Category Development Index (CDI)

September 11th, 2023

How do you follow the trend in the categories that you source?

 

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

How do you follow the trend in the categories that you source? If you only source them once a year or less frequently, does it make sense to talk to a partner that sources them globally dozens of times a year like SafeSourcing?

A Category Development Index, or CDI, is a trend analysis that indicates the turnover of sales of a given productcategory in a specific area. The CDI can give vital data for marketers to allocate advertising to specific areas maximizing product category knowledge and profit. The category Development Index is often used in conjunction with the Brand Development Index or BDI.

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. Our SafeSourceIt™ Global Supplier Database provides access to suppliers across multiple categories in order to support single or multiple source opportunities both near shore and offshore. To learn more, please contact a SafeSourcing customer services associate.

 

 

Case Cubes and Full Load Shipments

September 8th, 2023

How does your company go about reducing your freight costs?

 

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.

Happy Labor Day Weekend 2023

September 1st, 2023

Let's hope this years crops once harvested don't have a negative impact on the price of goods around the world.

 

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

Do you know how many products are affected by the price of corn?

Here are an easy bakers dozen of the more than hundreds for you to ponder. How do they affect your purchasing? Many of you probably have no idea! The good news is that SafeSourcing can help.

1. Alternative medicine
2. Chemicals
3. Bio-fuel
4. Food
5. Feed
6. Sweeteners
7. Starch
8. Beverage Alcohol
9. Plastics
10. Fabrics
11. Adhesives
12. Fish Bait
13. Herbal Supplements

If you’d like to understand how SafeSourcing takes into account this type of commodity information when sourcing your products, please contact a SafeSourcing customer services account manager.

We look forward to and appreciate your comments.

Watch your commodity markets very closely!

August 30th, 2023

Prices for Beef went up in 2023 and are going to do it again next year!

 

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

In an article by Bryan Doherty in Successful Farming titled EXPECT TIGHTER SUPPLY OF CATTLE IN 2023, ANALYST SAYS. Though cattle marketing numbers were heavier than expected late summer and fall, expect that beef production and the number of cattle marketed will be lower in the year ahead.

Why? The quick answer: higher input costs and drought conditions in key cattle-producing states will mean less inventory in the months ahead.

How do you make sure you are sourcing your commodity needs correctly? Contact SafeSourcing Inc. We buy it more often than you do and know the levers to pull. Glad to share some recent examples when you reach out.

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.

References:

Successful Farming: Bryan Doherty

High-Low Pricing Strategy

August 25th, 2023

What's companies still use this type of pricing?

 

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

According to Wikipedia, high-low pricing (or hi-low pricing) is a type of pricing strategy adopted by companies, usually small and medium sized retail firms. It is a type of pricing where a firm charges a high price for an item and later will sell it to customers by giving discounts or through clearance sales. The basic type of customers for the firms adopting high-low price will not have a clear idea about what a product‘s price would typically be or must have a strong belief that “discount sales = low price” or they must have strong preference in purchasing the products sold in this type or by this certain firm.

There are many big firms using this type of pricing strategy (ex: Reebok, Nike, Adidas). The way competition prevails in the shoe industry is through high-low price. Also, high-low pricing is extensively used in the fashion industry by companies (ex: Macy’s, Nordstrom…).  This pricing strategy is not only in the shoe industry but also in many other industries. But, in these industries one or two firms will not provide discounts and works on fixed rate of earnings those firms will follow everyday low-price strategy in order to compete in the market.

If you’d like to learn more about how SafeSourcing can assist in properly analyzing the total cost of your annual purchases, please contact a SafeSourcing customer services associate.

Sourced: http://en.wikipedia.org/wiki/High-low_pricing 

Have you invested in EGGCoins yet? 

August 24th, 2023

They are performing better than Bitcoin and other Crypto assets. Risk vs Reward? 

 

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

EGGcoins or just plain old farm fresh eggs are outperforming Bitcoin and most other crypto assets.

However, you cannot hold them for quite as long because they spoil quickly, or even worse they hatch and turn into ChickenCoins that require physical housing versus a virtual wallet.

While bitcoin is up 38.92% YTD. Eggs are up over 60% in the last 12 months and headed higher yet. Maybe you can exchange EGGcoin with Bitcoin.  At least if the price drops sharply, you’d have something to eat. Or even have a pet (not suggested as my grandfather was a chicken farmer so I know things).

While I know you all like tongue in cheek posts, please remember that like everything, egg prices vary drastically based on type, size, color, and farming styles like free range versus caged.

If you really want to get your best price for this commodity, Contact SafeSourcing Inc. We buy more of all commodities more often than you do and know the levers to pull. Glad to share some recent examples when you reach out.

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.

 

 

Are you sourcing a new category or cannot find a specification for a current category?

August 21st, 2023

The SafeSourceIt™ Templates Library may be your answer!

 

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

Often when speaking with customers and prospects I am asked why SafeSourcing can reduce their current pricing as dramatically as we do.  My fist response to ask how often they source the category. The answers range from annually to every few years or longer. From there I ask them how they keep track of industry changes and evolution. This normally draws a blank look. My answer to them is that categories that they source even annually are evolving every day. Just think about waste removal the transition to a circular economy. What you might source for service today may not be the same as what is available six months from now, and at what cost SafeSourcing may source those categories dozens of times in a year and all of those changes are kept in our The SafeSourceIt™ Event Templates Library and are up to date to the present day. Often these templates are more complete than data the customers have on file.

Our SafeSourceIt™ Event Templates Library is available to customers of SafeSourcing Inc. This library is designed to shorten the process of procuring a variety of not for resale and for resale products by making SafeSourcing’ s best practices tools available to our customers to shorten the amount of work one must do to prepare for quality e-procurement events. For more information or a demonstration of this tool please contact marketing@safesourcing.com.

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.

 

Social Media Influence

August 16th, 2023

We all know how social media has impacted our social lives, but how is it affecting other areas of your life?

 

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

We all know how social media has impacted our social lives, but how is it affecting other areas of your life?

As many other people do when we get a little bit of down time, I sometimes scroll through the popular social media sites for a little bit of a distraction and entertainment. Something I have recently noticed, though, is the shifting content within those platforms. It shouldn’t surprise me to learn how much money is being spent on marketing and advertising on the platforms I go to reconnect with friends, yet I am still surprised at the trends. It seems that more and more content rarely makes its way to me, yet I see advertisement after advertisement for things deemed to be in my interest based on algorithms and history. In fact, it often makes me less inclined to use those platforms because I get tired of the endless advertising.

Just like television, newspapers, and magazines, marketing seems to have taken up permanent residence in all the electronic and digital platforms, but this time likely at a price I suspect might be no small number. So how do you get your company or organization out there and get some recognition and potential new business? For many organizations, they simply cannot compete with larger companies and cannot foot the bill for the type of social media advertising that really makes an impact.

This is how working with a procurement partner can help. Whether you are selling goods or buying goods, a procurement partner, like SafeSourcing, can help connect you with other organizations that are also looking to buy or sell goods or services. A partner like this can help connect you using RFQ tools that provide the right companies, products, and services together for everyone’s gain.

Contacting a procurement partner could be the right way to go if you have found that the high cost of advertising and declining overall opinion of those platforms are not the way your organization would like to go.

For more information on what the SafeSourcing 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.

Doubles, Home Runs and Grand Slams for our Retail Partners!   

August 15th, 2023

Strong savings continue to be delivered for our retailers using RFQs in 2023

 

Today’s post is from our repository at SafeSourcing Inc.

2023 has been a Grand Slam for SafeSourcing’s retailer clients and the trend is continuing! While vendors continue to push out price increases to retailers leading to rising costs, they are also reporting ever increasing profits. For those who have had enough of that, read on for some examples.

SafeSourcing’s retail customers have seen incredible success. Ongoing market challenges including inflation and vendor capacity constraints have been mitigated or disproven using eRFQ events.

A few Retail RFQ Highlights

  • Waste removal: 32%
  • Cooler Glides and Shelves: 34%
  • Hot Dogs: 17%
  • Cigarette Racks: 27%
  • Bagged Ice: 7%
  • Deli Containers: 14%
  • Coffee, Cappuccino and Hot Chocolate: 41%
  • Bottled Water: 31%
  • Labels: 31%
  • Plastic Cutlery: 41%
  • Windshield Washer Fluid: 18%
  • Concrete and  Pump Cleaner: 19%

 This is possible for you as well and it is possible right now. Connected with us to learn more about these examples and to talk about how to get started.

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 SafeSourcing.

 

 

 

Business to Business Associates are finding it hard to connect via phone calls!?

August 11th, 2023

Because Gen Z and Millennial office workers want to ban phone calls........

 

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

Recently I was listening to some news on the television and heard a report that said Gen Z and Millennial office workers want to ban phone calls because they are too aggressive and confrontational.  After doing some research I found that there was a study done and that instead of phone calls 75 percent of office workers surveyed say they would prefer to use email or social media to communicate.  The one statistic from the survey that concerned me the most was that over 75 percent of the people admitted to frequently ignoring incoming phone calls if they did not recognize who was calling because they were afraid that it could be a confrontational conversation.  This I could understand when it comes to your personal phone but not your office phone.  So according to these statistics you may have about a 25 percent chance of getting ahold of someone when making calls to businesses whose employees are primarily under the age of forty.  I will admit some things can be taken care of by text or email, but this is usually only simple questions that do not have a lot of follow up questions.  In my opinion to be successful you need to be able to communicate to potential customers and business partners by phone and in person to ensure that everyone is on the same page.  Oh, and by the way the study also stated about ten percent of the people surveyed admitted that they will go out of their way to avoid face to face contact.

Interested in learning how SafeSourcing can help your company save money during these challenging times?  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.