the most impressive is the Immersive View feature.  This feature allows you to see your routes from the street level in an amazing 3D view.  This new feature allows you to get detailed and realistic views of your surroundings, landmarks, and directions before you even begin your trip.  Using this feature is very useful when your trip involves complex or unfamiliar areas where most people may get lost by the confusing directions or surroundings.  This feature works by allowing you to preview every step of your trip whether you are driving, cycling, or walking.  For example, if you wanted to take a scenic bike route, you would just request cycling directions to the destination and then tap Immersive View preview to see your route in a stunning, multidimensional view from start to finish.  Doing this can help you prepare for each turn as if you were there with detailed, visual turn by turn directions.  It has a time slider that you can use to view helpful information like weather conditions and simulated traffic.  This will allow you to avoid taking the trip during bad weather or during heavy traffic times.  Below are some of the other new features.

  • Google Maps Search with AI
  • AI enhanced Google Maps Navigation
  • Added EV Charging Station Info
  • Lens in Maps Feature

If you are looking to purchase new smartphones or devices for your company and would like help researching available options, feel free to contact SafeSourcing.   We can gather all the necessary information for you and help you decide which one meets your needs.  If you would like more information on how SafeSourcing can help you, please contact a SafeSourcing Customer Service representative.  We have an entire team ready to assist you today.

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The Vital Role of Procurement Services in Business Success

Friday, November 17th, 2023

 

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

In the complex ecosystem of modern business operations, the role of procurement services stands as a linchpin for organizational success. Procurement, often regarded as a behind-the-scenes function, plays a pivotal role in driving efficiency, cost savings, and sustainability within businesses across industries. It encompasses the processes involved in acquiring goods, services, and works from external sources.

Driving Efficiency and Cost Savings

At its core, procurement is about optimizing the purchasing process to ensure the right resources are obtained at the right time and at the best possible cost. Leveraging procurement services allows businesses to streamline their supply chain, negotiate favorable terms with suppliers, and source high-quality materials or services while minimizing expenses. This efficiency not only impacts the bottom line but also enhances operational agility.

Strategic Decision-Making

Procurement services extend beyond mere transactional activities. They involve strategic decision-making that aligns with a company’s overall objectives. Procurement professionals evaluate supplier performance, assess risks, and identify opportunities for innovation and collaboration. This strategic approach helps in fostering long-term relationships with suppliers and mitigating potential disruptions in the supply chain.

Mitigating Risks and Ensuring Compliance

In an increasingly globalized marketplace, navigating through various regulations, compliance standards, and ethical considerations is a complex task. Procurement services play a crucial role in mitigating risks associated with supplier relationships, ensuring adherence to regulatory requirements, and maintaining ethical sourcing practices. This not only safeguards the company’s reputation but also reduces potential legal and financial risks.

Fostering Innovation and Sustainability

Procurement services contribute significantly to fostering innovation and sustainability initiatives within organizations. By engaging with suppliers to identify environmentally friendly materials or sustainable practices, businesses can reduce their environmental footprint and align with evolving societal expectations. Collaborating with suppliers on innovation leads to the development of cutting-edge products or services, giving companies a competitive edge.

Enhancing Supplier Relationships

Effective procurement services are built on strong supplier relationships. Cultivating partnerships based on mutual trust and understanding fosters collaboration, flexibility, and responsiveness. Strong supplier relationships often result in preferential treatment, better terms, and a more agile supply chain network, ultimately benefiting the organization’s overall performance.

The importance of procurement services cannot be overstated in today’s dynamic business landscape. Beyond simply acquiring goods and services, it plays a multifaceted role in driving efficiency, mitigating risks, fostering innovation, and ensuring compliance. Businesses that prioritize robust procurement strategies position themselves for sustained growth, resilience, and competitive advantage in the market.

For more information on what the SafeSourcing Procurement Managed Services team can offer you, or on our Risk Free trial program, please contact a SafeSourcing Customer Service representative. We have an entire team ready to assist you today.

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Why use SafeSourcing versus other providers in the Procurement Space?

Wednesday, November 15th, 2023

 

Today’s post is from a collection of data and other tools that SafeSourcing’s CEO Ronald D. Southard uses regularly in the pursuit of fresh content.

  1. Cost Savings: SafeSourcing can help businesses achieve cost savings through strategic sourcing and negotiation processes. By leveraging their expertise and technology, they will assist in obtaining better prices from suppliers than you can.
  2. Efficiency in Procurement: SafeSourcing offers tools and platforms that streamline the procurement process, making it more efficient and reducing the time and resources required for sourcing all categories of goods and services.
  3. Supplier Relationship Management: SafeSourcing might provide services to help businesses manage relationships with their suppliers effectively. This can include monitoring performance, addressing issues, and fostering collaborative partnerships.
  4. Risk Mitigation: The company may have tools and processes in place to assess and mitigate risks associated with the procurement process. This could include evaluating supplier reliability, compliance, and other factors that may impact business operations.
  5. Access to a Network of Suppliers: SafeSourcing could offer access to a wide network of pre-vetted suppliers in their SafeSourceIt™ Supplier Database. This can be particularly beneficial for businesses looking to expand their supplier base or enter into new markets.
  6. Technology Integration: If SafeSourcing utilizes advanced technologies, businesses may benefit from the integration of these tools into their procurement processes. This could include e-sourcing platforms, analytics, and other technological solutions embedded in the SafeSourceIt™ family of solutions.
  7. Compliance Support: SafeSourcing through regularly sourcing hundreds of categories may assist businesses in ensuring that their procurement practices comply with relevant or evolving regulations and industry standards. This can be crucial for avoiding legal issues and maintaining a positive corporate image.
  8. Customized Solutions: The company may tailor its managed services to meet the specific needs of individual businesses. This personalized approach can be advantageous in addressing unique challenges and optimizing the procurement process.

To learn more please contact a SafeSourcing Customer Services Representative.

 

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Remember to say thanks to all veterans today, and every day!

Friday, November 10th, 2023

 

Today’s post is from Ronald D.  Southard, Founder and CEO at SafeSourcing Inc.  I am a very proud USAF Veteran. I began my supply chain career as an Inventory management specialist 645XO in the War Materials Department of Base Supply during the Vietnam War. The logistics involved at the time are still advanced to many things industry is doing today. What an education. Thank you to all my veteran brothers and sisters for your service past present and in the future.

SafeSourcing is extremely proud to be a Veteran founded and owned company.


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For more information, please contact a SafeSourcing Customer Services Associate.

 

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Bankruptcy is not fake news, and you might be next if you don’t pay attention.

Thursday, November 9th, 2023

 

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

I read an article today on TheStreet.com by Kirk O’Neil titled Beloved fast-food chain files for Chapter 11 bankruptcy. Quite frankly it took a while to figure out what chain the article was referring to because it spent a lot of the article talking about the problems Rite Aide is having who also filed for Chapter 11. Then it went on to talk about  a furniture company that had to close 27 stores in 14 states and ultimately had to file for Chapter 7 liquidation.

The article did finally mention a restaurant chain that had to file for chapter 11 because sales have not recovered from the Covid Pandemic. How often have we heard this?

The fact is the fast-food sector of the retail is suffering, the model has changed quite a bit. How often do you go inside your favorite location to order your food (it is faster). Most of the takeaway or to go traffic is done through the drive-up windows. I’m pretty sure we are going to start seeing them again in the c-store space as they continue to try and capitalize on fresh food offerings, some of which have become outstanding. Even food service distributors are shifting their attention to the c-store vertical as a new source of business.

So, what’s the point? There is a lot of pain in all retail, it’s a war for the customers reduced spending. Thank the FED, The current Democrat Administration, and the Banks for that. However, where there is pain there is opportunity. If you look for it, it may just save some jobs or pay for that new self-checkout because you can’t find enough staff  for the shift work in 24-hour operations.

If you ask, you can find lower prices on just about everything. Capital Projects, Cost of Goods and Expense. Here’s the thing, you are understaffed for the job you have to do. There are other projects that the company will never get to.  You don’t have the time to do it yourself. That’s where SafeSourcing comes in. We know the categories as well or better than you do. We know where all of the suppliers are and have relationships with them, that you do not.

If you wan to reduce costs, I mean really reduce them so you can afford to do other things, Contact SafeSourcing. We guarantee our work, and our ROI is often greater than 10X and immediate.

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All of you Retailers are paying way more than you should be for just about everything.

Tuesday, November 7th, 2023

 

Today’s post is by Ron Southard CEO and Chief Money Saver at SafeSourcing Inc.

The pandemic scared everyone. The retail industry had moved largely toward single source supply chain initiatives. The last two years has not really seen much movement away from that. The result is that retailers are paying way too much for everything. As a good cop in this equation, I try to keep customers and prospects informed as to market movement on as many commodities, supplies and services as I can. It’s pretty easy, because I can actually look back at what retailers were paying two to four years ago and I can compare it to what other retailers are paying now. The best I can do with that information is share it in a nonspecific way. Example: Two Years ago, you paid X for Y. Last week another customer ended up paying X for the same Y. They are paying less than you are.

My reaction to the above would be, tell me more and tell me how soon we can fix it. In fact, SafeSourcing has reduced its costs on everything we do including interest rates on all types of debt. We can do the same for you.

I know planning for the future and worrying about what to do about shrinking labor pools or lack of shift workers or how to attract more customers away from one format (fast food to C-Store) to yours is all top of mind, but many a fine MBA professor has told their students ITS ABOUT THE MONEY. What are the two most important things to a retailer? People (customers) and Money (cashflow/profit).

I can help you get there sooner rather than later.  Or maybe you’re just waiting to be bought out or get fired.

SafeSourcing is a Procure to Pay SaaS based Managed Services provider of a number of e-Procurement solutions and associated white glove services that are part of our SaaS offered SafeSourceIt™ eSourcing suite . Our average annual savings against all categories are in excess of 24%. Think about what those numbers would do to your bottom line whether they are from cost of goods or expense. Protect your precious headcount because it is the right thing to do,

For more information, please contact a SafeSourcing Customer Services Associate.

 

 

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