The event is over, savings were good, and reports are almost done. What’s next?

Today’s post is by Robert Rice, Account Manager at SafeSourcing.

For me, I will spend the next couple of days reflecting back on what I could have done differently. Was all of the data correct and how will I use that knowledge to perfect the next event.

Reflect

I like to do an assessment on how the event went. I ask the project manager and our Director of Sales, Dave, their thoughts. Both have been at this awhile and have helped me better understand how the event went and address any issues. They ask me what I would have done different or did we have the right suppliers and enough coverage? I also like to hear the client and supplier feedback from SafeSurvey that is sent post event. This highlights specific things they liked or disliked.

Correct

The next step is to note where improvements need to be made and start implementing these changes immediately. i.e. Better vetting suppliers, better contacts, have I continued to update the documents, complete coverage from more than (2) suppliers, did I create a spreadsheet breaking down the numbers, are my specs correct, are the dates correct, is my checklist up-to-date, have I had my documents seconded eyed, third eyed?

Perfect

Finally, having a perfect event isn’t as hard as it sounds. If you follow the process, do your research, get complete data, ask the right questions, and get others input, your event should be a grand slam.

Robert, or any member of the experienced team at SafeSourcing, would be happy to discuss how SafeSourcing can help you with your eProcurement planning. For more information, please contact SafeSourcing.  

We look forward to your comments.

Today’s post is by Dave Wenig, Director of Sales, North America at SafeSourcing.

“How do I source this category?” We field this question often. It’s very common to find that a client selects a category, but it not entirely sure how to go about sourcing that category. Sometimes, the category is complex. Other times it’s a relatively simple category that just hasn’t been sourced in some time.

What makes sourcing challenging is the unknown. If you haven’t sourced a particular category in several years, you might not have a very well documented specification. You might also not know who the players are in that space or what market factors are influencing the price of the category. When sourcing a highly complex category, you may not know all of the different components that will need to be outlined clearly to prospective suppliers.

SafeSourcing has the experience to guide our clients through the unknown to develop successful eProcurement projects. SafeSourcing clients have access to a vast library of specification templates to help develop your specifications. We have a comprehensive supplier database with over 427,000 suppliers to identify the right vendors to include in your eProcurement RFx Event. Perhaps most significant is SafeSourcing’s category experience. We understand that you might only source each category annually or every few years, but we source that category all the time for our clients.

Because SafeSourcing understands the market, the vendors, and the specifications, we are uniquely positioned to help answer the question: “how do I source this category?”

For more information, please contact SafeSourcing.  

We look forward to your comments.

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

Years ago private label products were easy to spot on the grocery shelves. They were bland in color and referred to as “generic”.  Consumers considered private label products to be inferior to the colorfully packaged national brands.  Today there is a lot more emphasis on private label advertising and packaging.  Last year, store brand sales reached an all-time high of $118.4 billion, cornering 17.7% of the total market, according to the Private Label Manufacturers Association.

Advantages of national branded products:

• Name recognition, visibility and trust.
• Larger advertising budgets (tv advertising, print and digital advertising)
• With years of experience, branded products have worked out kinks in their supply chain (Ingredient sourcing, and manufacturing techniques).
• Better control over inventory orders.

Advantages of private label products:

• There isn’t a need to spend money on advertising, thus keeps costs down.
• A key source of revenue for a grocery store is to put their own private label product on the shelf next to a major brand.  On average private label brands produce 8-10% higher margins.
• Retailers can order products that they want and demand exactly what specifications they want.

Disadvantages of Private Label Products:

• There is more risk if a product doesn’t succeed.  Retailers have to invest in packaging, design, and ingredients in hopes that the product does well.  Less brand recognition.
• Retailers need a good private label manufacturer (some retailers will be dealing with many manufacturers) that provide good service and have good demand planning that is efficient.
• “If retailers want to drive more multicultural consumption of their store brand, they’ll need to improve their educational efforts around the offerings provided by their private labels, and tailor those offerings to the unique demands of multicultural families.”1

“The bottom line is it’s all driven by economics. It’s customers looking for better prices and still good quality.  It’s retailers looking for better margins.  It’s branded product manufacturers looking to fill up capacity, as well as the contract manufacturers.”2

1, 2 Carolyn Heneghan, FoodDIVE,, 11/7/16

For more information on SafeSourcing and how we can help you with your sourcing 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.

Today’s post is by Steven Belvin, Sr. Account Manager at SafeSourcing

With the winter weather creeping upon us, I feel it is best to crack a few myths about firewood. There have been plenty of myths when it comes to the world of firewood. We have heard everything from how to prevent bugs, to how to stack the wood. The three myths I will be covering are as followed:

1.  Keep firewood stacked close to your home.
2. Bring a lot of wood in now so you don’t have to go back outside.
3. Spray pesticides on the wood to kill pests.

Let us start by covering the first topic, “Keep firewood stacked close to your home.” This would make sense right? Why not put the wood as close to your house so you don’t have to walk as far to get it, especially on those cold winter nights. Wrong! Actually by keeping wood so close to your home you are raising the chance of attracting pests and other insects, such as wood destroying termites and carpenter ants. Attracting these bugs will not only be harmful to your firewood, but could also send them on a direct path to your home. Once these bugs get into your home, it will be a nightmare to get them out. It could cost you up to $2,500.00 to have an exterminator come out and get rid of those destructive little pests. Once the pests are gone, it can cost you up to $5,000.00 just to repair your home, assuming they did not cause permanent damage. Obviously this is something everyone is trying to avoid. So to crack this myth, it is best to store your firewood at least 20 to 30 feet away from you home and/or garage. You may have to walk to gather what you need, but at least you will not get termites in your home! Stay tuned to the next blog where I will be cracking one of the other two myths.

For more information on how SafeSourcing can assist your team with this process 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.

Resources——————————————-

“Firewood and Pests: 3 Myths | Plunkett’s Pest Control.” Plunkett’s. N.p., 02 Mar. 2016. Web. 17 July 2017.

Todays’s Post is by Eli Razov, SafeSourcing  Account Manger.

No not Francis Bacon the English philosopher, but that wonderful meat we all love. Don’t worry we kept the treat, but a lot of things have changed. Back in 2011, the CME decided to remove the Pork Belly from the trade floor because of its volatility and a few other reasons. What does that mean? Is this the end of pork trade? Where do I buy a Pig?

Let’s start at the beginning. Bacon is one of the oldest cuts of meat, going back to around 1500 B.C. It has been used in multiple countries and cultures. Around the 16^th century it was the European peasant food go-to because it is easy to produce and relatively cheap. This also goes for us Americans as well; we haven’t always loved or claimed this glorious breakfast staple as we do today. It wasn’t really until the mid to later 1900’s that we found our love.  In 1961 seeing the rise of demand the CME allowed Pork Bellies to be traded and that’s where we begin. The “pork belly contract” each consisting of 40,000 lbs of frozen trimmed bellies is how the CME decided to keep track of reserves. Ever since it rolled across that ticker, pork bellies have been a dramatic rollercoaster ride for investors. Everything from weather, feed, disease, other countries demands and even speculation have controlled and dictated this commodity. There have been many jokes made about the pork belly trade as well as movie appearances like in “Trading Places”. But like all good things, this too has come to an end. The country’s demand for pork bellies grew exponentially over the years and in 2010 the CME monitored warehouses were about 73 percent smaller than the previous year. This as we know is not good for most investors, seeing this drastic of a change means prices will skyrocket, but also mean the product can become extremely scarce. Well that was back when we had to freeze and keep in warehouses. But now most of what we consume is all fresh.  So in 2011 the CME decided to remove the Pork Belly from the commodity trade.

Never fear, bacon is not going anywhere.   In fact, we come up with new ways to use it every day. The CME has had “Lean Hog Futures” for many years, which are now the new pork bellies just under the same umbrella. The trade is going strong and our love for the succulent snack is ever growing. And if you are a true bacon lover, and maybe even dabble in investments, you can always go over to the CME website and put some stock in the things we love.

For more information on how SafeSourcing can assist you or on our “Risk Free” trial program, please contact a SafeSourcing Representative we have an entire team waiting to assist you today

References —————————–

1. http://bacon.wikia.com/wiki/Bacon_History
2. http://www.investopedia.com/terms/p/porkbellies.asp
3. http://www.minyanville.com/businessmarkets/articles/pork-bellies-pork-belly-futures-pork/7/18/2011/id/35803
4. http://www.cmegroup.com/trading/agricultural/livestock/lean-hogs_quotes_settlements_futures.html

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

Striving for improvement within an organization is essential for any company to strengthen and grow, but many times it can be difficult to discern where to begin. First knowing what to improve is the first step, but where does that idea come from?

Employee feedback – We all hope that our organizations breed open and honest communication, but unfortunately openly expressed concerns from employees doesn’t always happen. Reaching out to employees for their feedback on the their workload, daily duties, management styles, and work-life balance can not only help to ease the concerns of an individual employee, but can forewarn an organization of potential problems other employees may face. Addressing employee concerns can help to stabilize and strengthen the core of a business, encouraging teamwork and comradery.​

Customer feedback – Listening to customers is another important aspect of any business. If something happens with a customer base, the impact can hit the pocket of an organization hard. This kind of feedback can be found through comment cards, email, toll-free numbers, online surveys, and even customer interviews. It can be essentially important in business to find and address customer concerns before a customer decides to go elsewhere.

Research – Another great way to learn where an organization can use improvement is to look for outside sources. This can mean looking at processes of other organizations and determining if that process is something that could be implemented in your business, and whether it would have a positive or negative overall effect on both customers and employees. In addition to other organizations, looking at upcoming technologies and research can help a business not only stay up to date, but also ease the burdens on employees and customers alike.

While each method of obtaining information and ideas for improvement are instrumental in a growing business, utilizing all three methods will ultimately generate the most knowledge. Seeking feedback is essential in keeping employees, customers, and everyone else happy with an organization because without the knowledge, you would never know how far you could go.

For more information on SafeSourcing and how we can help your organization, or on our Risk Free trial program, please contact a SafeSourcing Customer Service representative.

We have an entire team ready to assist you today.

Today’s post is by Dave Wenig, Director of Sales, at SafeSourcing.

While the biggest reason that an organization sites as they begin to leverage eProcurement is to reduce costs and many first think of reverse auctions when they think of eProcurement, there are other benefits as well.

For example, when an organization is considering a complicated Request for Proposal (RFP) and want to understand much more than price alone, they often turn to their eProcurement partner for assistance. In fact, one of the more common misconceptions about eProcurement is that it does not work well for categories that are not commodities.

Actually, there are many reasons, including cost reduction to use eProcurement to better manage your RFP process for complex categories. The complexities may exist in the service requirements and might be considered difficult to quantify. They might also be in detailed technical requirements. These complexities create an even greater burden on a purchasing organization than other less complex categories.

A traditional RFP process can be cumbersome to manage internally. Beginning with the creation of the scope, requirements and other details, your team will typically have a heavy burden and are often under the additional pressure of a tight timeline. Then, once the RFP is ready the responses have to be solicited from vendors. From there, each vendor will respond, likely in varying formats and with varying levels of detail.Finally, all of these responses has to be reviewed thoroughly in order for decisions to be made. It is a substantial undertaking that will significantly tax your resources.

So then, what does eProcurement offer to address these challenges? First, you’ll have the guidance of your eProcurement partner in the creation and preparation of your online RFP. They will lighten the load for your team by taking on much of the burden associated with the process. Second, and this is a big one, your eProcurement partner will ensure that you’ll have vendor responses submitted and organized in a manner that allows for easy and efficient review and comparison of the vendor submissions including pricing. No more digging though vendor documents to align their response to your requirements. Each response is in its proper place for consideration. Third, you’ll have all of this at your fingertips electronically. Finally, you’ll continue to have support during your review process.

Dave Wenig is the Director of Sales, North America at SafeSourcing. Dave or any member of the experienced team at SafeSourcing would be happy to discuss many more reasons why our clients choose to host their RFPs online. For more information, please contact SafeSourcing.

We look forward to your comments.