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

 I decided to repost this BLOG from about 5 years ago because having a home warranty has again saved us several thousand dollars. This time we were having trouble with our air conditioning system. The warranty company sent out a technician and without the home warranty we would have had to pay over $2,000. But since we do have the warranty we only had to pay the $100 deductible.

Do you own a home or are looking to buy one? If so you may want to consider purchasing a home warranty. A home warranty covers numerous items around the house with a small service fee. When you have an issue you call the company and they will send out one of their approved service providers to diagnose the problem. If the item can be fixed, the service provider will fix the item and if it cannot then it will be submitted to the warranty company for replacement. If this was a major component such as a heating and air conditioning unit, having the warranty could save you thousands of dollars. Below are a few items that may be covered by a warranty.

• Heating and Air Conditioning
• Water Heater
• Plumbing
• Electrical
• Appliances
• Garage Doors / Garage Openers

There are many companies out there that offer warranties, so be sure to read the contracts carefully and make sure you understand what items are covered and which are excluded. If you would like some help finding the best warranty for your home, we can gather all the necessary information for you and help you decide which option 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.

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

There are many words in English that can be used interchangeably, but sometimes you must be careful doing so.

There are many words in English that can be used interchangeably, but sometimes you must be careful doing so. Whether it is paraphrasing or using literal translations from one language to another, the results can vary from humorous, to confusing, or even deadly. For example, in 1977 a Pan Am airplane and a KLM airplane crashed into one another, killing 583 people, all because of a miscommunication due to using a literal translation of English. While this is certainly not common, it is something that we must each be careful of.

There are some instances of literal translations that are just funny rather than deadly. For example, the word hedgehog in English is translated to “needle mouse” in Japanese. The English word for gloves is translated to “hand shoes” in German. Another example is the potato is translated to “apple of the ground” in French.

Sometimes, misuse of words can affect your business as well. If you choose the right words, some may even say “buzz words”, then your business website could potentially get more traffic and likely more resulting business. The following is an example sentence that contains numerous words that help bring visitors to your site: To alleviate or avoid budget traps, some of these words can guide consumers deals, coupons, or code to buy the cheapest and best bargain deals with the best discount to easily eliminate, end, and cure and protect your purchase quick, for men, for women, for students, for guys, for girls, for children, for sale.

In addition to the uses of words already mentioned, when using contracts or other terms or conditions in your business, it is exceedingly important to choose words carefully and expand on any language that could have multiple interpretations. This may add to the amount of paperwork that a business needs, but should accurately relay the ideas or information that is intended. Carefully reading and reviewing documents can help ensure your business language is on point.

For more information on how SafeSourcing can help your procurement efforts, or on our Risk

Free trial program, please contact a SafeSourcing Customer Service Representative. We have an entire team ready to assist you today.

References……………………………………………………

1. Airplane Crash: https://www.telegraph.co.uk/travel/comment/tenerife-airport-disaster/
2. Literal Translations: https://thelanguagenerds.com/hilarious-literal-translations-from-different-languages/

Buzz Words: https://www.orbitmedia.com/blog/increase-website-traffic/

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

We are currently in a rapidly evolving time, battling with an unseen enemy, with no real answers on how or when this will end. At the onslaught of the COVID-19 pandemic, businesses had to make immediate decisions on how to keep safe while still maintaining their business. The same was true for schools, service organizations, and restaurants. Although all of these have a valuable role in our communities, some were deemed “essential” and others were forced into an abrupt shut-down. This has caused much debate over what is considered essential.

Of course there are vital operations which are clearly necessary for sustaining life and safety, such as hospitals, first responders, and food supply. Others may not be as clear-cut, but are just as important in maintaining our society. Truckers are essential to keeping the supply chain going and waste management and sanitation operations cannot be halted.

Fortunately, we have been able to take advantage of some products and services that were already in existence, but that have now become essential in allowing us to function and maneuver. Drive-thru restaurants, instore pick-up, and food delivery services have allowed us access to food. Current technology such as, VOIP telephony, personal computers and hand-held devices, combined with the internet, has kept us connected. Business and individuals alike are relying on services like Zoom, WebEx, Microsoft Connect, Skype, and FaceTime in order to stay virtually connected. The types of payment methods have increased significantly in just the past decade, creating a cashless society which allows us the ability to make purchases, move funds, and complete financial transactions without ever having to come in direct contact with a single person.

The impact of COVID-19 has caused a limited supply of essential goods and services due to increased demand, leaving companies to scramble for suppliers to meet their needs. Some manufacturers have pivoted to producing some of the much needed supplies necessary to meet the demand and to keep their business relevant. SafeSourcing, Inc. has been successful in procuring products and services to meet these essential needs.

If this pandemic had hit us 30 years ago, it would have been extremely crippling to our society and we would not have been able to continue many of the functions that we are appreciating right now. We need to be in a perpetual state of evolution, and we must be flexible so that we do not break. What we have learned is that we are all connected and therefore ALL are essential.

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.

Today’s post is by Dave Wenig, Senior Vice President of Sales and Services at SafeSourcing.

At this point in time, we’re well into the pandemic. States are reopening and business are working hard to get back to normal, including deciding what normal means now. Clearly, the COVID-19 pandemic has had, and will continue to have, wide-reaching effects on the economy. Which brings me to price gouging. Rather than looking at this from a legal perspective which will vary, I would like to pose a question from a more personal perspective. At what point do you feel a price increase has become price gouging.

Just for reference, SafeSourcing’s own Wiki defines price gouging as follows. “Price gouging occurs when a business increases the cost of their offering by an unreasonable amount. While price increases can occur at any time without being considered price gouging, these should generally not exceed around 20%. State laws may dictate the amount of the increase and other considerations in determining whether a price increase constitutes price gouging. Excessive price increases aimed at taking advantage of an emergency situation during times of emergency may be deemed to be price gouging, especially if competitive prices are significantly lower.”

Recently, many of our customers are being handed price increases for mission critical supplies that they need to operate, especially during the current pandemic. Supplies like gloves and other safety supplies are prime targets for these price increases. Some price increases have been observed at nearly 400%. Do you think that is price gouging? I do.

If we use competitors’ prices as a test of whether price gouging has occurred, then it certainly has. Fortunately, SafeSourcing is able to do what many companies simply cannot do on their own. SafeSourcing can challenge price increases in real time via our online RFQ tools and our vast global supplier database. That means that if one of our customers receives a price increase that they suspect is unfair, we can leverage our tools and process to attempt to achieve cost avoidance and to put a stop to price gouging as it happens.

Price increases aren’t always price gouging. We need to be more diligent than ever in managing price increases to avoid being taken advantage of. Now is not the time for our supplier partners to reap enormous margins while so many businesses are struggling to stay open.

Have you seen large price increases, let’s talk about it. 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.

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

With all of the restrictions put in place due to the COVID outbreak, we have been taking drives in the evening to get a change of scenery. It has been weird driving around and seeing way less traffic and all of the abandoned restaurants and businesses. Taking these long drives has been getting us out of the house but it hasn’t taken our minds off of all the problems that exist. But recently our state has started to remove some of the restrictions and now taking these evening drives has become very refreshing. We live around a few small towns and as we drive through them now we are seeing people walking and enjoying themselves as they frequent the local shops. Some of the smaller downtowns are blocking off the side streets and installing tables so that people can buy food from the local shops and eat outside. It’s just refreshing to see that things are starting to look a little more normal. With that being said, I’m not sure when we will be partaking in all of the activities. I think that we will be waiting about another a month or so to see if these new rules on the restriction are affecting the number of infections. If the numbers keep going down, then we will start to venture out into places with larger groups. Maybe take baby steps like eating out at places that have large outdoor patios where there is a lot of air circulating to maybe reduce the risk of infection. Until then we will probably still restrict where we go and don our masks accordingly. If you are planning to go out, have fun and stay safe!

If you are looking to purchase any protective personal equipment 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.

Today’s blog is by Gayl Southard, Administrative Assistant it SafeSourcing.

Banana bread has become the unofficial baked good of COVID-19. It seems like everyone is making it. Google searches surged the week of March 15—right after the federal government announced a state of emergency due to COVID-19, and the first week many people were staying at home full-time because of social distancing. Pinterest shows a similar surge in user interest for banana bread recipes starting on March 24. Views of all banana bread recipes surpassed 1 million just in the week of March 29 through April 4. But the question remains: Why did banana bread in particular become the baking status symbol?

This is not the first time in history when people turned to banana bread. Food historian Sarah Wassberg Johnson says that the first time anyone made banana bread was likely during the Great Depression. This was another time of extreme economic and social hardship for most Americans. It was thought a housewife had some bananas that were going bad and decided to try and make bread out of it. The ingredients are cheap, bananas are easy to find regardless of the season. Bananas are easy to work with because they are soft. Banana bread doesn’t require proofing, kneading, or rolling. It’s an easy recipe for a novice.

“Fast forward to today, and pandemic aside, there are some pretty clear parallels between the Great Depression and now. Twenty-two million Americans have filed for unemployment in the past four weeks, and the International Monetary Fund (IMF) predicts that the current global recession will be more severe than both the Global Financial Crisis of 2009 and the Great Depression. Yet to Johnson’s point, banana bread ingredients—eggs, flour or alt-flour, eggs, etc.—are still cheap and relatively easy to find, making it friendly to a variety of budgets. (In March 2020, the average price per pound of fresh bananas was $0.58.)”1

For more information on how SafeSourcing can help your procurement efforts, or on our Risk

Free trial program, please contact a SafeSourcing Customer Service Representative. We have an entire team ready to assist you today.

References….…………….

1 Emily Laurence, Healthy Cooking, 4/16/2020

Today’s post is by Dave Wenig, Senior Vice President of Sales and Services at SafeSourcing.

With all of the increasingly negative information out there about the COVID-19 pandemic we’re facing, I thought it would be a nice change of pace to share some information that is a bit more positive. Actually, today I’m writing about something that hasn’t changed during these difficult times.

On my LinkedIn page, I often post about recent successes we deliver for our customers. I share about a variety of different categories as we work with our customers to source just about everything they need whether products or services. For example, I’ve posted about reducing charges for consulting services by 22% and 36% on water heaters.

Those posts can be interesting on their own, but what I’ve noticed recently is even more so. I’ve noticed a trend. While that might not seem so interesting, I’ve come to realize that in today’s world this particular trend is something special. What I’ve noticed is that while we’re all facing so much uncertainty and challenge, the results we’re driving in terms of savings percentage for our customers remains unchanged. Specifically, I’ve been keeping an eye on a common set of categories that nearly all of our customers source with SafeSourcing.

Supplies are traditionally a strong set of categories for SafeSourcing and its customers. The savings we drive here are relatively easy to achieve. Recently, I’ve been keeping a close watch on these categories and am happy to report that the discounts we’re delivering on these categories are as deep as they ever are. Regardless of their point of origin, supply items savings are especially strong. While COVID-19 has been causing so much trouble and pain, we’ve still found about 25% savings on plastic cutlery, 26% savings on water filters, 24% savings on reusable bags, and more. That means the average savings at around 25% is still exactly where we would expect it to be. Some categories even seem to be generating a bit higher savings where the markets pricing and/or demand are down as well.

That’s some great news and is as close to certainty as we’re likely to get in the midst of this pandemic. Rather than feel helpless, take this as the opportunity that it is and take action to lock in your savings now. We may as well focus on challenges that are easily within our control.

Stay safe and don’t be shy if you need assistance. We’re all in this together. 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.

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

If you are currently working with SafeSourcing then you know that we are an e-procurement company offering a complete procure-to-pay suite of applications under the SafeSourceIt™ banner that reduces costs, improves efficiency and extends the reach of your current procurement organization. The heart of our family of products is our eSourcing tools which includes our popular reverse auction technology. Our historic ROI is greater than 10x and in many cases companies receive an ROI on their subsequent roll-out during the pilot stage. As part of this service, we research suppliers and find the ones that will meet your needs for the products or services you wish to source. The vetting process leaves us with a list of potential suppliers that you can use for your sourcing needs.

Most companies try to use a single supplier for their sourcing. This is usually done because it is more efficient and there is usually less administrative effort. Are you using a single supplier for your sourcing needs? If so, what happens if there is an emergency that disrupts the supply chain and your supplier happens to be one of those affected? Do you have an alternative supplier that you can turn to? From my experience, a lot of companies do not. This is where we can help. Our supplier vetting process, mentioned above, can also be used to help you find other suppliers when you are in a pinch. We work with a lot companies and when we complete our supplier research they are usually surprised at the many other supplier choices that are available. If you fall into this category and would like help finding alternate supplier feel free to contact us. Below is a list of some of our other offerings.

• Buyer Training
• Category Discovery
• Category to Market Strategy
• Event Set-Up
• Event Training
• ROI Delivery
• Supplier Safety Certifications
• Supplier Selection
• Supplier Training

If you are looking for help finding additional suppliers and would like help, 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.

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

During this trying time of COVID-19, organizations are battling uncertainty with demand fluctuations, production changes, and security of supply. In an earlier blog, I discussed the importance of innovation and there is no greater time than now to be innovative.

Innovation is often viewed as the application of better solutions that meet new requirements, unarticulated needs, or existing market needs. Currently, there are some supplies that are in greater demand due to the need to meet the requirements that we are facing today. Solutions to meet these needs are coming from a multitude of sources and the world’s supply chain is being stretched to the limit. The National Association of Manufacturers was tapped to seek suppliers to provide or produce large-scale quantities within 2 weeks in response to the COVID-19 pandemic.

SafeSourcing was able to successfully source label products for a client, in the midst of this crisis. The label suppliers were ready and able to come through with significant savings over 35%. Organizations are learning a valuable lesson, which is to have a plan and stay ready. In order to get through this situation today, and to be ready for the future, we need more effective practices, products, and processes, increased services, technologies, and business models that are readily available to markets, governments and society.

This calls for better financial management, cost control and less organizational waste. Many organizations are beginning to re-evaluate their purchasing processes, and identify new types of e-procurement tools that will meet their needs. Find out what SafeSourcing can do for you.

For more information on how SafeSourcing can assist you in exploring your procurement solutions for your business efforts, or on our Risk Free trial program, please contact a SafeSourcing Customer Service Representative. We have an entire team ready to assist you today.

We look forward to your comments.