Archive for the ‘Strategic Sourcing’ Category

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Offshore, Nearshore, No Shore.

Thursday, December 28th, 2023

 

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

You might be surprised that during the last year the US increased import of Mexican manufactured goods by nearly 60% according to an article titled Global Trade is Shifting, Not Reversing in a January 3rd issue of the Wall Street Journal by Stephen Wilmot. I wonder how much of that even had to be put on a ship, hmmm? No child labor, hmmm? Quicker delivery times, hmmm? Here’s to North America!

Now, a simple question for all companies that are interested, is how do you find these manufacturers and other suppliers and distributors in North American (US, Mexico, Canada)? The simple answer is to contact SafeSourcing and ask about our  SafeSourceIt™ Global Supplier Database  that includes over 557,000 global vendor/suppliers.

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

References: Wall Street Journal, Stephen Wilmot

 

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So, what happens with the evolution of Artificial Intelligence, Quantum Computing and Crypto?

Wednesday, December 20th, 2023

 

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

Do you need Artificial Intelligence (Ai) to write your business plans for you, or Quantum Computing to come up with your next strategic plan? Will you report your earnings in Crypto like Bitcoin (BTC) or Satoshi instead of dollars?

As we close out 2023, these are some of the questions I ponder as everything in our world evolves at greater than the speed of light. Who knows, maybe I’m strange, but this is a fascinating time to be alive.

I can’t just do my job of running our managed service eProcurement Company SafeSourcing without considering these things. Just imagine when Quantum computing and Ai come together to provide you will all the questions you haven’t asked almost before you think of them. The speed of an Ai layer at quantum speed might just be able to do that. Assume you ask your Ai interface a very logical question on a thought process you are having regarding your product and or process evolution and the Ai interface provides you a very detailed answer and then presupposes your next question and answers it and so on.

If you are a leadership person with the responsibility of maintaining your company’s viability, you have to think how these evolving technologies will impact how you do business. If you don’t you won’t be here.

Here are a few questions that might let you know if you are keeping pace.

  1. What is digital gold?
  2. Who is Satoshi Nakamoto?
  3. What is Satoshi?
  4. What is a Qubit?
  5. How does a Qubit work?
  6. What is the fastest Qunatum computer in the world?
  7. What companies and countries are focused on Quantum computing
  8. Does the Macro financial world impact Crypto in the same way it does the stock market?
  9. What is the temperature of a quantum computer?
  10. How long does it take to settle an international transaction with Bitcoin (BTC)?
  11. How safe will data be at quantum speeds?

If you know all of the answers, congratulations. At SafeSourcing we are looking at all of these technologies so that we continue to be the best provider of eProcurement solutions for our customers.

SafeSourcing is a Procure to Pay Managed Service provider of a number of e-Procurement solutions and associated white glove services that are part of our cloud based SafeSourceIt™ eSourcing suite.

For more information, please contact a SafeSourcing Customer Services Associate.

 

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Are your fleet drivers both full-time and temporary, prepared for emergencies?

Tuesday, December 19th, 2023

 

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

 

My daughter recently went on a road trip up north and it reminded me of this BLOG that I posted a few years ago.  She and a few friends were going to Cleveland to watch an NFL game and they decided to stay the night and visit a few attractions while they were there.  After she left it occurred to me that she does not have an emergency kit in her car.  Luckily, everything went smoothly, and they made it there and back safely.  But keep in mind, if you are going on road trips especially in the winter months, it is a good idea to carry along an emergency kit just in case you run into trouble.

If you have been driving for a while you know that unexpected things can happen.  Most of us spend hours in our cars and don’t think twice about emergencies that can occur while on the road.  These emergencies may not even involve you and your automobile.  With all of the traffic and congestion on the roadways it is possible that you could end up stuck for hours because of bad weather or accidents.  It is important to be prepared and ready for these unexpected problems.  One way to prepare yourself is to have an emergency car kit in all of your vehicles.  These kits can be purchased, or you can make your own kit stocked with all of the necessary items.  These emergencies don’t always happen in convenient places where cell phone service is available, and a tow truck is nearby.  Therefore, you need to be prepared for any conditions that may occur.  Below are some suggested items that you should include in your emergency car kit.

  • Jumper Cables
  • Tool Kit
  • First Aid Kit
  • Fire Extinguisher
  • Reflective Warning Triangles
  • Tow Strap
  • Foam Tire Sealant
  • Gloves
  • Flashlight
  • Duct Tape
  • Cell Phone Charger
  • Warm Blanket
  • Windshield Ice Scraper
  • Drinking Water
  • Non-Perishable Snacks

If you need help researching emergency kits for your vehicles, feel free to contact SafeSourcing.   We can gather all the necessary information for you and help you decide which kit 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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Holiday Shipping

Tuesday, December 12th, 2023

 

Todays timely repost is from our Newsletter Archives and was written by Gayl M Southard former VP of Administration at SafeSourcing Inc.

According to Santa’s Elf Grumpy, many people want to know how Santa makes it around the world in just 24 hours. Some speculate it’s a government conspiracy, its Santa’s magic dust, perhaps Santa rides the magic of Christmas, could it be the theory of Santa-Relativity, the Naughty/Nice Matter/Anti-Matter, time bending, or time warping. There’s only one slight problem, Grumpy can’t tell you how Santa does it. (And he’s not even being grumpy about it!)

Have you heard of time zones? Well, Santa uses them to cheat — on time! He takes advantage of the Earth’s time zones! He starts by delivering presents at the International Date Line and travels west following the Earth’s rotation around the sun. By doing that he gains many, many extra hours of time. Children are actually waking up and opening presents while Santa is still delivering! Did you know that, if you live in the U.S., today is already tomorrow in Australia? Likewise, when Santa is in Australia, it is already yesterday in the U.S. This is a handy trick to know when you’re Santa Claus! So now you know the secrets to Santa delivering presents! And now you know how fast Santa can travel. You even know how Santa gets around the world in one night! Just please don’t tell everyone. I don’t want people appearing and disappearing all over the place like they were Santa Claus delivering all the presents!

If you’d like some help with your procurement or supply chain needs, please contact SafeSourcing. We’ll treat you with the same spirit in which this post is written.

References

Bob Tita, WSJ, 10/28/2021

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Have you seen the new features and Artificial Intelligence (Ai) coming in Google Maps?

Monday, November 20th, 2023

 

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

As you probably know, Google Maps is one of the most popular navigation applications in the world.  If you haven’t heard Google Maps got a massive new AI upgrade recently and added 5 new features that makes it smarter and more helpful than older versions.  One of the new features and probably one of the most impressive is the Immersive View feature.  This feature allows you to see your routes from the street level in an amazing 3D view.  This new feature allows you to get detailed and realistic views of your surroundings, landmarks, and directions before you even begin your trip.  Using this feature is very useful when your trip involves complex or unfamiliar areas where most people may get lost by the confusing directions or surroundings.  This feature works by allowing you to preview every step of your trip whether you are driving, cycling, or walking.  For example, if you wanted to take a scenic bike route, you would just request cycling directions to the destination and then tap Immersive View preview to see your route in a stunning, multidimensional view from start to finish.  Doing this can help you prepare for each turn as if you were there with detailed, visual turn by turn directions.  It has a time slider that you can use to view helpful information like weather conditions and simulated traffic.  This will allow you to avoid taking the trip during bad weather or during heavy traffic times.  Below are some of the other new features.

  • Google Maps Search with AI
  • AI enhanced Google Maps Navigation
  • Added EV Charging Station Info
  • Lens in Maps Feature

If you are looking to purchase new smartphones or devices for your company 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.

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The Vital Role of Procurement Services in Business Success

Friday, November 17th, 2023

 

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

In the complex ecosystem of modern business operations, the role of procurement services stands as a linchpin for organizational success. Procurement, often regarded as a behind-the-scenes function, plays a pivotal role in driving efficiency, cost savings, and sustainability within businesses across industries. It encompasses the processes involved in acquiring goods, services, and works from external sources.

Driving Efficiency and Cost Savings

At its core, procurement is about optimizing the purchasing process to ensure the right resources are obtained at the right time and at the best possible cost. Leveraging procurement services allows businesses to streamline their supply chain, negotiate favorable terms with suppliers, and source high-quality materials or services while minimizing expenses. This efficiency not only impacts the bottom line but also enhances operational agility.

Strategic Decision-Making

Procurement services extend beyond mere transactional activities. They involve strategic decision-making that aligns with a company’s overall objectives. Procurement professionals evaluate supplier performance, assess risks, and identify opportunities for innovation and collaboration. This strategic approach helps in fostering long-term relationships with suppliers and mitigating potential disruptions in the supply chain.

Mitigating Risks and Ensuring Compliance

In an increasingly globalized marketplace, navigating through various regulations, compliance standards, and ethical considerations is a complex task. Procurement services play a crucial role in mitigating risks associated with supplier relationships, ensuring adherence to regulatory requirements, and maintaining ethical sourcing practices. This not only safeguards the company’s reputation but also reduces potential legal and financial risks.

Fostering Innovation and Sustainability

Procurement services contribute significantly to fostering innovation and sustainability initiatives within organizations. By engaging with suppliers to identify environmentally friendly materials or sustainable practices, businesses can reduce their environmental footprint and align with evolving societal expectations. Collaborating with suppliers on innovation leads to the development of cutting-edge products or services, giving companies a competitive edge.

Enhancing Supplier Relationships

Effective procurement services are built on strong supplier relationships. Cultivating partnerships based on mutual trust and understanding fosters collaboration, flexibility, and responsiveness. Strong supplier relationships often result in preferential treatment, better terms, and a more agile supply chain network, ultimately benefiting the organization’s overall performance.

The importance of procurement services cannot be overstated in today’s dynamic business landscape. Beyond simply acquiring goods and services, it plays a multifaceted role in driving efficiency, mitigating risks, fostering innovation, and ensuring compliance. Businesses that prioritize robust procurement strategies position themselves for sustained growth, resilience, and competitive advantage in the market.

For more information on what the SafeSourcing Procurement Managed Services team can offer you, 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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Bankruptcy is not fake news, and you might be next if you don’t pay attention.

Thursday, November 9th, 2023

 

Today’s post is by Ron Southard, CEO at SafeSourcing.

I read an article today on TheStreet.com by Kirk O’Neil titled Beloved fast-food chain files for Chapter 11 bankruptcy. Quite frankly it took a while to figure out what chain the article was referring to because it spent a lot of the article talking about the problems Rite Aide is having who also filed for Chapter 11. Then it went on to talk about  a furniture company that had to close 27 stores in 14 states and ultimately had to file for Chapter 7 liquidation.

The article did finally mention a restaurant chain that had to file for chapter 11 because sales have not recovered from the Covid Pandemic. How often have we heard this?

The fact is the fast-food sector of the retail is suffering, the model has changed quite a bit. How often do you go inside your favorite location to order your food (it is faster). Most of the takeaway or to go traffic is done through the drive-up windows. I’m pretty sure we are going to start seeing them again in the c-store space as they continue to try and capitalize on fresh food offerings, some of which have become outstanding. Even food service distributors are shifting their attention to the c-store vertical as a new source of business.

So, what’s the point? There is a lot of pain in all retail, it’s a war for the customers reduced spending. Thank the FED, The current Democrat Administration, and the Banks for that. However, where there is pain there is opportunity. If you look for it, it may just save some jobs or pay for that new self-checkout because you can’t find enough staff  for the shift work in 24-hour operations.

If you ask, you can find lower prices on just about everything. Capital Projects, Cost of Goods and Expense. Here’s the thing, you are understaffed for the job you have to do. There are other projects that the company will never get to.  You don’t have the time to do it yourself. That’s where SafeSourcing comes in. We know the categories as well or better than you do. We know where all of the suppliers are and have relationships with them, that you do not.

If you wan to reduce costs, I mean really reduce them so you can afford to do other things, Contact SafeSourcing. We guarantee our work, and our ROI is often greater than 10X and immediate.

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Did you win Monday night’s Powerball?

Wednesday, October 4th, 2023

 

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

While I can’t provide the customer’s name, they are NOT a $5B retailer per yesterday’s posts example. However, they are smart and focused and may well be some day. They took SafeSourcing up on our No Risk Offer. Their ROI will more than pay for their contract moving forward. Most procurement teams do not believe these types of results are possible in the current economy. Most of your teams will tell you this is a waste of time. I’ll bet you could use another $338K right now.

Here are the results:

  1. Expense Category: Pilot Event Number One:
    1. Savings $298,270.80
  2. For Resale Category: Event Number Two:
    1. Savings $40,072.32
  3. Total Savings: $338,343.12
    1. ROI 26X

You can still test me, if you’d like, this link will come directly to me. Your team will tell you this is not possible. I guarantee that your odds are better than 1 in 292 million to win Powerball.

SafeSourcing is a Procure to Pay SaaS based provider of a number of e-Procurement solutions and associated white glove services that are part of our SaaS offered SafeSourceIt™ eSourcing suite. These include but are not limited to SafeContract™, SafePO™, SafeDocument™ and our SafeSourceIt™ Global Supplier Database that includes over 557,000 vendor/suppliers.

For more information, please contact a SafeSourcing Customer Services Associate.

 

 

 

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How does your company protect their important non-contract documents?

Tuesday, September 12th, 2023

 

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

How does your company protect their non important noncontract documents?

Every company, in fact every individual has important documents that they would like easy access to as well as tracking and check in and checkout sharing features to maintain continuity and history of use. While maybe not to the degree of a contract, but then again why not?

SafeDocument™ is a document repository that allows companies to collaborate on documents through an online tool that is a cloud-based SaaS offering available through simple internet access. This tool Provides document sharing and collaboration options where users can organize, edit, protect, and track their documents.

SafeDocument™ includes safety features and controls that enable users to safely share large files across their organization, including the ability to save and recall multiple versions of a document and a notification system that alerts users when changes to the document have occurred.

Implementing SafeDocument™ provides companies with a cost-effective alternative to enterprise content management solutions that is safe and easy to use.

SafeSourcing is a Procure to Pay SaaS based provider of a number of e-Procurement solutions and associated white glove services that are part of our SaaS offered SafeSourceIt™ eSourcing suite. These include but are not limited to SafeContract™, SafePO™, SafeDocument™ and our SafeSourceIt™ Global Supplier Database that includes over 557,000 vendor/suppliers.

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

 

 

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Case Cubes and Full Load Shipments

Friday, September 8th, 2023

 

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

How does your company go about reducing your freight costs, and where do you start?

We all know that a full truck load versus less than a truck load will reduce the cost of your purchases primarily based on shipping costs. So how do you go about figuring this out?

You have to start somewhere so how do you define a case cube, and how many cubes does it take to create a full truck load? A case cube is a standard measurement used to calculate a shipping container’s volume. Calculating the case cube accurately is important in making sure that the warehouse space allocated for the shipment is sufficient. This is based on the size, rather than the weight of a shipping container. This is done by measuring the cases’ height, length, and width.

SafeSourcing is an eprocurement company that operates across multiple industries. As such we have specific experience in almost any commodity, service or capital related spend including shipping and freight costs. Our SafeSourceIt™ Global Supplier Database is an often used source for these alternate suppliers. To learn more, please contact a SafeSourcing customer services associate.

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