Archive for December, 2023

Offshore, Nearshore, No Shore.

Thursday, December 28th, 2023

 

Today’s post is by Ronald D. Southard, CEO at SafeSourcing Inc

You might be surprised that during the last year the US increased import of Mexican manufactured goods by nearly 60% according to an article titled Global Trade is Shifting, Not Reversing in a January 3rd issue of the Wall Street Journal by Stephen Wilmot. I wonder how much of that even had to be put on a ship, hmmm? No child labor, hmmm? Quicker delivery times, hmmm? Here’s to North America!

Now, a simple question for all companies that are interested, is how do you find these manufacturers and other suppliers and distributors in North American (US, Mexico, Canada)? The simple answer is to contact SafeSourcing and ask about our  SafeSourceIt™ Global Supplier Database  that includes over 557,000 global vendor/suppliers.

To learn more, please contact a SafeSourcing customer services associate.

References: Wall Street Journal, Stephen Wilmot

 

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So, what happens with the evolution of Artificial Intelligence, Quantum Computing and Crypto?

Wednesday, December 20th, 2023

 

Today’s post is by Ronald D. Southard, CEO at SafeSourcing Inc.

Do you need Artificial Intelligence (Ai) to write your business plans for you, or Quantum Computing to come up with your next strategic plan? Will you report your earnings in Crypto like Bitcoin (BTC) or Satoshi instead of dollars?

As we close out 2023, these are some of the questions I ponder as everything in our world evolves at greater than the speed of light. Who knows, maybe I’m strange, but this is a fascinating time to be alive.

I can’t just do my job of running our managed service eProcurement Company SafeSourcing without considering these things. Just imagine when Quantum computing and Ai come together to provide you will all the questions you haven’t asked almost before you think of them. The speed of an Ai layer at quantum speed might just be able to do that. Assume you ask your Ai interface a very logical question on a thought process you are having regarding your product and or process evolution and the Ai interface provides you a very detailed answer and then presupposes your next question and answers it and so on.

If you are a leadership person with the responsibility of maintaining your company’s viability, you have to think how these evolving technologies will impact how you do business. If you don’t you won’t be here.

Here are a few questions that might let you know if you are keeping pace.

  1. What is digital gold?
  2. Who is Satoshi Nakamoto?
  3. What is Satoshi?
  4. What is a Qubit?
  5. How does a Qubit work?
  6. What is the fastest Qunatum computer in the world?
  7. What companies and countries are focused on Quantum computing
  8. Does the Macro financial world impact Crypto in the same way it does the stock market?
  9. What is the temperature of a quantum computer?
  10. How long does it take to settle an international transaction with Bitcoin (BTC)?
  11. How safe will data be at quantum speeds?

If you know all of the answers, congratulations. At SafeSourcing we are looking at all of these technologies so that we continue to be the best provider of eProcurement solutions for our customers.

SafeSourcing is a Procure to Pay Managed Service provider of a number of e-Procurement solutions and associated white glove services that are part of our cloud based SafeSourceIt™ eSourcing suite.

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

 

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Are your fleet drivers both full-time and temporary, prepared for emergencies?

Tuesday, December 19th, 2023

 

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

 

My daughter recently went on a road trip up north and it reminded me of this BLOG that I posted a few years ago.  She and a few friends were going to Cleveland to watch an NFL game and they decided to stay the night and visit a few attractions while they were there.  After she left it occurred to me that she does not have an emergency kit in her car.  Luckily, everything went smoothly, and they made it there and back safely.  But keep in mind, if you are going on road trips especially in the winter months, it is a good idea to carry along an emergency kit just in case you run into trouble.

If you have been driving for a while you know that unexpected things can happen.  Most of us spend hours in our cars and don’t think twice about emergencies that can occur while on the road.  These emergencies may not even involve you and your automobile.  With all of the traffic and congestion on the roadways it is possible that you could end up stuck for hours because of bad weather or accidents.  It is important to be prepared and ready for these unexpected problems.  One way to prepare yourself is to have an emergency car kit in all of your vehicles.  These kits can be purchased, or you can make your own kit stocked with all of the necessary items.  These emergencies don’t always happen in convenient places where cell phone service is available, and a tow truck is nearby.  Therefore, you need to be prepared for any conditions that may occur.  Below are some suggested items that you should include in your emergency car kit.

  • Jumper Cables
  • Tool Kit
  • First Aid Kit
  • Fire Extinguisher
  • Reflective Warning Triangles
  • Tow Strap
  • Foam Tire Sealant
  • Gloves
  • Flashlight
  • Duct Tape
  • Cell Phone Charger
  • Warm Blanket
  • Windshield Ice Scraper
  • Drinking Water
  • Non-Perishable Snacks

If you need help researching emergency kits for your vehicles, feel free to contact SafeSourcing.   We can gather all the necessary information for you and help you decide which kit 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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Do you Embrace Transformative Technology?

Monday, December 18th, 2023

 

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

Do you know why your company needs to embrace eProcurement?

In the fast-paced realm of modern business, efficiency isn’t just a buzzword; it’s the cornerstone of success. Enter eProcurement – a revolutionary approach transforming traditional procurement processes into streamlined, efficient, and cost-effective operations. Despite its undeniable advantages, some companies remain hesitant to fully embrace this digital revolution. If you aren’t using a sourcing partner or e Procurement, now is the time to make the switch.

Cutting costs while maintaining quality is the holy grail of business operations. EProcurement enables just that. By assisting in the purchasing processes, working with suppliers, and streamlining spend data, companies can significantly slash costs. Moreover, the transparency in pricing and spend analytics empower businesses to make informed decisions, driving cost savings further.

Healthy supplier relationships are the backbone of a successful business. Partnering with a sourcing partner, like SafeSourcing, can facilitate better communication and collaboration with suppliers. Streamlined order processes, transparent communication, and improved negotiation power contribute to stronger, more beneficial partnerships, fostering mutual growth and reliability.

As businesses grow, scalability becomes paramount. EProcurement systems are inherently scalable, adapting seamlessly to evolving business needs. Whether it is handling increased transaction volumes or expanding supplier networks, these systems evolve with the company, ensuring sustained efficiency and growth.

Beyond the operational benefits, eProcurement aligns with corporate sustainability goals. By reducing paper waste, optimizing transportation routes, and promoting digital processes, companies contribute to a greener, more sustainable future.

The advantages of eProcurement are too compelling to ignore and embracing this digital transformation isn’t just a step forward; it’s a leap toward operational excellence, cost savings, and sustainable growth. Now is the time to revolutionize your procurement processes, future-proof your operations, and unlock the immense potential of eProcurement.

For more information on what the SafeSourcing 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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Holiday Shipping

Tuesday, December 12th, 2023

 

Todays timely repost is from our Newsletter Archives and was written by Gayl M Southard former VP of Administration at SafeSourcing Inc.

According to Santa’s Elf Grumpy, many people want to know how Santa makes it around the world in just 24 hours. Some speculate it’s a government conspiracy, its Santa’s magic dust, perhaps Santa rides the magic of Christmas, could it be the theory of Santa-Relativity, the Naughty/Nice Matter/Anti-Matter, time bending, or time warping. There’s only one slight problem, Grumpy can’t tell you how Santa does it. (And he’s not even being grumpy about it!)

Have you heard of time zones? Well, Santa uses them to cheat — on time! He takes advantage of the Earth’s time zones! He starts by delivering presents at the International Date Line and travels west following the Earth’s rotation around the sun. By doing that he gains many, many extra hours of time. Children are actually waking up and opening presents while Santa is still delivering! Did you know that, if you live in the U.S., today is already tomorrow in Australia? Likewise, when Santa is in Australia, it is already yesterday in the U.S. This is a handy trick to know when you’re Santa Claus! So now you know the secrets to Santa delivering presents! And now you know how fast Santa can travel. You even know how Santa gets around the world in one night! Just please don’t tell everyone. I don’t want people appearing and disappearing all over the place like they were Santa Claus delivering all the presents!

If you’d like some help with your procurement or supply chain needs, please contact SafeSourcing. We’ll treat you with the same spirit in which this post is written.

References

Bob Tita, WSJ, 10/28/2021

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Retail Contract Leakage. Where does it come from and how can we stop it?

Thursday, December 7th, 2023

 

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

How does your organization  now ensure that the award of business is implemented or delivered as awarded so that you indeed receive all of your savings?

This is probably the most difficult part of the entire procurement lifecycle. The first part is to understand your data and where it is kept, that includes understanding what constitutes contract leakage so that you know what you are looking at. Once you have the data needs to be looked at on a regular basis in order to insure leakage is not occurring. This should be at least monthly depending on contract language. Most contract management systems have alerts that can be triggered as frequently as required.

The following list although not all inclusive speaks too many of areas in which contract leakage can occur. This happens in all companies large and small. If you are aware of them, capture them and report on them there is a good possibility of controlling them.

1. Buying without a contract.

2. Expensing something outside of a contract

3. Having multiple contracts in place:

4. Executing a new agreement when one is already in place

5. Paying a price different from the contract

6. Delivery variances

7. Quality specifications variances

8. Making payments at a prices different from the contract

9. Scope creep

10. Invoice discrepancies

11. Missed volume discounts

12. Insurance discrepancies

13. Shipping discrepancies

14. Expired contracts resulting in price uplift

15. Evergreening

16. Overtime Violations

17. Material discrepancies

18. Sub Contractor discrepancies

Don’t  have your team work hard to drive benefits with your procurement solutions and then lose much of what you have gained to contract leakage. Ask your e-procurement solutions provider how they can help or save yourself a lot of time or please contact a SafeSourcing Customer Services Account Manager.

We look forward to and appreciate your comments.

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Are you spending enough time and focus on the bottom line!

Wednesday, December 6th, 2023

 

Today’s post is by Ronald D. Southard, CEO at SafeSourcing Inc

I was listened to a rant by Bernie Marcus today on MSN about focusing on the bottom line and not being distracted by wokeness.

One quote resonated with me. “We need leaders who are basically thinking about the shareholders and their employees,” he added. “And I think today it’s all about woke diversity, things that don’t hit the bottom line.” While I agree with the 1st sentence of the quote, I do think there continues to be a need to focus on a more diverse workplace.

I rant fairly frequently about the treatment of employees who are too often used to reducing costs because of a lack of focus on other cost areas that can return similar results. In fact, this focus is part of our elevator pitch as is the need to focus on the bottom line.  It goes like this. “We assist our customers in significantly reducing costs to improve gross margins and net earnings, support growth plans and maintain, retrain where needed and grow associate headcount”. That’s’ who SafeSourcing is!

How do we do it you ask? With SafeSourcing’ s eProcurement White Glove Services. And we average greater than 24% savings across all categories. Apply that number to your cost of goods and expense plan. Then compare it to savings attributed to your planned employee layoffs.

SafeSourcing is a Procure to Pay SaaS based provider of a number of e-Procurement solutions and associated white glove services that are part of our SaaS offered SafeSourceIt™ eSourcing suite. That includes our SafeSourceIt™ Global Supplier Database that includes over 557,000 vendor/suppliers.

To learn more, please contact a SafeSourcing customer services associate.

 

 

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Not much has Changed! What are we in for at the Grocery Store and other venues for the holidays and beyond?

Friday, December 1st, 2023

 

Today’s post is by Ronald D. Southard, CEO at SafeSourcing Inc

I live in Arizona. Yes, we have great weather beginning right around now until well into next year. Resultingly, we have a lot of visitors come to the valley during these times, which includes many holidays like Christmas, New Years, Hanukkah, Kwanzaa, and others I am probably forgetting. Add to that the NCAA Football Semi Final Fiesta Bowl, The Super Bowl, The Waste Management Phoenix Open and any number of car auctions including the popular Barret-Jackson Car Show. So, you guessed it, our population explodes during what we call The Season.

This puts stress on all our businesses and for many it is their best time of the year if they have product to sell. Let’s hope that the demand can be fulfilled. That may be a challenge based on the following article. So, plan. Well ahead!

In a story title All the Food Shortages Coming to Grocery Stores Soon, Experts Predict by Kali Coleman at Best Life. From toilet paper to cleaning supplies, shoppers were rocked by major shortages in 2020 as a result of the pandemic and everything that came with it. But even as the COVID situation has improved, supply chain issues have continued, some with major consequences. Now, many experts are warning that we should prepare ourselves for several food shortages in the not-too-distant future. Read on to find out what you might not be able to find at your local grocery store.

Based on my observations and the above article it seems though both consumers and suppliers will have the plan intelligently by looking at alternatives, replacement products and recipes in order to please their customers. And both should plan on spending more too.

So, how do you find alternate sources of supply if you are a retailer? Contact SafeSourcing Inc. our SafeSourceIt™ Global Supplier Database includes over 557,000 vendor/suppliers and we work with them all the time.

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

Resources:

  1. Best Life, Kali Coleman

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