Archive for January, 2025

Business and AI: What can it do?

Tuesday, January 21st, 2025

 

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

Artificial Intelligence has often been heralded as a game-changer for businesses. As we look to the near future, it is poised to affect industries across the board, from streamlining operations to enhancing customer experience. But in what ways exactly will AI affect businesses and are the possibilities virtually endless?

AI algorithms are becoming increasingly adept at analyzing vast amounts of data to understand individual customer preferences. Businesses will leverage this capability to deliver hyper-personalized experiences. For example, retailers may use AI-driven recommendation engines to suggest products tailored to individual tastes, healthcare providers could customize treatment plans based on patient history and genetic information, and even entertainment platforms can offer uniquely curated content for each user. This level of personalization could potentially drive customer loyalty and satisfaction.

AI-powered automation potentially could free employees from repetitive tasks, allowing them to focus on more strategic and creative work. In industries like logistics, finance, and manufacturing, AI-driven tools will streamline workflows and boost productivity. Some examples include chatbots and virtual assistants that handle customer queries around the clock, robotic process automation that automates data entry, invoicing, and compliance checks, or even AI-powered scheduling tools that optimize workforce management and resource allocation.

AI is no longer a futuristic concept, but rather a present-day catalyst for innovation and efficiency. Businesses that embrace AI will not only gain a competitive edge but also redefine what’s possible in their industries. By preparing now, companies can position themselves to harness the transformative power of AI and lead the way into a smarter, more connected future.

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

Posted in

If the Economy is so great, why are so many stores closing.

Thursday, January 16th, 2025

 

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

If you are still the kind of person that enjoys going to stores and shopping, you have probably noticed that a lot of stores that you shop at are no longer there.  In the U.S. retailers announced approximately 7,100 store closures which is a 69 percent jump from the year before.  Not only are there closures but around forty-five retailers have filed for bankruptcy protection compared to around twenty-five retail bankruptcies the year before.  A lot of the store closures are due to the economy and the fact that people are strapped and not spending as much money as they did in past years.  With everything going up in price shoppers are now having to spend more money on more necessities and are spending less on other items.  The retailers with the greatest number of store closings include drugstores and major discount chains.  The pharmacy closings seem to be more of a problem with over 7,000 of their stores closing over the past few years.  All of these closings have caused major gaps in locations making it hard for shoppers to find a nearby drugstore to fill their prescriptions and get other health care products they need.  Researchers are hopeful that the retail space may stabilize later this year but do not be surprised if there are still additional closings.  Below is a list of some of the retailers that closed multiple locations over the past year.

  • Family Dollar
  • CVS Health
  • Big Lots
  • rue21
  • 7-Eleven
  • Rite Aid
  • Walgreens
  • Foot Locker
  • Dollar General
  • Dollar Tree
  • Macy’s
  • Office Depot

If you need help sourcing items for your company, feel free to contact SafeSourcing.   We can gather all the necessary information for you and help you decide which company and product 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.

 

Posted in

© 2026 SafeSourcing