Today?s post is by Mark Davis; Sr. Vice President and COO at SafeSourcing.

As I celebrated my 44th birthday yesterday, it occurred to me that birthdays and other life events like, weddings, funerals, graduations all seem to be common checkpoints to evaluate the project we call ?life.?? We evaluate how far we?ve come, remember certain successes and look forward to what is still yet to come.? In so many ways the evaluation of the long term processes and projects run in the procurement world need those same types of checkpoints to evaluate the progress and to make adjustments where needed.? Today we will look at some of the things that should be done during these times.

Sweating the small stuff ? I can honestly say yesterday, when reflecting back on 44 years of life, that I could not remember one time when I stressed over a little mistake or some perceived problem I had at work.? Oh they happened, many of them, but my brain decided to filter out and store only the important pieces of experience.? If only we could employ this same mentality on our procurement projects.? There is a goal and that goal has milestones and tasks that need to be accomplished but there will be challenges.?? Specifications that change and need to be updated, suppliers that choose to be difficult, business owners that change direction for the spend are all things that happen but that need to be overcome quickly and with as little stress as possible so that the eventual goal, the value add, the savings, the new supplier, the one piece that WILL be remembered can be achieved.

Enjoy and recognize the progress ? Business moves fast and business practices, especially in the United States, come with high expectations.? As much as we sometimes try to act like it in our business and personal lives, we are NOT machines!?? We need gratification and confirmation that what we do and who we are is important.? Build it into your business processes and projects to recognize when your teams do well.? Your owners, suppliers, internal customers and peers will have no problem letting you know when you haven?t succeeded so take some time and enjoy when you do.

Evaluate and Adjust goals ? When I was 10 years old I wanted to be a train conductor because that was what my dad was, an engineer.? Many people were amused when I told them my Mechanical Engineer dad drove trains.? When I was 16 I thought I wanted to be a doctor and by the time I graduated from college I was a journalist who knew how to write software.? The point is that my goals changed.? I planned accordingly and set out to meet the goals I set but periodically I had to checkpoint my life to see if there were any factors that were influencing the success of those goals, and decide if changes to those factors need to be changed or did the end result I was reaching need adjusted.? Purchasing Standard Operating Procedures need this same type of review.? Factors will influence the expected outcome that either must be changed themselves or the expected outcome or timeframe adjusted to accommodate the new factors.? This can only be done if the checkpoints are used to honestly evaluate the progress rather than plowing forward with blinders on coming to the end saying ?What happened??

Time and the world will change and it will change your SOPs and projects and require points to evaluate where you came from and where you are heading.? For more information on how SafeSourcing can assist you with these changes or on our ?Risk Free? trial program, please contact a SafeSourcing Customer Service Representative.? We have an entire customer services team waiting to assist you today.

We look forward to your comments.

Today’s post is by Mark Davis; Sr. Vice President and COO at SafeSourcing.

Hydrogen fuel cells are one of the hottest new technologies on the market today.  This technology captures the electrical energy from a chemical reaction such as hydrogen and while it was introduced in 1838, the practical application is just beginning to pique with major retailers and manufacturers planning on increasing their use over the next few decades.  Today’s blog will look at a few of the current applications corporations are looking to so that they can leverage the advantages of fuel cells.

Warehouse Equipment – Warehouse equipment that has been configured to be powered by fuel cells instead of traditional batteries is growing.  Companies like Wal-Mart, Procter and Gamble and Mercedes are all committing to long term use of fuel cell technology with agreements to purchase new technology that will reduce costs and increase overall power at their disposal.   A recent study by the National Renewable Energy Laboratory stated that Total Cost of Ownership even with current technology costs can be reduced from 5-10% and that will increase as the cost of this technology gets cheaper and cheaper to manufacture.

Backup Power – Backup power grids can be critical for hospitals, businesses and retailers and even more so in areas of the country prone to hurricanes, snowstorms and tornados.  Traditional supplementary sources can be effective but since they are powered by fuel that can also be difficult to obtain in a natural disaster, more and more organizations are looking to fuel cell technology to augment or replace their current backup power grid.  Originally designed for NASA equipment for remote application, the development of closed loop fuel cells can use air and solar power to provide a backup “off-the grid” power solution that does not depend on outside fuels.

Employee Vehicles – It seems like the next big thing in the auto industry is the emergence of Electric Vehicles, however all news reports state that major manufacturers are moving away from Electric Vehicles towards hydrogen fuel based on cost and based on newly 0% emissions and on a solution that has more long range power and efficiency.  Currently Toyota is leading this charge but manufacturers like Honda and Hyundai are also committing long term to hydrogen fuel cell development.  The potential to develop a closed loop vehicle with little to no need of fossil fuel is the eventual goal and one which would clearly change the landscape of business and logistics across the world.

For more information on how SafeSourcing can assist you in exploring fuel cell solutions for your business or on our “Risk Free” trial program, please contact a SafeSourcing Customer Service Representative.  We have an entire customer services team waiting to assist you today.

We look forward to your comments.

Today’s Blog is by Ryan Melowic Vice President of Customer Services at SafeSourcing.

For manufacturers who use industrial grade Hydrogen Peroxide in their production process, it is important that they have a thorough understanding of what indexes can affect its price.  In this category some manufacturers use a shared risk – shared reward model that follows the variations in both Natural Gas and Diesel fuel pricing.

Some manufacturers are using the Nymex Henry Hub Natural Gas Index.  They figure surcharges by calculating an average monthly settlement price and then compare it against a set base line.  If the Nymex average price is greater than the baseline, they will subtract the current monthly average settlement price from the baseline and then multiply it by a fixed number that is dictated by thresholds based off of the average monthly settlement price.  With a fifty cent change in the Nymex Henry Hub Natural Gas Index price it isn’t uncommon to see a 2% increase on the cost of Hydrogen Peroxide.

In addition, a fuel surcharge that changes on a monthly basis is used by some hydrogen peroxide manufacturers.  They define additional surcharges for pricing thresholds and compare it to the current cost of diesel on websites like the Department of Energy.  From there, they set surcharges for delivery based on the price of diesel.  Pricing for diesel in the mid four dollar range can add around 2% to hydrogen peroxide costs.

With ranges in costs hinged on indexes, Hydrogen Peroxide prices can change 4 to 10 percent depending on the current market.  This makes it difficult for manufacturers to hold their pricing for the finished product.  However, most manufacturers are expected to lock the pricing of their finished goods for at least a year.  How is this fair for the manufacturers of the finished goods?

For further information how SafeSourcing can help your company lock in competitive hydrogen peroxide pricing for a longer duration than monthly, please contact a SafeSourcing Customer Service Representative.

We look forward to and appreciate your comments.

Today’s Post is by Alyson Usserman, Account Manager at SafeSourcing.

21 years ago business was conducted in a completely different manner than it is today. 1993 was a great year, the United States government came up with a new plan to erase the deficit, the “home computer” was in the works behind the scenes, and the North American Free Trade Agreement was passed to allow businesses to expand outside of the United States. Business was conducted in person or over the phone, which meant that opportunities were extremely limited compared to 2014. Now, we have smart phones in our pockets, we are always “plugged in,” one way or another, whether it’s sitting behind a computer at a desk or walking around the grocery store replying to emails.

Technology, business practices, and people are all in a constant evolution. There is always something “better” or higher end that is coming out. If a company doesn’t keep up with the evolution of the market place, technology, or its employees then it will be left behind.  Since the business world is constantly changing, so are the people that work within the markets, companies, and the most recent college graduates. These new college graduates are taught the most modern business practices and technologies.

All of these factors change procurement completely. Today, we have the capabilities to find suppliers globally, just from a Google search. We have the ability to capture hundreds of quotes in minutes, literally. SafeSourcing can help your company and make sure that your procurement needs are up to date, If you’d like more information, Risk Free” trial program, please contact a SafeSourcing Customer Service Representative.

We look forward to  and appreciate your comments.