Archive for the ‘Strategic Sourcing’ Category

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Should Individuals and Company’s be switching to Hybrid vehicles?

Friday, June 16th, 2023

 

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

If you are in the market for a new vehicle and have been paying attention to gas prices lately you may want to investigate an electric or a hybrid.  If you want to stay on the cheaper side you may want to consider the hybrid over the fully electric because they seem to be better value at this time.  A hybrid vehicle can save you on gas because they can get over thirty-five miles per gallon compared to a standard gasoline engine vehicle, which is about a forty percent improvement.  This is done by combining an electric motor with a gasoline engine.   When driving, the vehicle can switch between the electric motor and the gas motor and during some conditions both are used simultaneously.  This results in less gas being used, which gives you a better fuel economy than vehicles that just have a gasoline motor.  The electricity used comes from a high voltage battery pack and does not have to be plugged in to charge because the charging occurs by the gas engine and by capturing energy from deceleration.  Therefor when making long trips you do not have to plan out where you may have to stop to charge the battery unlike a full electric vehicle.  Below are some of the advantages of hybrid vehicles.

  • Lower Fuel Costs
  • Immediate Torque
  • Tax Incentives
  • Lower Emissions
  • Possible Use of HOV Lanes
  • Lack of Idling
  • Value Retention
  • Dependability

If you need help finding new vehicles for your company, feel free to contact SafeSourcing.   We can gather all the necessary information for you and help you decide which 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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Logistics Service Provider

Tuesday, June 13th, 2023

 

 

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

Logistics outsourcing involves a relationship between a company and an LSP (Logistic Service Provider) which, compared with basic logistics services, has more customized offerings, encompasses a broad number of service activities, is characterized by a long-term orientation, and, thus, has a rather strategic nature.

An LSP is really what most people would see as a traditional 3PL provider offering a combination of warehousing and transportation services or one or the other. As global and multi-national providers enter the game, things have certainly changed, but the Logistics Service Provider at its core is fundamentally the same.

Third-Party Logistics Provider (3PL) involves using external organizations to execute logistics activities that have traditionally been performed within an organization itself. According to this definition, third-party logistics includes any form of outsourcing of logistics activities previously performed in-house. If, for example, a company with its own warehousing facilities decides to employ external transportation, this would be an example of third-party logistics. Logistics is an emerging business area in many countries.

If you’d like to learn more about how SafeSourcing can assist in managing your selection of a variety of logistics issues, please contact a SafeSourcing customer services associate.

 

 

 

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Another Retail Bankruptcy!

Tuesday, April 25th, 2023

 

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

I read the following on the web this morning from the Newsroom at Chain Store Guide and also heard it on the news. Bed Bath & Beyond has announced that they will be winding down operations amidst a bankruptcy filing and closing all locations. The company has been struggling for several years and it seemed to be only a matter of time before this decision was reached. The company will not be closing all of their locations immediately and there is no word on when or in what manner they will begin the closings.

This continues to upset me, as I mentioned in a recent post titled How can you save money very quickly in the current economic environment? I do not want to cast aspersions on any management team. However, I do personally believe that not enough effort goes into securing products and services at the best cost. In fact, I think it is largely avoided in favor of new formats, marketing and continuity programs that have been tried many times before. When they don’t work during new managements honeymoon period, then it’s a huge cut to associate headcount and lumping of more work on those who remain.

Retail is a challenging business. The move to online purchasing has had a huge impact on many segments of the industry and while it has created a lot of related jobs in some areas, it has also created myriad problems in others. Real Estate Holding companies that have housed these companies are having to rethink everything they do and for whom.

SafeSourcing’ s savings average over 24% better than what companies can do on their own most of the time, and there really is no category that we do not have experience in.

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. That includes 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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What does your companies spend data tell you about your business part I

Friday, April 14th, 2023

 

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

At SafeSourcing, it’s our passion to understand our customers spend data better than they do. SafeSpendAnalysis™ analyses and organizes accounts payable data into a view that is actionable in order to focus on savings that are deliverable immediately. Our best-in-class Customer Services team uses the output to provide a comprehensive and executable project plan to the finance and procurement teams that structures the development and completion of projects in less time and with better results.

So, what’s the focus and what do you need to provide?

Focus of SafeSpendAnalysis™

  • Address 100% of what a company spends.
  • Address all capital spending.
  • Address all cost of goods.
  • Address the entire expense category.

Data Requirements of SafeSpendAnalysis™

  • Minimum: AP list for the last 12 months
  • Include all vendors.
  • Minimum Detail: Vendor name, Address, and Spend
  • Additional Detail: Contact data, website, phone numbers

So, what do you get and how can it help? Check back tomorrow for part II.

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. That includes 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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How do you monitor and manage Supply Chain Disruptions?

Wednesday, April 12th, 2023

 

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

Certainly, during the COVID pandemic, we heard daily about supply chain disruptions. These disruptions left many companies questioning their single source, offshore sourcing and myriad other supply chain decisions they made prior to 2020.

I’ll list a few other potential areas that can cause supply chain vulnerability below. Quite frankly, I could list another ten easily. The point being, how does your organization stay on top of these. How do you find new and evolving sources of supply?

  1. Natural Disasters.
  2. Geopolitical Instability.
  3. Transportation Breakdowns.
  4. Cyber Attacks on Disruptive supply chain technology.
  5. Supply & Demand Fluctuations
  6. Your Companies current Financial Viability
  7. Current and New Supplier Financial Viability
  8. Inflation
  9. Commodity Shortages
  10. Unemployment

At SafeSourcing we take pride in our white glove services. This includes the use of our SafeSourceIt™ Global Supplier Database. Our database contains much of the required information you need and our suppliers are re-vetted prior to every sourcing event that they participate in. We recently had a customer whose vendor decided to leave a segment of their business which left a hole on our customers’ shelves. We introduced them to twenty new potential sources of supply and vetted each again. It’s not always the savings.

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. That includes 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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Construction Costs will Continue to Rise in 2023

Tuesday, April 11th, 2023

 

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

According to Global Commercial Real Estate Services CBRE After two years of double-digit increases, they expect construction cost growth of 5.4% in 2023. Higher interest rates and slow economic growth could cause delays to many constructions projects. This would alleviate labor and materials shortages and limit the extent to which contractors could boost margins.

This is both good news and bad. While costs may be coming down and you should take advantage of that by market testing everything that you buy, contractors and builders may also raise their prices to recoup costs from the past several high-priced years. If it were me, I would try to unbundle anything that you can and test the pricing of all categories in this space. Once you have done that it may be time to negotiate with your general contractor. It also may be time to look at lease language and unbundle things like Common Area Maintenance or CAM as that is another hiding place for high priced services.

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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Watch Out Procurement Professionals Here Comes Artificial Intelligence.

Friday, April 7th, 2023

 

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

I read an post today By Emma Colton FOX Business titled ChatGPT AI lists jobs it can do better than humans as millions could be put out of work. You know as an advocate for associate growth and retention what I think of this Phooey!

Obviously based on what the bot said below, I should stop ending my posts with the following For more information, please contact a SafeSourcing Customer Services Associate because obviously these highly skilled procurement professionals that source every product and service from A-Z across all industries should be worried. Phooey.

According to the post, the bot told the outplacement firm that it would most likely replace positions that are repetitive and predictable, and ones that are also seeped in language requirements. Those fields, according to the bot, include: customer service representatives; translators and interpreters; technical writers; copywriters; and data entry clerks. 

I can’t wait for the bot to source trash hauling for a major retail chain or hospital that can involve recycling, medical waste, circular economy initiatives, traditional waste, driver shortages and more. Not to mention frequency, supplier notification, conversation, and training.

While there are places for ai, there will always be a need for quality customer services practitioners in the procurement space because for the most part there is too much of not knowing what you don’t know and figuring it out on your customer’s behalf.

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 . Our average annual savings against all categories are in excess of 24%.

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

 

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How is your customer Service?

Tuesday, April 4th, 2023

 

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

I was traveling back from ten days in Europe and read an article on Fox Business on April fool’s day that was not foolish at all. It was titled Americans are fed up with bad customer service, increasingly seek ‘revenge’ over it by Dreck Dumas of Fox business. According to Mr. Dumas, Customer ‘rage’ has tripled since 2020, and experts say several factors are at play.

I know this is not recent news to anyone that works in the supply chain, let alone folks that see it every day in trying to cope with living a well-planned life at home and at work.

In the article a recent survey is quoted that was released by Arizona State University’s W.P. Carey School of Business found Americans are experiencing record-high problems with products and services, with 74% of customers reporting issues, up from 66% in 2020 and 56% in 2017. It does not go on to say how that has changed in the last two years, but my experience just getting home from Europe, it must have gotten much worse. I won’t bore you with delayed and cancelled flights, parts shortages, lost luggage, poor country by country customs management or lack thereof, no sleep as a result for close to 30 hours. Well, I guess I just did. Did anyone care? Not so much.

So how do I relate this to what SafeSourcing does and why it should mean something to you as a procurement practitioner. Because at SafeSourcing we offer excellent white glove level customer service.  Taking care of our customers helps encourage them to continue doing business through good times and bad and it’s a team sport that we are the best at. Here’s one quote from a Sr. VP of finance. “We would not be where we are today with our Indirect Spend without “SafeSourcing”.

So if you want to be treated well, and with respect while also making your job easier, please contact a SafeSourcing Customer Services Associate. They’ll be thrilled to assist you.

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Viewing our Industries Up stream and Down Stream and around the world.

Monday, March 27th, 2023

 

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

When I travel whether it is for business or pleasure, I have always checked in on customers and suppliers to watch them in action and to learn.

As an example, for 20 years, I drove across the country at least twice per year. If you own a #c-store and it’s on the highway or off an exit in a large or small town, I have been in it. I have an impression of the operation that includes your associates, cleanliness, service levels, rest room quality and quality of service. I can also tell you if you were open on the four corners of an intersection, who might do the best in attracting business.

I am currently in Europe and have watched with amazement how our supply chain works and how companies use the various modalities. Even with all of the technology available today it is still surprising just how important the people are. I watch a barge get loaded today via chain gang where forklifts, dollies etc. would not really work. This included the boat captain including a chef and the driver of the truck as well as a dozen others. It was a get it done and done right attitude that I still applaud, and we don’t talk enough about, our people. How we hire them, train them, and use them is so important.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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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Knowing Who Your Suppliers Are – Onsite Visits – Part II of II

Friday, March 24th, 2023

 

Yesterday we posted  about the importance of onsite visits with your suppliers, how to prepare, what to look for, and the value of performing these visits.  This week we will be taking a look at some of the additional things that you need to think about when visiting a supplier in another country.

Visits to international sites will need to encompass the same types of information gathering as a domestic one such as reviewing the cleanliness of the facilities, observing production, logistic and storage processes, but there 3 important areas that must be considered in addition to these that may determine the success or failure of the visit.

Language – Assuming you are visiting a supplier that is not located in a predominantly English-speaking country, the capability to communicate onsite is an important one that should be addressed well in advance of the visit.  Many times the supplier will have staff that is fluent in more than language and can act as an interpreter, however procuring your own interpreter is also a suggestion and possibility. Also, some basic considerations of your own communication style would be to speak more slowly than usual and pause in between sentences to be understood more easily.

Culture – This is an important area to prepare for because in some countries seemingly minor things can create a tense atmosphere.  Determining whether to bow and the details surrounding when and how, if the country shakes hands when they greet and which hand they shake with are all important items in some countries and should be learned prior to your visit.  On the other hand, it is equally important to note the things that are normally unaccepted behaviors in the U.S. which many times are not viewed the same way in other countries.  Americans would generally never answer a phone call in a meeting or show up to an appointment late, but in other countries these behaviors are far less important and frequently occur during the course of doing business.

Capturing the details – Visits to international suppliers generally come with a price tag that is not insignificant to your company, so capturing as much data as possible is important on these visits.  Wherever you go during your visit take a notepad and camera with you to record what you see and hear while on the visit.  Many manufacturers will allow you to take occasional pictures as long as you ask in advance and have it cleared.  Some may not allow it and others may allow it as long as no employees are included in the pictures.  Capturing these details will be very useful to you and your team in the future and can potentially save trips for other employees in the future.

Onsite visits to your suppliers are incredibly valuable and important to your organization and are a terrific tool for knowing who your suppliers are and how they do business.  They are also important forums to gather details necessary for later contract negotiations.

If you are interested in locating potential new sources of supply, please contact SafeSourcing.  The SafeSourceIt™ Supplier Database contains 457,000 globally.

We look forward to and appreciate your comments.

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