Archive for the ‘Strategic Sourcing’ Category

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Procurement and Artificial Intelligence (Ai)

Monday, July 28th, 2025

 

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

Procurement and many other industries are undergoing a radical transformation, thanks to artificial intelligence. Specifically, procurement has been able to utilize ai tools in its sown unique way. In fact, procurement is now becoming a strategic driver of value and innovation with AI tools lending an ability  to play a central role in this evolution. From automating routine tasks to enabling predictive analytics and strategic sourcing, AI helps procurement teams save time, reduce costs, and make smarter decisions.

AI can analyze large datasets to uncover hidden patterns in spending. These tools consolidate data across departments, identify maverick spend, and highlight opportunities for savings. These tools can offer ai-powered spend analytics and can combine machine learning and data cleansing for added insight. AI tools continuously monitor supplier performance, financial health, geopolitical risks, and compliance issues. They can alert procurement professionals to potential disruptions before they happen.

Ai can also assist in other ways. Reviewing contracts manually is time-consuming, but AI tools can read and extract key terms, flag risky clauses, and ensure compliance with internal policies and regulations. These tools can assist in contract visibility and risk mitigation along with contract management.

AI may also lend a hand in supplier selection based on price, quality, lead time, and other variables, while some ai tools even simulate negotiation scenarios and recommend optimal outcomes. AI chatbots, virtual assistants, and robotic process automation can handle customer facing questions, purchase requisitions, invoice processing, and some follow-ups.

While AI tools offer major advantages, implementation can be complex. Organizations must ensure high-quality data, employee training, and system integration. Ethical AI use, transparency, and change management are also key concerns.

AI tools in procurement are not just a trend; they’re a necessity for organizations that want to stay competitive in a data-driven world. Whether you’re aiming to boost efficiency, reduce risk, or gain deeper insights, AI can empower procurement teams to deliver more strategic value than ever before. The future of procurement is intelligent and it’s happening now.

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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Prompts developed correctly are critical to benefiting from AI tool usage Part I of II

Thursday, June 19th, 2025

 

Today’s post is by Ronald D. Southard, CEO at SafeSourcing Inc

We have all heard about the impact that AI will have on jobs in the future. For some of us that time is now, for others maybe down the road a bit.

I have personally been using AI tools since they first became available. The speed at which it helps with all types of work is amazing. The tools are becoming better, smarter, faster, and more accurate every day. However, a caveat is that if you are trying to solve a business problem and have no experience in the industry or business area you are prompting to, you may create more issues than you solve for your company and your customers, because you do not know the right questions to ask to begin with. Experience does count even in the AI space.

In the procurement space where I work, there are many people blogging and writing about how to correctly use eRFX tools. Questions abound about the proper use of an RFI’s, RFP’s and RFQ’s. You may even have a desk full of finished examples of these processes. The question is, have you written one, supported one, evaluated one. If the answer is yes, have you done so across multiple industries? Have you delivered the final results  through a written executive summary that recommends award scenarios  and next steps required to proceed to a contract.

If the answer to any of the above is yes, then maybe you can write a Prompt that will deliver clean results in a usable format that may save your business time and save your customer money and potentially process improvement. If the answer is no, how can you write a good Prompt  to begin with and how will you know if the answers being provided by your AI tool of choice are correct.

Once you develop a great Prompt, what do you do with it? That’s a question we’ll answer tomorrow in Part II.

SafeSourcing is a Procurement as a Service (PaaS)  provider of a number of e-Procurement solutions and associated white glove services that are part of our PaaS offered SafeSourceIt™ eSourcing suite. We have the tools, we have the knowledge, we have the experience, and we have the AI prompts that deliver results.

To learn more, please contact a SafeSourcing customer services associate.

 

 

 

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Procurement and Smarter Purchasing!

Tuesday, June 17th, 2025

 

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

In today’s business environment, eProcurement is no longer luxury but rather a necessity. But jumping in without a plan can lead to disjointed systems, inconsistent compliance, and missed savings. That’s why eProcurement planning is critical for organizations aiming to streamline purchasing, enhance transparency, and drive long-term value.

The process of designing, coordinating, and implementing an effective e-procurement strategy involves evaluating current procurement workflows, identifying technological needs, aligning stakeholders, and setting measurable objectives for automation and improvement. This ensures that the technology is integrated into the broader supply chain and business objectives.

First, an organization should begin with a thorough review of existing procurement practices, including manual processes, bottlenecks, supplier relationships, and current spend visibility. This baseline is essential for identifying pain points and setting goals. Procurement doesn’t operate in a vacuum. Involving finance, IT, legal, and departmental users in planning helps secure buy-in and ensures the solution meets cross-functional needs.

Next is to determine whether your goals are to reduce spend, shorten procurement cycles, or increase supplier diversity, establishing clear Key Performance Indicators (KPIs) will help measure progress and ROI. Choosing an e-sourcing platform and partner, like SafeSourcing, that supports your goal and considers features like e-sourcing, catalog management, approval workflows, and integration with existing ERP or finance system is essential to the success of the project.

A thoughtful eProcurement plan sets the foundation for a successful transformation. When done right, it aligns people, processes, and technology to unlock procurement’s full potential. Whether you’re modernizing a legacy system or implementing eProcurement for the first time, planning is what turns automation into advantage. By approaching eProcurement with strategy and structure, companies not only digitize purchasing — they empower it.

For more information on how SafeSourcing can help with 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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Roof Leaks and other Repair and Maintenance Projects

Tuesday, April 22nd, 2025

 

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

I have been reposting this BLOG from a while back because when this was written we had our leak fixed or at least we thought we did.  A few months after having the work completed, we noticed another wet spot and realized that the work we had done did not take care of the issue.  Luckily, we did not patch the small hole or paint the stained areas around the leak.  Now we are looking for another company to come out and do the job correctly.  It just shows how important it is to research the companies carefully and vet them appropriately before hiring them.

If you’ve never had a roof leak in your home or business, then you don’t know how frustrating it is to look up and see a brown spot or spots on your ceiling.  If this is not taken care of immediately it can end up costing you a lot of money.  Eventually the ceiling where the spot is located will break open and the water will leak through.  It is also common for untreated leaks to lead to a serious mold or mildew problems.  This doesn’t only affect the area of the leak, but the spores caused by the leak can end up passing through your HVAC system and could lead to serious health issues for people with allergies, asthma or compromised immune systems.  If you see these water spots on your ceiling you should find a reputable roofing company to come out as soon as possible so that they can inspect your roof and make the appropriate fixes.  They will also do a full inspection of the roof and make sure that any other potential problems are taken care of as well.  Below are some of the common reasons for leaky roofs.

  • Improperly Driven Nails
  • Pipe Boot Failures
  • Debris in Gutters
  • Improperly Installed Skylights
  • Worn Out Collars around Gas Vents
  • Worn Out Flashing

If you think that your business may have roofs that are leaking or in need of repair or replacement, contact SafeSourcing.  We can gather all the necessary information and help you decide which company best meets your maintenance and repair 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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Procurement and Tariff Increases

Friday, April 18th, 2025

 

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

In an ever-challenged economy, procurement professionals are no strangers to volatility. One of the most impactful—and unpredictable—variables in recent years has been the rise in tariffs. Whether due to trade disputes, geopolitical tensions, or efforts to protect domestic industries, tariff increases are reshaping how organizations approach procurement.

Tariffs, essentially taxes on imported goods, directly increase the cost of affected items. For procurement teams, this can quickly escalate total spend, especially if critical materials or components are sourced internationally. Tariff-related cost hikes can blow through carefully planned budgets, especially for long-term contracts negotiated before tariff changes. Suppliers in tariff-affected regions may raise their prices or pass on additional costs to buyers. Frequent changes in trade policy make it difficult to forecast and plan procurement strategies with confidence.

To mitigate the impact of tariff increases, procurement professionals can adopt more agile and strategic approaches. Relying too heavily on suppliers from a single country or region increases vulnerability. Diversification helps reduce exposure to tariffs and supply chain disruption. For instance, if tariffs rise on goods from China, sourcing alternatives in Vietnam, India, or Mexico could offer relief. Some organizations are reevaluating their global sourcing strategies altogether. Bringing production closer to home—or at least to regions with favorable trade agreements—can reduce tariff exposure and shorten lead times.

Changing markets reinforce the need for changing contracts as well. Many companies are renegotiating terms to include clauses that account for tariff changes, allowing for cost-sharing or pricing adjustments in response to policy shifts. Focusing on purchase price alone is no longer sufficient. Procurement leaders must also factor in tariffs, shipping costs, lead times, and risk factors—to evaluate the full cost of sourcing decisions.

Tariffs are just one of many forces reshaping global procurement, but their impact is profound. With the right strategies in place, procurement partners, like SafeSourcing, can help your organization not only weather the storm but also thrive.

For more information on how 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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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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Procurement at Christmas

Tuesday, December 17th, 2024

 

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

When most people think about Christmas, they envision twinkling lights, cozy sweaters, festive meals, and the joyful exchange of gifts. But beneath the sparkle and warmth of the season lies a bustling world of planning, logistics, and procurement. Whether it’s stocking stores with toys, ensuring turkey makes it to the table, or managing corporate holiday gifting, procurement professionals are the unsung heroes of Christmas.

From the bustling aisles of retail stores to the merry melodies of online checkout carts, procurement plays a crucial role in ensuring the products and experiences that define Christmas are delivered seamlessly. Behind the scenes, professionals are negotiating contracts, monitoring supply chains, and mitigating risks to ensure that stockings are filled, and tables are set. Procurement starts long before the holidays arrive. Retailers must forecast demand months in advance, securing deals with suppliers for toys, decorations, electronics, and clothing. A miscalculation in procurement could mean shelves are bare on December 24th—or worse, warehouses overflow with unsold inventory come January.

Holiday meals are central to Christmas celebrations, and procurement ensures the turkey, ham, cranberries, and all the fixings make it to households across the globe. Restaurants, supermarkets, and food producers rely on precise forecasting and resilient supply chains to source perishable ingredients. Procurement teams must address seasonal spikes, potential shortages, and weather disruptions—especially during the winter months. The same principles apply to Christmas treats: chocolates, cookies, and candy canes all require raw materials like sugar, cocoa, and dairy. A kink in the supply chain could lead to a very un-sweet holiday.

So, this Christmas, as you admire a beautifully stocked store, open your gifts, or enjoy a festive meal, take a moment to appreciate the invisible network of procurement, supply chains, and logistics that made it all possible. So, here’s to the procurement professionals who keep Christmas running smoothly because without them, Santa’s workshop wouldn’t stand a chance!

For more information on how 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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Want to be more Efficient? Here are some MSFT Teams application shortcuts.

Thursday, November 21st, 2024

 

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

Are you utilizing the Teams application shortcuts?

A while back I wrote a BLOG on how to utilize the shortcut keys for Zoom.  Since then, Microsoft Teams has become a lot more popular tool used by professionals.  If you spend a lot of time using the Teams application, you could save some time and be more efficient by learning some of the built-in shortcuts.  The keyboard shortcuts are used by clicking a combination of the keyboard keys.  Two things that you probably do most often while using Teams can be done by using the shortcuts “Alt+Shift+V” and “Ctrl+Shift+H”.  These two shortcuts allow you to start a new video call and to end the active video call.  Besides these two shortcuts there are many more shortcuts available for use.  For example, using “Ctrl+Shift+K” will allow you to raise or lower your hand and “Win+Alt+K” will allow you to toggle mute during a meeting.  Memorizing the available keyboard shortcuts will make you more efficient because you don’t have to remove your hands from the keyboard to use the mouse.  Below are some other shortcuts that can be used.

Teams Shortcuts

  • Ctrl+Shift+A – Accept a Video Call
  • Ctrl+Shift+S – Accept Audio Call
  • Ctrl+Shift+D – Decline a Call
  • Ctrl+Shift+D – Start Audio Call
  • Alt+Shift+V – Start a Video Call
  • Ctrl+Shift+H – End Audio Call
  • Ctrl+Shift+H – End Video Call
  • Win+Alt+K, or, Ctrl+Shift+M – Toggle Mute
  • Ctrl+Shift+K – Raise or Lower Hand
  • Ctrl+Shift+Y – Admit People from Lobby Notification
  • Ctrl+Period (.) – Show Keyboard Shortcuts
  • Ctrl+E – Go to Search
  • Ctrl+Shift+F – Open Filter
  • Ctrl+Shift+N – Start a Chat in a New Window
  • Ctrl+Comma (,) – Open Settings
  • Ctrl+Equals sign (=) – Zoom In
  • Ctrl+Minus sign (-) – Zoom Out
  • Ctrl+0 – Reset Zoom Level
  • Cltrl+Alt+Shift+R – Report a Problem

Interested in learning how SafeSourcing can help your company run more efficiently?  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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