“To Make Change in Some Different Way”

July 14th, 2021

With the advent of every new management tool comes a painfully predictable wave of human resistance......

 

Today’s post is from our Archives at SafeSourcing, Inc.

With the advent of every new management tool comes a painfully predictable wave of human resistance. The reasons people resist new tools and processes are as varied as the number of humans that have been asked to change.  Some employees strongly resist change because the effects are unpredictable.  Other peers view changes in their quality processes as risky and they fight it only on principle. It’s almost natural that people wait for others to embrace change before they accept anything new.  When late adopters don’t embrace change, the resulting lack of shared vision and inconsistent implementation confuses and eventually kills any change effort.  As wide-ranging as the reasons are for resisting change, the various forms of reluctance share one common trait.  The people fighting change are rational. This is true when it comes to procurement,  meaning the art of buying goods and services.  Over the years, procurement pros have become responsible for larger budgets and interestingly from both 10 years ago and today not much has changed with some aspects of the procurement process.  Then, as now, procurement professionals say their biggest challenges are having accurate forecasts and having to do more with fewer people. More automation or use of technology can only help improve the profession.

SafeSourcing eProcurement tools, in particular the reverse auction process, is a fairly new way to increase your bottom line utilizing SafeSourcing Inc’s full service offerings to enhance the spend process.  Using new technologies as described will put additional profit dollars directly on your bottom line where the savings are traditionally 10X your investment utilizing eProcurement tools.  You’re just accepting a different way to facilitate the bids/pricing process many times with your incumbent vendors.

For more information on how SafeSourcing can help in your procurement efforts, 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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Creating our own limitations.

July 13th, 2021

You've heard your limits are self-imposed?, but you'd be amazed how far we can extend those self-limitations.

 

 

Todays post is from our SafeSourcing Archives.

Opportunities to learn are everywhere but can be used either to improve or damage your capabilities. For example, any married couple knows it’s not easy to have two flawed individuals share life together. However, even in less than ideal situations, there are opportunities to learn that you will never get anywhere else other than a situation where someone’s soul is borne to you in ways neither individual can hide from. There will be opportunities to learn how others think and operate, and to discover your own biases and shortcomings. However, there will also be opportunities to hide your insecurities, deny your flaws, blame shift, and stubbornly hold fast to your own LIMITATIONS. This is typically what people do when meeting viewpoints different from their own: We get defensive, myopic, and squander an opportunity to better ourselves.

Whether we like it or not, character traits like humility, and work ethic, will profoundly influence how well we perform our professional activities. No one promoted this fact more heavily than the author of. The 7 habits of highly effective people.

Stephen Covey proposed that maturity is a continuum from least to most mature by the steps of Dependence (reliance on others), to Independence (reliance on self), to Interdependence (Independently chosen reliance on others, to accomplish cooperatively what we cannot independently). This is counterintuitive because we typically think of Independence as being the most mature, in the form of the lone wolf leader, or the maverick who does things his/her way. But the truth is it’s far more difficult and beneficial to assume someone else might know something you don’t. By definition, this means you have to let other people make decisions out of their unique perspective and expertise that you WOULD NOT, or else you’ll always be LIMITED by your own understanding, and no organization will ever be all it can be without utilizing the collective expertise of the group.

Are your limits strictly determined by how hard you work? How fearless you are? How smart you are? What if you’re limiting yourself by making assumptions about how much value other individuals or organizations can contribute to your business? Do we have the strength of character to admit there are individuals or organizations that can perform certain tasks better than we can? Leaning on other’s expertise isn’t an insult to your capabilities; it’s a means of interdependent improvement.

There are variables in our lives we genuinely can’t control, and we shouldn’t want to, especially when it comes to learning through how we work and relate with other people. If we truly want to extend beyond our current limits, we have to allow external factors to force us to explore outside of our current paradigms, and deliberately chose to EXPAND, not LIMIT, our understanding through it.

For more information on how SafeSourcing can assist your team with this process 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.

 

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Balance the power in your negotiations

July 9th, 2021

Executing your procurement strategy when negotiation power seems out of balance.

 

 

Today’s re-post is by Dave Wenig, Sr. VP of Sales and Services at  SafeSourcing.

Dave considers how best to navigate a purchasing decision when external factors are the key drivers.

There are times when a purchaser may feel as though the balance of power in a negotiation is stacked in favor of the seller and factors such as limited sources of supply or external factors are strongly influencing the decision.

Let’s revisit a situation that retailers were facing a couple of years ago!

Retailers had been navigating through the process of implementing EMV solutions and were expected to have completed this process by October of 2015 for their in-store POS terminals. EMV, which is short for Europay, MasterCard, and Visa, is a standard for payment cards that is meant to be a more secure replacement than the magnetic stripe cards that we’re used to; although these chip cards do still have the magnetic stripes.

Their next deadline for EMV compliance was to affect the forecourt. For gas station retailers, the deadline to implement EMV capabilities at the pump was October 2017. After the deadline, the liability for fraudulent transactions will shift to the retailer if the retailer is not leveraging EMV. What this means for the retailer is that they are faced with a significant purchase with what seem to be limited options for implementation based on their existing equipment and other factors.

When faced with a decision such as this, it’s helpful to have a partner with the tools and experience to help guide you through the decision process. This is particularly important when your options seem limited or controlled by external factors like the EMV deadlines. Experience provides the confidence and the competence to develop and execute your commercial negotiation strategy. Your partner’s tools provide the capability and the leverage to balance the power in the negotiation.

In the case above, many companies contacted SafeSourcing for assistance.

At SafeSourcing we are devoted champions of saving money on just about any category that you can come up with. In fact we probably source it more often than your buyers or category managers do. All of our team member at SafeSourcing, would be excited to discuss how adding e-Procurement to your sourcing projects can improve your negotiation process. For more information, please contact a SafeSourcing representative.

We look forward to your comments.

 

 

 

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Effective Supplier Data Management Improves Procurement Process

July 6th, 2021

The title of this post is taken from an article in the by the same title from the April 2011 Edition of Technology First in Dayton Ohio by Ron Southard CEO of SafeSourcing and Tim Hull President and CEO of TDH Marketing.

 

This may be old, eight (10) years in fact. Its still no less true today then it was then.

The following excerpt is from the above titled article.

There is more to an effective e-procurement program than cost reduction.

While buyers frequently record cost reductions in the range of 30% to 40% when utilizing an e-procurement or reverse auction process, the issues of quality and performance cannot be overlooked.

The foundation for successful e-procurement is the supplier database
that has been developed and is maintained by the e-procurement service provider. Significant time and capital investment goes into the development of an effective supplier database. It provides the buyer with a recognizable advantage in terms of classification of supplier capabilities, historical performance and the quality of the products provided.

The scope, accuracy and functionality of the supplier database are critical components for buyers when using e-procurement. These elements allow buyers to identify the best sources of supply quickly and cost-effectively, oftentimes uncovering alternative sources that were previously not even considered. This is one of the major advantages of including the services of an online reverse auction service provider like SafeSourcing in the procurement process.

Supplier data management is an excellent example of pairing technology advancements with intellectual property to produce an effective, economical support tool that benefits both suppliers and buyers – better pricing, better quality and better sources of supply.

Click here in order to view the entire article.

We look forward to and appreciate your comments.

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What does “reducing expenses” mean to you?

June 29th, 2021

These days more companies are saying that they are focused on expenses. Is this just more talking points?

 

Today’s re-post is by Dave Wenig, Senior Vice President of Sales and Services at SafeSourcing.

At SafeSourcing, we’re always focused on expenses. Helping our customers manage their expenses and reduce costs is in our DNA. It’s fair to say that nearly every organization we work with also has some degree of their focus placed on expense management too. The degree to which this is true varies, but expenses are usually an area of at least some focus.

These days, the level of focus on expense management and reduction seems to be higher. At least, that’s what we are hearing. We hear several times a day from many organizations that they are really focused on expenses right now. But what does that mean and what are you actually doing about it?

There are certainly many ways that one might decide tackle expense reduction. There are some very severe measures like furloughs and layoffs that, while effective in reducing expenses, have some other wide-reaching negative side effects on your business. There are some more temporary measures that can be taken such as freezing spending in certain areas. This can also be effective in the near-term, but this too has negative consequences.

In these times, measures such as these are being considered and implemented regularly. We see it in the news and we hear it in conversation.

There is another way to manage and reduce expenses, of course. Our readers already know that SafeSourcing reduces costs for our customers while maintaining current specifications and service levels and the cost reductions are not temporary. On average, we deliver over 24% cost reduction across all spend categories. That means that if you work with SafeSourcing to reduce your expenses, the reduction scales as you go. If you source $100,000 using our services, your new expense may be around $75,000 after working with us. If you source $10,000,000 using our services, your new expenses may be around $7,500,000.

Plus, working with SafeSourcing also means you get to hand off the hard work of finding vendors and negotiating new rates which can be very time consuming, especially if you’ve already reduced headcount.

I thought it was a good time to share a reminder that there are options if expense reduction is your new priority.

What does “reducing expenses” mean to you?

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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Safety in Contracts

June 24th, 2021

You’ve heard of safety in numbers, but what about safety in contracts?

 

Today’s post is by Dave Wenig, Sr.Vice President of Sales and Services at SafeSourcing.

We’ve all heard that there is safety in numbers. It’s generally understood that in a larger group, each individual has a lower chance of something bad happening. Fish do it… humans too.

The point is that safety is a general concern. While we all take precautions to ensure personal safety, often the same level of attention is not paid to the safety of our contracts. Of course, there are contract management solutions available to provide safety relative to your contracts.

As I see it, contract safety is knowing when contracts are set to expire and proactively taking steps to prevent unfavorable auto-renewals. Contract Safety is knowing that the price you negotiated is also the price you pay throughout the contract term. Contract safety is always having your contracts at hand in the event that you need to review them.

Without these elements, you don’t have contract safety. If you don’t know where the contract is or you can’t verify the terms including pricing, or you don’t know when the contract ends, then you do not have contract safety.

Again, there is reasonably sound logic behind the theory that there is safety in numbers. I encourage you to take the same logical approach the safety of your contracts.

Dave Wenig is a Regional Sales Manager at SafeSourcing and is a devoted champion of saving money. Dave or any member of the experienced team at SafeSourcing would be happy to discuss how SafeContract™ can provide you with contract safety. For more information, please contact a SafeSourcing representative.

We look forward to your comments.

 

 

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The Slow Boat to China  

June 22nd, 2021

For individuals waiting for a delivery that is stuck in transit, it is a minor irritation!

 

Today’s post is written by Ivy Ray, Senior Procurement Specialist at SafeSourcing Inc.

For individuals waiting for a delivery that is stuck in transit, it is a minor irritation.  If you are a manufacturer producing supplies for your customer, it is a nightmare! Higher shipping costs have tremendously impacted the supply chain.  In addition to the increased cost, there are longer wait times, due to the slower circulation of containers. This slowdown, driven by the pandemic, is crippling to the supply chain, and has reduced overall capacity.  All of which is driving up rates and creating massive delays that are expected to continue for weeks to come.

China has been requesting the return of their containers after unloading, so instead of the usual filling of the returned container with goods, they are going back empty. Other factors, including reduced labor productivity at warehouses and at marine terminals, are also contributing to this issue.

In “normal times”, the alternative of air freight would be an option to relieve the strain, but these are not normal times.  Freight rates from China to the U.S. have surged 300% and international flight volumes have plunged due to recent travel restrictions. Air freight companies typically use the extra capacity on the belly of a passenger plane to transport cargo. Hopefully, the recent increase in passenger travel will soon bring this option back into play.

While there are always factors that have negative impact on the supply chain, these instances usually occur and are most times expected.  The recent traffic jam on the Suez Canal did not help matters at all. Global trade has been disrupted and is affecting multiple industries simultaneously which is unprecedented. Economies around the globe are absorbing the ripple effects of the disruption and there is an expectation that this will last, though the end of this year.  We are back to quoting the frequently used phrase for 2020, “we’re all in this together”, and we will have to hold on and wait for our ship to come in!

For more information on how SafeSourcing can help your procurement efforts, or on our Risk

Free trial program, please contact a SafeSourcing Customer Service Representative.  We have an entire team ready to assist

 

We look forward to your comments.

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What Can You Do to Improve Your Company’s Finances?

June 18th, 2021

I recently started working on a new tool that our team will be using.

 

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

I recently started working on a new tool that our team will be using to show our prospective clients and current clients how much savings that we at SafeSourcing can offer them.  While working on this tool, it reminded me of when I first started with the company years ago.  I was watching one of our RFQs that was running for one of our clients and was amazed that they received pricing that was more than 20 percent less than what they were currently paying.  My first question to one of my colleagues was, why are they paying so much?  And then my next question was, why doesn’t everyone do this?  Running an RFQ cannot only save you money on current products or services that you purchase but can also help in cost avoidance.  If you have current contracts ending soon, it is very possible that you will see those prices rising.  Running an RFQ with us could help you to avoid having to incur costs in the future.  If you would like to learn more about cost avoidance, take time to review data from a recent SafeSourcing BLOG.

Below are some of the RFQs that we have recently run for our customers to help them lower their expenses.

  1. Vehicle Leases
  2. Fleet Purchase or Lease
  3. Fleet Repair and Maintenance
  4. Diesel Fueling Program
  5. Plastic Supply Items
  6. Plastic Bags
  7. Paper Bags
  8. Lids and Straws
  9. Pest Control
  10. Office Supplies
  11. Cleaning Supplies
  12. Liquid and Foam Sanitizer
  13. Waste Removal
  14. Propane Exchange
  15. Uniforms
  16. Receipt Paper
  17. Bottled Water

Interested in learning how SafeSourcing can help your company save money and run more efficiently?  If you would like more information on how SafeSourcing can help your procurement efforts, 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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So what?

June 17th, 2021

What would it mean to you if you cut your expenses by 25%?

 

Today’s post is by Dave Wenig is the Senior Vice President of Sales and Services at SafeSourcing Inc

Let’s get right to the point. What incentive do you have to reduce the costs that are within your control? Would you get a bonus? Would you get a bigger boat? Maybe a vacation home? Maybe it’s just one of many KPIs that gets tracked and rolled up into your performance review. What is it that would change the way you’re living?

The answer to that is going to be different for everyone, of course. But that’s also the answer to the question posed in the title of this blog. So what?

SafeSourcing is constantly proving that we can deliver an average 24.8% savings. But if that doesn’t matter to you, then why bother. If you are not responsible for managing expenses, then who is, and would it matter to them?

The reality is that payroll expenses are on the rise even while headcount is low. Vendors are pushing their price increases again with incredible frequency and at awfully high levels. In fact, we’re hearing stories about being understaffed by about 20% while those same companies are seeing seven figure salary expense increases to maintain their operations through overtime and other pay increases.

What’s your “so what?” If you don’t have one, I promise you that someone in the organization does and they would be very happy if you helped them reach their goals.

For more information, please contact SafeSourcing.

 

 

 

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Business Education

June 16th, 2021

Being able to exhibit the ability and desire for continuous learning is an essential​ skill!

 

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

While much of today’s workforce has had some sort of formal or higher education, many jobs do not necessarily require that particular education level but may require just some level of education. The reason for this is because that while specific disciplines may not be needed to perform a job, it does require the general education skills that come with most college or other higher degrees. For example, a job may need a person to be able to create and give power point presentations, which is something that is often taught in higher education. This idea is flawed, because of course people may know how to do certain tasks without a formal education and it is also true that some with a formal education may not know how to do certain tasks. This is where business education comes in.

Some workplaces require higher skills at some things rather than others. Perhaps one job requires great rapport and phone skills while another requires a focused and regular use of excel. Businesses can not only look for candidates that fit each role the best, but also can implement on the job training. This ensures that employees are provided the tools and ability to perform tasks to their greatest capability.

In addition to training employees on some of the skills they will need, general education about a particular industry can help an employee understand not only what they are doing, but also why they are doing that task. If employees understand the importance of a duty, they will likely proudly perform that task because they understand the impact it will have on the other employees and the company as a whole.

SafeSourcing utilizes training as a regular practice for clients and for employees. In addition, we provide to the public a free newsletter every month that contains useful information about businesses, the economy, markets, or trades. On top of that, SafeSourcing also has a free wiki with industry related terms and definitions so that everyone can have access to the knowledge needed to perform to their utmost best.

For more information on how SafeSourcing can help with your understanding of business needs, explore products that are good to source, or on our Risk Free trial program, please Contact a SafeSourcing Customer Service representative.

We have an a very educated and business savvy team ready to assist you today.

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