Thanksgiving and Black Friday is really a story of a supply chain found and developed!

November 24th, 2023

And without it, the possibility of Retailers servicing your needs this Black Friday would be ZERO!

 

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

Happy Thanksgiving Weekend from SafeSourcing

One hundred and two pilgrims and crew arrived in Massachusetts after a 3,000 mile trip from England on the Mayflower. It is safe to say that as a result of that distance there was no existing supply chain to leverage, so one had to be developed and quickly. This began with basic hunting and gathering and later included trading with the areas indigenous peoples known as the Wampanoag’s for corn, seed and foraging and planting techniques.

The Thanksgiving holiday we celebrate today really stems from the feast held in the autumn of 1621. Since the pilgrims had only arrived on November 21st of 1620 they had really not been there long enough to develop a fully reliable and renewable supply source. They had however established collaborative relationships with the local Wampanoag people who became regular trading partners and who helped them celebrate the colony’s first successful harvest.

The most detailed description of the “First Thanksgiving” comes from Edward Winslow from A Journal of the Pilgrims at Plymouth, in 1621:”Our harvest  being gotten in, our governor sent four men on fowling, that so we might after a special manner rejoice together after we had gathered the fruit of our labors.

The fowl referred to above certainly could have included a wide range of fowl that was plentiful in the area such as wild turkey, pheasant, goose, duck, and partridge and unfortunately by today’s standards even eagles.

The pilgrims probably didn’t have pies or much of anything sweet at the harvest feast because they did not yet have ovens. They had brought some sugar with them on the Mayflower but by the time of the first Thanksgiving, the supply had probably run out.

Their meals also included many different types of meats. Vegetable dishes, one of the staples of today’s Thanksgiving, didn’t really play a large part in the feast. Other items that may have been on the menu certainly included sea food such as clams and lobster, Indian corn, wild fruits and nuts, meats such as venison and seal and certain dry herbs and spices.

The Thanksgiving meal that has today become a national holiday is a symbol of supply chain cooperation and interaction between English colonists and Native Americans.

We look forward to and appreciate your comments.

Happy Thanksgiving.

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

November 20th, 2023

Google Maps recently got a massive new AI upgrade.

 

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

November 17th, 2023

The importance of procurement services cannot be overstated in today's dynamic business landscape!

 

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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Remember to say thanks to all veterans today, and every day!

November 10th, 2023

As have many family's, our family has also been proud to serve our country for generations as far back as the revolutionary war.

 

Today’s post is from Ronald D.  Southard, Founder and CEO at SafeSourcing Inc.  I am a very proud USAF Veteran. I began my supply chain career as an Inventory management specialist 645XO in the War Materials Department of Base Supply during the Vietnam War. The logistics involved at the time are still advanced to many things industry is doing today. What an education. Thank you to all my veteran brothers and sisters for your service past present and in the future.

SafeSourcing is extremely proud to be a Veteran founded and owned company.


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

 

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Bankruptcy is not fake news, and you might be next if you don’t pay attention.

November 9th, 2023

Bankruptcy is becoming a tactic rather than a last result. Maybe you can avoid it!

 

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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All of you Retailers are paying way more than you should be for just about everything.

November 7th, 2023

Is it because of this inflation BS or are you just scared to test the market.

 

Today’s post is by Ron Southard CEO and Chief Money Saver at SafeSourcing Inc.

The pandemic scared everyone. The retail industry had moved largely toward single source supply chain initiatives. The last two years has not really seen much movement away from that. The result is that retailers are paying way too much for everything. As a good cop in this equation, I try to keep customers and prospects informed as to market movement on as many commodities, supplies and services as I can. It’s pretty easy, because I can actually look back at what retailers were paying two to four years ago and I can compare it to what other retailers are paying now. The best I can do with that information is share it in a nonspecific way. Example: Two Years ago, you paid X for Y. Last week another customer ended up paying X for the same Y. They are paying less than you are.

My reaction to the above would be, tell me more and tell me how soon we can fix it. In fact, SafeSourcing has reduced its costs on everything we do including interest rates on all types of debt. We can do the same for you.

I know planning for the future and worrying about what to do about shrinking labor pools or lack of shift workers or how to attract more customers away from one format (fast food to C-Store) to yours is all top of mind, but many a fine MBA professor has told their students ITS ABOUT THE MONEY. What are the two most important things to a retailer? People (customers) and Money (cashflow/profit).

I can help you get there sooner rather than later.  Or maybe you’re just waiting to be bought out or get fired.

SafeSourcing is a Procure to Pay SaaS based Managed Services 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%. Think about what those numbers would do to your bottom line whether they are from cost of goods or expense. Protect your precious headcount because it is the right thing to do,

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

 

 

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What do we mean when we ask for your current price.

November 6th, 2023

If you want to run a successful sourcing event, you’ll need your REAL current price. Most Do Not!

 

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

According to Bing, the spot price of a commodity is the current cash cost of it for immediate purchase and delivery. The futures price locks in the cost of the commodity that will be delivered at some point other than the present usually, some months hence. The difference between the spot price and futures price in the market is called the basis.

At SafeSourcing we always ask our customer for their current price when developing the strategy for sourcing events. The nice part about the word current, is that it means today. Not the price you negotiated a year or two ago or longer that has gone through commodity shifts that have triggered escalation language in your contract. True some of you may be paying the exact same price as you did two years ago, but just wait until you have to renegotiate. If you don’t know, there are ways to get that information through an eRFI, eRFP or other means. When SafeSourcing says we will guarantee our results we are talking about what SafeSourcing is able to achieve versus a true current price that we can all agree upon. This is also the reason that true sourcing events may take multiple forms and why a strategy is needed.

If you’d really like to begin saving money, please contact a SafeSourcing Customer Services Associate.

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.

 

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Short Shipments and Higher Costs!

November 2nd, 2023

Are you sick enough of this to give us Fifteen (15) Minutes of your time?

 

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

We guarantee our results, so if we can’t fix your problem you don’t have to pay us.

At SafeSourcing, we help buyers save considerably on costs by providing tools that enhance the ability to do business in a better, safer, smarter, more streamlined, and cost-effective way. Our Customer Services team is one of the best in the industry at complimenting existing procurement teams to help structure and develop projects in less time for better results. Our flexible service offerings and suite of e-procurement tools deliver savings that can be referenced that are greater than 10 times the cost of our services. Improve GM and Earnings by clicking here, it will come directly to me.

Don’t keep suffering the same problems and answering managements same questions.

Reach out Today

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Where is the best place for retailers to spend their effort to improve profitability?

October 27th, 2023

This has always been a great question for retailers. Should we attack the bottom line by focusing on shrink, cost of goods or gross margin?

 

Today’s post is an oldie but goody by Ronald D. Southard, CEO at SafeSourcing

The answer to this posts byline is of course all three!

Obviously, all retail companies would like to focus on all three areas and there are even sub sections of these top line areas that we could spell out as needing attention. The challenge is where to deploy already taxed resources?

It does not require an accountant to figure this out. If we assume that COGS or cost of goods and services is about 75% of top line revenue that would result in a simple gross margin of 25%. Based on a number of industries reports we are also safe using a shrink number of 3% of top line revenue.

This author is aware that there are a a few companies with shrink below 1% and cost of goods below 75% which means there are also companies with gross margin better than 25%. The obvious question is are these companies that solution providers want to target for profit improvement sales? Probably not.

So, let’s look at an example of shrink improvement with data analysis tools and process improvement tools versus cost compression with SaaS e-procurement tools. Let’s assume we have a company that does top line sales of $1B. Using a shrink number of 3% shrink would be $30M annually. If you were able to reduce shrink by a third in one year, profit improvement would be $10M. If this were a supermarket company with a 1% bottom line or $10M, improvement could be as much as 100%.

Now let’s take a look at reduction in cost. If we assume the same company has COGS of 75% or $750M and that we were only going to address 20% of that number or $150 and only reduce those costs by 20% which is slightly above industry averages the net profit improvement would be $30M or 300% improvement in year over year net profit. If we were only able to achieve 10% savings which is well below industry averages, net profit would improve by 150%.

I’ll leave the gross margin example for you to figure out. In the above case it is clear that attacking COGS has an impact on the bottom line of up to 3 to 1 versus addressing shrink with your already taxed resources.

If you are interested in an immediate impact to your bottom line, please contact a SafeSourcing Customer Services associate today.

We look forward to and appreciate your comments.

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Post-Consumer Materials and the Circular Economy

October 26th, 2023

How is your company planning to work with evolving circular economy issues?

 

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

How is your company planning to work with evolving circular economy issues?

According to Wikipedia A circular economy (also referred to as circularity and CE)[2] is a model of production and consumption, which involves sharing, leasing, reusing, repairing, refurbishing and recycling existing materials and products as long as possible.[3] CE aims to tackle global challenges as climate change, biodiversity loss, waste, and pollution by emphasizing the design-based implementation of the three base principles of the model.

Global business is now thinking way past post-consumer materials which as we all know drove many of the early recycling initiatives implemented by businesses. A definition of that term which is a beginning point but less broad than circular economy is below.

The term post-consumer materials are finished products, packages, or materials produced or created by a business or consumer.  Post-customer materials have served their intended uses and have been recovered or diverted from the waste stream with the intention of recycling or reuse. An example of post-consumer materials is paper recycling.  The purpose of paper recycling is to turn paper into new paper products.

SafeSourcing is an eprocurement company that operates across multiple industries. Our SafeSourceIt™ Global Supplier Database of over 457,000 suppliers provides easy access to alternative sources of supply based on post-consumer materials and or circular economy requirements. To learn more, please contact a SafeSourcing customer services associate.

Sources: Circular economy – Wikipedia

 

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