In this current period of massive Layoffs. What’s more important to you as a leader?

March 8th, 2023

Growing Profit at any cost or Maintaining and Growing Associate Headcount.

 

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

This sounds like a tough question, but it shouldn’t have to be. I have waxed for years that the first thing most new executive suite leaders do when they get that new job, is study the existing business and propose changes. They have to do this because ownership and or the board are watching. Generally, any plan they provide includes heavy headcount adjustments. Why, because it is the single biggest expense on the P&L. Cut headcount by 10% and if the business is not poorly managed, the dollars should drop to the bottom line pretty quickly and you are now the new wunderkind. Too bad you were not more creative and more interested in your employees than to look at them as money. You’ll probably also get a nice bonus while they get the breadline.

Another thing learned in management school is to be able to define your job in terms of your passion in an easy-to-understand elevator type statement. That being something that you can recite in the short elevator ride between less than a few floors.

When I am asked what we do at SafeSourcing, my response is that “we are passionate about assisting our customers in reducing all costs, that result in improved Gross Margin and Earnings in the current period, to support growth and sustain and grow associate headcount”. Anyone that understands accounting should understand how that statement can apply to any business.

It’s always an easy decision to restructure and go after headcount, it’s more difficult to look at the bowels of your business and realize there are other maybe better ways. That’s my passion. Why not join me and see if we can accomplish this for your company.

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.

 

Why should suppliers want to participate in eRFX events?

March 7th, 2023

There are any number of significant benefits that Vendors/Suppliers receive by participating in eRFX events. Here's TEN!

 

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

Quite often when speaking with new suppliers in order to invite them to participate in an eRFX event like a reverse auction or an on line request for information or proposal the question comes up; “What’s in it for me”? This is almost never the case for suppliers that have been involved in the practice before.

Supplier benefits may include but are not limited to the following:

1.  Suppliers can accurately represent their company and its capabilities to a buyer or group of buyers.
2.  Suppliers benefit from reduced cost of new business acquisition.
3.  Suppliers are exposed to more opportunities for new business.
4.  eRFX events bring more potential business partnerships directly to the supplier’s door
5.  eRFX events are transparent and all requirements are clearly defined
6.  Suppliers can have access and compare their offering to the best pricing during the auction, which helps suppliers position themselves correctly in the marketplace
7.  All of the buyers terms and conditions, product specifications, and other pertinent information is clear and concise which allows for accurate quoting
8.  Suppliers are introduced to tools they can use in their businesses in order to compress their pricing.
9.  Suppliers can instantly submit and modify their bids electronically rather than submitting paper bids, providing a faster, more efficient purchasing process.
10.  Suppliers can upload pertinent CRM data that they would like the host company to consider.

The next time an customer sourcing company like SafeSourcing calls you on behalf of their host company requesting your participation in an eRFX events, ask to be added to their database and what you have to do to be invited to all events in the future.

If you’d like to learn more about the SafeSourceIt™ Global Suppler Database, please contact a SafeSourcing Customer Services Account Manager!

We look forward to and appreciate your comments.

eRFX Strategies for Success a Refresher!

March 3rd, 2023

Getting the most out of your eSourcing events again and again!

 

Todays post is from Ron Southard, CEO at SafeSourcing Inc. This post also includes input from the many talented teammates I work with every day and my Whitepaper by the same title.

Every sourcing project is different, from the data you start with to the results you hope to achieve and how to get there in a way that delivers great results and great participation. Knowing where to start and the path to travel is key to achieving both of these goals.

The world of procurement is continually changing, and this includes the world of eProcurement when it comes to the request for information, a proposal, or a quote.  The differences between the three requests, what expectations are when receiving the requests back, and how to make a sound business decision with what has been submitted are what separate each stage in giving procurement professionals the blueprint as to where to begin in the process.

While technology continues to evolve and have significant impact on the procurement space, is it bringing better results than the tried and true processes that have evolved but are seldom followed in their entirety. These processes have been in place for years. What are they, how to do them correctly and maximize your results, that is the real trick? If you cannot do them on your own, it may make sense to look to companies that can deliver them consistently in the form of white glove software as a service.

Tune back in tomorrow when we will explore the Request for Information or RFI?

If you’d like to learn more and can’t wait for the series conclusion, please contact a SafeSourcing Customer Services associate, they’d be thrilled to hear from you.

Thanks.

 

The Critical Importance of Double Checking Your Work

March 2nd, 2023

Sounds pretty tricky if you ask me.  I don’t think the average person would know to do this.

 

Today’s post is our archives at SafeSourcing, Inc. 

Recently I was in the market to replace my two front tires.  I had been to the tire store a year prior and was advised to replace two tires and rotate the other two tires.  I was told that the new tires that were to be replaced were the going to be the same tires that were on my car.  The work was done and I never gave any thought to the tires that had been replaced.  Well, it turns out, my car had run-flat tires and the two tires that were replaced were not!  All four tires are both made by the same manufacturer.

When the gentlemen came out to look at my tires, he asked to see my spare.  I opened the trunk and realized I had no spare because they were run-flats and a spare is not needed.  He told me he noticed right away I had run-flats on the front and regular tires on the back.  Thankfully, I never had an incident with a flat or a blow out before discovering that the tire store put the wrong tires on my car.  How can the front desk person and the actual installer not notice that the wrong tires were sold to me and installed?  I elevated my concern to the store manager and was given a significant credit for the two tires that were put on in error.  I told him my concern was that two of his employees signed off on these tires – the wrong tires!

What is a run-flat tire?  A run-flat tire is a pneumatic vehicle tire that is designed to resist the effects of deflation when punctured, and to enable the vehicle to continue to be driven at reduced speeds – under 56 mph – and for limited distances – generally between 10 mi to 50 mi, depending on the type of tire. Wikipedia

How would the average person be able to identify a run-flat tire?  Identify run-flat tires by carefully inspecting the tires for specific markings.  Turn on the flashlight.  Scan the sidewall of the tire.  Look for markings such as “ZP,” “RFT,” “SEAL” or an image of a flat tire with an arrow pointing away from it.  Use the magnifying glass to pick out these indices, if necessary.  Sounds pretty tricky if you ask me.  I don’t think the average person would know to do this.

SafeSourcing strives to give excellent customer service.  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.

 

 

 

 

It’s NOT being braggadocios if you REALLY are better than your peers.

February 28th, 2023

We can buy products and services at lower prices than your team can!

 

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

We are not bragging or being mean spirited; we are that good. Ask our customers. According to them we are invaluable to their company. So why not to yours. Take me to task and I’ll prove it. You nor anyone else on your team sources many of your products and services as often as we do. If you source a category once every one to three years, you are not a category expert because too many changes happen that you can’t keep up with. We can help you!

At SafeSourcing, we help procurement teams save considerably on costs by providing tools and services 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 white-glove service offerings coupled with our suite of e-procurement tools deliver referenceable savings results that are greater than 10 times the cost of our services, improving Gross Margin and Earnings significantly.

So, give us a call.  And ask us about our e-Procurement solutions and associated white glove services and our SafeSourceIt™ Global Supplier Database  that includes over 557,000 vendor/suppliers. We can get you better pricing on about any category of product or service.

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

Brand Loyalty Why? Cost Reduction Maybe Not!

February 27th, 2023

Oftentimes, people stick with the same services and relationships because it's easy, even if they know they cost more.

 

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

Oftentimes, people stick with the same services, even if they know they cost just a little bit more. In normal circumstances, this is certainly a smart thing to do. Many times, cost you know is better than the one you don’t. But, when it comes time to cut costs, it would be nice if your service could bring its price down just a little bit. E-procurement is fine way to not only test the market to see if your brand really holds up to the market standard, or if it’s time to move on to greener pastures.

Even if your preferred service isn’t necessarily the best price on the market, quality service is a perfectly valid reason to keep your incumbent supplier on the books. RFQs frequently don’t see the lowest price receive your business, instead, a reasonable price with outstanding service swoops in and wins the bid. Your goal might not even be to find a new supplier in the first place. Sometimes, just putting the pressure on your incumbent supplier is enough to state that cost cutting is now becoming a serious factor.

Brand loyalty can be a powerful factor in decision making, and on the surface, e-procurement can sound like a way of upsetting your current suppliers. But by reaching out and giving your suppliers a fair chance, you can challenge them for a better cost without cutting them out completely with a sudden influx of new quotes you want them to match. A little bit of transparency can go a long way!

To help you find the source of your rising costs, please contact a SafeSourcing Customer Service Representative.

 

 

 

Striving for Success. Lessons from Lincoln!

February 24th, 2023

We can all learn through these simple messages!

 

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

I was reading an article on Fox News the other day titled Lincoln’s advice for success still rings true today by John Cribb. Being a big fan of Lincoln, I knew the message would be simple but profound. So, here’s a couple of the messages.

  1. Lincoln learned early the value of work. He wrote that his father put an ax into his hands when he was 8.
  2. He worked hard at whatever he put mind his to. As a budding politician, he tromped from farmhouse to farmhouse looking for votes. 
  3. A young schoolteacher once wrote to him asking for advice. “Work, work, work is the main thing,” Lincoln wrote back.
  4. “Upon the subject of education,” he once wrote, “I can only say that I view it as the most important subject which we as a people can be engaged in.” 
  5. “My best friend is a man who can get me a book,” he said, and he would walk miles through the Indiana woods to lay his hands on one.

So, let’s see, start early, work hard, focus on improving your skills regardless of what it takes. Be a student and enhance your learning through reading. While this is a summary, the messages ring true today. I often heard these from my dad. Not sure if he was a Lincoln fan, but I am.

If you’d like to know more about our company, we are constantly challenging ourselves to be better for our customers.

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

Twelve areas to consider in your spend analysis if you don’t want to lose your hard earned savings.

February 22nd, 2023

A customer asked us recently if they were actually getting all of the savings from the low quotes in their eRFX process.

 

Todays post is a favorite by Ron Southard our CEO from our SafeSourcing Archives

Our answer was that is actually a great questions and a tough one to answer if in fact it has not been planned for during the strategy process. We all know that there are all sorts of saving figures quoted in the e-procurement industry for just about any product or service available.

Here are 12 areas of focus to consider when trying to figure out not only your ROI on these projects, but more importantly how much of the savings made their way to the bottom line and what is your leakage percentage.

1. How clean was your GL data?
2. How clean were your specifications?
3. How long did it take you to award the business?
4. How long did it take you to test samples?
5. How long did it take you to sign a contract?
6. How long did it take you to accept your first delivery?
7. Was the first invoice for the exact price you contracted for?
8. Was the shipping and handling exactly as bid?
9. Were there any SOW change requests that raised pricing?
10. What P&L period are you reporting against?
11. What was the budget for this product or service?
12. Can you trace the spend to a specific P&L line item?

It would not be too hard to add another dozen items to this list. The answer here is that proper planning helps eliminate savings leakage. Don’t plan and it will hurt or erode some or all of your potential savings.

If you’d like to learn more, please contact us any time!

You should consider Lifecycle Costing when calculating savings on new business awards.

February 21st, 2023

There is generally more involved than switching cost when considering new suppliers, products and services at the conclusion of an e-negotiation event such as a reverse auction.

Today is a re-post from a long long time ago. What’s changed you ask? NOT MUCH!

It’s true that a reverse auction can create substantial low quote savings. However, much needs to be considered when tracking realized savings once the event has concluded and the award of business is ready to be made.

Lifecycle Costing is a procurement technique which considers operating, maintenance, acquisition price, and other costs of ownership in the award of contracts to ensure that the items or services to be acquired will result in the lowest total cost of ownership during the time the item’s function is required.

If a category is truly returning event savings, it should be able to be tracked from original delivery to contract termination on a companies detailed P&L. The trick is that many of the associated costs go to different departments on the P&L. If you don’t know which ones, your pre-event discovery was not complete and the odds of getting the actual savings reported are at significant risk.

So, give us a call.  And ask us about our e-Procurement solutions and associated white glove services and our SafeSourceIt™ Global Supplier Database  that includes over 557,000 vendor/suppliers. We can get you better pricing on about any category of product or service.

Do you know how to spring clean your own vehicles? What about your fleet?

February 20th, 2023

After this strange winter season our personal vehicles and our fleets need a little extra care!

 

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

If you did not know the first day of spring is coming upon us.  Sure we still have a few weeks of winter to go but spring is about a month away.  After this winter season of cold and strange weather our vehicles need a little extra care to clean away the winter grime caused by the snow, ice and salt.  We all know that we need the salt to help us make our commutes safer when winter storms occur but the salt is not good for our vehicles and can cause damage over time.  The salt used on the roads and parking lots can create chemical reactions that can corrode you vehicle especially if there is any exposed metal.  Two common parts of the vehicle that can corrode from the exposure are the fuel and break lines.  These are usually more susceptible because they are close to the undercarriage of the vehicle and take most of the impact of the salt damage.  To keep the damage to a minimum you should wash your vehicles throughout the winter to help remove any of the residues that may exist between storms.  And when spring does arrive soon you should find a reputable company that can do a thorough exterior detailing job.  These companies usually have equipment that can wash your vehicles more thoroughly and get hard to reach areas such as the undercarriage where most of the damage can occur.  Besides a thorough exterior cleaning, here are some other vehicle maintenances you should consider this spring.

  • Remove and Wash Floor Mats
  • Have Oil and Oil Filter Changed
  • Have your Battery Tested
  • Check Tire Pressure and Tread
  • Replace Wiper Blades and Top off Wiper Fluid
  • Check all Fluid Levels
  • Inspect Hoses and Belts
  • Thoroughly Clean Lights and Replace Bulbs if Necessary.
  • Have Your Brakes Inspected

If you need help finding a licensed maintenance company to maintain your vehicles, feel free to contact SafeSourcing.   We can gather all the necessary information for you and help you decide which company 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