Archive for February, 2025

The Evolving Procurement Environment!

Friday, February 28th, 2025

 

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

Procurement plays a vital role in the global economy, but it is constantly influenced by geopolitical tensions, economic changes, and technological advancements. As we move forward, current affairs can and will shape procurement strategies.

The ongoing Russia-Ukraine conflict has disrupted global supply chains, especially in sectors like energy, raw materials, and food. Procurement teams are now prioritizing supply chain resilience, diversifying suppliers, and exploring nearshoring and reshoring to reduce dependence on unstable regions.

Sustainability is more crucial than ever, with consumers, regulators, and investors demanding ethical and eco-friendly practices. Companies are adopting green procurement strategies, such as sourcing renewable energy, choosing sustainable materials, and ensuring ethical labor practices. Blockchain and other technologies are enhancing transparency in supply chains, making it easier to verify product origins and sustainability standards.

The rise of AI, machine learning, and data analytics is revolutionizing procurement. These tools help businesses forecast demand, optimize inventory, and select the best suppliers. E-procurement platforms and automation are streamlining processes, reducing administrative costs, and fostering innovation. Blockchain technology is also ensuring secure and transparent contracts, which is crucial in today’s complex supply chain landscape.

Instead of transactional relationships, many companies are now focusing on long-term, collaborative partnerships with suppliers. This approach fosters innovation, ensures continuity, and reduces costs. Businesses are also diversifying their supplier base to include more diverse and inclusive partners, reflecting a commitment to social responsibility.

The procurement landscape is evolving, driven by global events and innovative technologies. To thrive, procurement professionals must embrace innovation, sustainability, and collaboration. By staying agile and adapting to these changes, businesses can position themselves for success in the increasingly complex global marketplace of 2025.

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.

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Are there more product recalls today than historically?  

Thursday, February 27th, 2025

 

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

If you pay attention to the news, you probably noticed that several times a week some type of food, drink or medicine is being recalled.  I was wondering if this is normal or are there more recalls over the past year than in other years in the past.  According to the FDA, recalls have become more of a buzz topic after we encountered a huge deli meat recall last summer.  Besides all of the coverage of the recalls the FDA states that there has not been a spike in recalls when compared to previous years.  While there appear to be a perception of more recalls, the number of food recalls over the past year has been generally consistent with past years.  The FDA’s claim on the recalls is also supported by a recent study published in the Journal of Food Protection, which showed that the number of recalls has declined over the past few decades.  This is in the most part due to the increased safety regulations that were put in place.  After doing some of this research it is concerning to me that we have so many recalls of which we are not aware.  According to research we have had around 2100 recalls over the last year, which averages around 5 to 6 per day for food, medication, and health equipment.  According to them this number appears to be the average amount of recalls over the past 8 years.  The reason for the heightened awareness seems to be because it has become trendier for news outlets to cover the announcements.  This is a good thing because it is important that consumers be aware of the recalls because they can cause injury or illness.  Below are some products that have been recalled recently.

  • Deli meats
  • Apple Juice
  • Eggs
  • Canned Tuna
  • Tahini Pasta
  • Alfalfa Sprouts
  • Cinnamon
  • Vegetables
  • Plant-based milk.
  • Coffee
  • Cheese
  • Baby food

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.

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The Evolution of SaaS in Procurement

Friday, February 7th, 2025

 

Today’s post is by Eric Steller, Chief Revenue Officer at SafeSourcing Inc.

The Software as a Service (SaaS) industry has undergone a profound transformation. What once promised efficiency and scalability through out-of-the-box (OOTB) solutions has, in many cases, become a paradox—overly complex yet insufficiently tailored to an organization’s unique needs. The reality is that most SaaS platforms, when left to operate as standalone solutions, fail to deliver their full potential. This is why leading organizations are shifting toward hybrid SaaS and services models—an approach that accelerates time to value, ensures seamless execution, and maximizes financial returns.

The Limitations of Traditional SaaS: A Market Reality

While SaaS solutions were originally designed to streamline operations, market research confirms that the complexity of modern business environments renders most OOTB implementations ineffective. A recent study from Allied Market Research projects the hybrid cloud market—an indicator of demand for mixed technology and services—will surge from $96.7 billion in 2023 to $480.2 billion by 2033, growing at a staggering 17.4% CAGR. This shift underscores an essential truth: organizations require more than software; they need expert guidance and executional support to drive measurable results.

Moreover, pricing models within the SaaS ecosystem have evolved to reflect this reality. Hybrid pricing strategies, which combine software subscriptions with usage-based service components, are now critical in optimizing customer value and revenue scalability. Companies that fail to integrate service-led models risk leaving significant financial gains on the table (Hyperline Research).

SafeSourcing: A Procurement Powerhouse That Redefines ROI

SafeSourcing embodies this hybrid SaaS-services paradigm to perfection. Founded over 15 years ago by procurement visionary Ron Southard, SafeSourcing initially launched as a Software-as-a-Service (SaaS) platform. However, it became evident that while the technology itself was powerful, most organizations lacked the internal expertise to unlock its full potential.

Clients, almost universally, sought SafeSourcing’s direct involvement—not only to deploy the solution but to lead their procurement events with surgical precision. Today, SafeSourcing operates as a fully managed Procurement-as-a-Service partner, leveraging:

  • A proprietary tech stack for seamless execution of RFIs, RFPs, RFQs, also known reverse auctions or on-line bids.
  • A database of nearly 600,000 vendors spanning every conceivable category
  • A dedicated team of procurement specialists who run sourcing events daily, ensuring superior outcomes

The EBITDA Multiplier: Doubling Profits Without Adding Headcount

The results? Unmatched cost reductions. SafeSourcing clients consistently realize savings of 25% or more per category—a staggering figure that, in many cases, translates to a doubling of EBITDA. The impact is so profound that if an enterprise were to do nothing else—no process optimizations, no internal restructuring—SafeSourcing alone could double profitability through sheer procurement efficiency.

Can any other solution make such a claim?

A Strategic Imperative for Every CxO

Every executive, from the CFO to the COO to the CEO, faces a relentless directive: deliver better results, faster, and at a lower cost. Amidst growing economic pressures and increasing competition, the imperative to optimize procurement is no longer optional—it is existential.

SafeSourcing is not just a SaaS provider. It is a strategic partner that transforms procurement from a cost center into a profit engine. If your organization isn’t actively exploring SafeSourcing, the only question is: Why not?

For more information on how the SafeSourcing can help you improve your EBITDA NOW through our Procurement as a Service offerings, or regarding 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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