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

If you own a smart phone, then you probably have heard of 5G. 5G is the fifth-generation of mobile communication networks technology. Currently most users are using 3G or 4G/LTE networks which were introduced over ten years ago. Like other generations of wireless technologies before it, 5G will offer faster speeds, more reliable cellular and internet connections. The data transfer speed is projected to be about twenty times faster than what is currently possible with 4G. This will mean a significant difference in sending and receiving videos and images. For example, downloading a high-definition movie that takes about ten minutes via 4G/LTE should take less than ten seconds to download. Along with the faster connectivity you will also have increased connectivity. This will allow for more devices to communicate at the same time and will decrease the amount of dropped signals that we now observe. There will also be shorter communication delays, called latency, that you currently see with the current networks. This lower latency is expected to help 5G deliver mobile networks that could allow us to implement new things such as multiplayer gaming, self-driving cars, and robots. These are things that the current networks struggle with or cannot handle at all. Of course using this new network will require you to upgrade your devices so that they can support 5G. Below are some of the capabilities that 5G will help to unlock:

• Self-driving cars
• More Reliable Drones
• Enhanced Virtual Reality
• Guaranteed Phone Connection
• Remote Surgery
• Home Broadband

If you are interested in upgrading any of your electronic devices, feel free to contact SafeSourcing. We can gather all the necessary information for you and help you decide which devices meet 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 Heather Powell, Director of Major Accounts and Special Projects at SafeSourcing Inc.

So you have decided that you are going to take your BBQ Sauce out to market. You have vetted co-packers abilities to make your product and market it to your standards, BUT how do you ensure they keep your recipe secret and not market it for themselves?

“A non-disclosure agreement (NDA) is a legal contract between two or more parties that signifies a confidential relationship exists between them. The confidential relationship exists because the parties share information among themselves that should not be made available to any other parties outside of those involved, such as competitors or the general public or. An NDA may also be referred to as a confidentiality agreement.”1

Confidentiality agreements typically serve three key functions:

1. NDAs protect sensitive information. By signing an NDA, participants promise to not divulge or release information shared with them by the other people involved. If the information is leaked, the injured person can claim breach of contract.2
2. In the case of new product or concept development, a confidentiality agreement can help the inventor keep patent rights. In many cases, public disclosure of a new invention can void patent rights. A properly drafted NDA can help the original creator hold onto the rights to a product or idea.2
3. Confidentiality agreements and NDAs expressly outline what information is private and what’s fair game. In many cases, the agreement serves as a document that classifies exclusive and confidential information.2

Protect yourself and your proprietary product! When in doubt hire a lawyer to review your NDA and don’t just sign any co-packer’s “standard” NDA without reviewing with a lawyer. This ensures no matter what that your product remains under your control.

In part five of this series, the author will provide the steps for taking a proprietary product out to the procurement market. Meanwhile, SafeSourcing can assist you in exploring your procurement solutions for your proprietary product on our “Risk Free” trial program for RFPs and RFQs, 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.

References:

1. www.investopedia.com/terms/n/nda.asp 2. https://www.rocketlawyer.com/article/nda-101:-what-is-a-non-disclosure-agreement.rl

Today’s post is by Gayl Southard, Administrative Consultant at SafeSourcing, Inc.

Coca-Cola Chief Executive, James Quincey, has announced the launch of Coca-Cola Plus Coffee in 25 markets by the end of the year. This product appeals to people that want more of an energy boost than just a regular Coke. It also provides a new taste. Coca-Cola acquired the British coffee-shop chain, Costa, in the first quarter of 2019 for $5.1 billion. Plans to launch the first ready-to-drink Costa product is set for this spring. Costa serves roughly 3,800 cafes currently. There are 2,500 in the U.K. and an ever growing presence in China. Coca-Cola owns an 18.5% stake in Monster, the leading energy drink in the U.S. Monster said the launch of this product is in direct violation of an agreement struck in 2015. The companies are currently in arbitration.

Meanwhile, Coca-Cola Energy drinks will be launched in Europe. The company has diversified beyond soda into water, coffee, juice and other drinks. A reformulated Coca-Cola Zero Sugar grew by double digits this last quarter. The February launch of Orange Vanilla Coke was the first new flavor in a decade, increasing retail sales by 6%. Monster and Red Bull energy drinks are big in the U.S. and Europe. This market is expanding rapidly and the opportunity to to create drinks that blur the lines between energy drinks and cola is a great marketing opportunity.

PepsiCo Inc. is also trying new brands with three new flavors in the U.S. that contain real juice — berry, lime, and mango. New package designs have also been developed.

For more information on how SafeSourcing can help in 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……………………………………………………………

Jennifer Maloney, WSJ, 4/24/2019

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

Retail sales for 2019 have been on an up and down swing from January to April. Sales rose by .2% in January and went down .2% in February, followed by a big 1.7% jump in March, and now a .2% drop in April. Economists are not sure how to gauge the mood of consumers this year, as if they have ever.

The retail industry has had to constantly reinvent itself to keep up with the ever evolving market. Brand loyalty is not enough to keep customers engaged, in our extra competitive ecommerce environment. Whether online or in-store, retailers need to find ways to up their game in order to attract customers’ attention.

Most millennials are seeking a more engaging experience rather than merely shopping for products. Companies will have to consider the image their brand conveys to the world, and work to create retail experiences that match consumers’ changing values and world views. Many shoppers will research consumer reviews before ever making a purchase.

When it comes to fulfillment, customers are looking to get their products fast and free. I can recall 30 years ago when Sears didn’t have the product available in the local store, I could opt to order it from the catalog and patiently wait for it to arrive…about three to four weeks later. These days consumers are used to being able to order an item and have it delivered within a day or two. This can be a deal breaker for some, so cutting down on shipping time is a major consideration.

BigCommerce’s 2018 Omni-Channel Retail Report found that only 11.8% of Gen-Z shops on Facebook, while nearly 25% of Baby Boomers shop on the social platform. Millennials, meanwhile, prefer to buy products they discover on Instagram and Snapchat. Convenience, price, and free shipping were the top 3 reasons U.S. consumers across all generations chose to buy an item at a branded online store. Brand reputation and loyalty rewards were close 4th and 5th reasons.

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.

References…………..

https://tradingeconomics.com/united-states/retail-sales

https://www.stellarising.com/blog/consumer-trends-2018-brands-inside-the-glass-box

The 2019 Omni-Channel Retail Report: Generational Consumer Shopping Behavior Comes Into Focus

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

The global market is something we all rely on in a number of different ways. Whether for personal use or business use, we each rely on products that are bought and sold throughout the world. Part of the global market includes trade between different countries, which can be susceptible to tariffs. Tariffs are nothing new, so how should a business handle the looming tariff increases and what can we do to better prepare ourselves?

One thing many businesses do to avoid tariffs, specifically between two countries, is to simply move to another country. For example, if there are increased tariffs between American products going into China, many businesses may move their production from America to another country, like Mexico or Canada, and import those same products, but with those tariffs.

Another way businesses try to avoid paying extra tariffs is by simply minimizing the market they use. For example, if a company normally buys steel from overseas, they may now seek purchasing within the same country to avoid paying the extra tariffs, which can actually be less than they were spending initially.

No matter how a business handles changes in the global market, a procurement partner may be the best way for a company to obtain the products they need without sacrificing quality. A company like SafeSourcing can even help you obtain the same goods, but at an even lower price, helping your company’s spend and overall help your organization thrive in times of change.

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.

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

According to Wikipedia a Group Purchasing Organization (or GPO) is an entity that is created to leverage the purchasing power of a group of businesses to obtain discounts from vendors based on the collective buying power of the GPO members.

When is a company a GPO and when are they something else? Many organizations take on procurement functionality based on the spend of their members. They can be industry wholesalers, share groups, consortiums, distributors and a variety of other types of organizations. They may take on all procurement opportunities or specific opportunities like energy. GPO’s can be vertically focused or horizontally focused. They can also be horizontally focused within an industry vertical. An example might be a wholesale grocer that is focused on a retail industry vertical like supermarkets.

The question is should you join one or many? Maybe you shouldn’t join any. The only way to answer the question is to understand your own organization in terms of its strengths and weaknesses relative to the products or services categories you hope to source. As an example; if you are just buying from a wholesalers price book, it’s a good bet you are not getting the best price. It’s also a good bet that other members of the same wholesaler are getting a better price and they may be smaller than you. However you may also have a huge energy spend and this is something that your product wholesaler can’t help you with. As such, there may be a specific GPO for energy that can offer some expertise.

This author believes that your best bet is to focus on a procurement company that is horizontally focused with specific expertise in a number of verticals such as health care, retail, distribution, financial services etc. I have often seen these companies significantly out perform GPO’s by a significant amount as the overall overlap of expertise across multiple industries suggests a level of creativity that GPO’s may not have.

Ultimately understanding what your company’s limitations are as well as the opportunities that are available to you is a first and important step. After that, it’s who can do the most for you with the least disruption across the broadest area of spend.

SafeSourcing is such a company. Please contact a SafeSourcing Project Manager  if you would like further information on how to improve your bottom line in the present quarter.

We look forward to and appreciate your comments.

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

Have you noticed a green tinted staining on the outside of your home or business? If so, you may not know that this could be mold or mildew. This is a very common occurrence if you have vinyl siding. Dirt can accumulate on the siding and this can lead to the mildewing because mildew feeds on dust and dirt. If your home or building is close to trees it may also cause mildewing as well. Another reason for the mildew or mold is excessive moisture or lack of sunlight. Because of this you may notice that the staining may only occur on certain areas of the structure and not the entire surface. Removing the mildew can be very simple to do. One of the most common ways to remove the staining is to have the area pressure washed. There are companies that specialize in pressure washing and can do an excellent job of removing the stains. You can also choose to pressure wash the area yourself. Pressure washers can be purchased from many common retailers and are fairly inexpensive. Deciding to do this can save you money but there are some hazards of doing it yourself. Having the pressure set to high can cause water to seep into the walls of your existing structure causing mold to grow within the structure. So if this is something that you decide to do yourself, make sure to research and read all documentation before beginning the job. Below are other things to be aware of when pressure washing your structure:

• Risk of electrical shock
• High pressure water can cause serious injuries to skin
• Strong spray can throw small objects
• Water seeping into the attic
• Siding loosened or damaged
• Damage to windows and screens
• Accidental Removal of paint
• Accidental Removal of mortal between bricks
• Damages to surfaces

Whether you plan to clean the structure yourself, or hire a company, 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 Margaret Stewart, Manager of HR and Administration.

There are a lot of things happening now that have people excited. From first ever pictures of a black hole, upcoming movies and television, your recent money savings or accomplishments, $100m Fortnight championship, to your upcoming holiday plans, there is so much to help you feel the hype. Let us take a moment and appreciate all the work that made these things happen.

Hype: A simple picture, one that would not be recognizable before, has made headlines because it is the first of its kind – an actual picture of a black hole. Not only is it amazing to see and confirms Einstein’s theory of general relativity, but astounding when we consider the efforts put forth to make it happen. Thousands of hours of work, hundreds of thousands of computer codes, millions of light years between us, yet it can and has been observed and photographed. ​

Hype: What’s new to watch? Feel the hype because the final season of Game of Thrones is here and so is the final Avengers: End Game along with other movies in the Marvel Cinematic Universe. On top of that, there are many other highly anticipated movies and series, like the live action Dumbo movie, a return of The Twilight Zone, and Stranger Things. These exciting shows have been in the works for quite a while the time has finally arrived that we can reap the rewards of the hard work of so many.

Hype: If you get hyped when you save money, then here’s news for you. Using a procurement partner, like SafeSourcing, can save you even more. In fact, those who use SafeSourcing typically see 10x ROI. Not only can you save money, but you can get the quality and service you really want from people you may not have known existed. You can feel the hype and see the savings, and SafeSourcing can do the work for you. We will work with your procurement department, buyers, and finance people to help get the results that we can all feel excited about.

For more information on how SafeSourcing can help in 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.