Morale and Productivity

June 15th, 2021

This is good repost by Margaret in todays post COVID office.

 

 

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

It is often said that happy employees are productive employees and productive employees are happy employees. So, how do the two affect each other and why? We will look at what kinds of things promote better morale and what can boost productivity.

Morale – First, morale is enthusiasm, ability, and confidence of a group. This means if your organization’s team is able, confident, and hopeful then their morale is high. If morale is high, your team is likely pretty happy with what they are doing. However, is morale is low, you may find your employees lacking motivation and drive. So, how can you boost morale? Below are a just a few ways to help morale when it seems low:

  • Talk to your employees – this may seem simple, but it gives everyone a chance to say whatever is on their mind and also opens up a line of communication that might otherwise be unused.
  • Give positive feedback – this one is essential to keeping happy employees. Giving positive feedback shows someone what they have done well and what they should do more. Small wins in the workplace are still wins and can encourage more positive behavior in the long run.
  • Be a teacher – when something doesn’t go the way expected or desired, being a teacher and giving positive advice on how to handle it and what methods could help. This is a morale boosting way of addressing a problem without placing blame or outright accusing one of erring.

While we may all want our employees to be happy simply because we value each person’s happiness, there are more reasons to help boost morale. The two are, in fact, correlated. While low morale can cause job dissatisfaction, absenteeism, and affect turnover, high morale can do the opposite. A happy employee is more likely to stay longer with a company, is more dedicated, and is more productive. On top of all of this, they can help boost the morale of other employees, helping to boost morale of an organization as a whole, increasing retention and productivity.

Another great way of boosting morale in a company is when the company itself is doing well and one particularly great way to help a company is by implementing a procurement partner. Every company has things they need to buy and source and a procurement partner can help your employee’s morale by providing assistance, expertise, resources, and results that can help everyone involved

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 you today.

 

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Busting Myths About Milk

June 11th, 2021

At one time, buying milk was simple.

 

 

Today’s repost blog is by Gayl Southard, Vice President of Administrative at SafeSourcing.

At one time, buying milk was simple. Your local dairy used to deliver it right to your doorstep.

Today, however, we have nonfat, low-fat or whole milk. There are also soy milk, almond milk, hemp, or oat milk. Do you want cow milk or goat milk? With or without lactose? Raw or pasteurized? Plain or flavored? There is controversy as to which drinks can even be called milk.

 Christopher Gardner, Ph.D., a Stanford Nutritionist Scientist, is working hard to clear up some of these myths.   Most of us grew up believing milk was good for us. It built strong bones! It was considered a source of calcium, a factor for good bone health. However, there are countries such as Japan and India where the country is predominately lactose intolerant and milk consumption is low and so is the rate of hip fractures. Many of these cultures also do more weight-bearing activities than Americans. Gardner advises that people are better off on relying on physical activity to build strong bones than consuming milk to strengthen bones. Gardner further advised milk can improve bone density, but whether it prevents bone fractures remains debatable.

Milk can be a healthier alternative to soda. The popular vanilla and chocolate plant-based milks are often laden with sugar. It is important to check the nutrition labeling. Gardner stated, “The nutrition label also allows you to compare the amount of fats, protein, carbs and vitamins in each type of milk. For example, the plant-based milks generally don’t have saturated fat like cow’s milk so they don’t raise LDL-cholesterol as much as dairy milk, but they do have about the same amount as calcium,’ he said. And soy milk has the same amount of protein as dairy milk, but almond milk has much less protein.”1

Another milk misconception is that 2 percent milk means 2 percent of calories are from fat, but it’s 2 percent of the weight (which is mainly water) and 35 percent of the calories. Whole milk has nearly 50 percent of calories from fat, and 1 percent milk has about 20 percent. The old belief was whole milk made you fat and skim milk helped you lose weight was refuted by Harvard in a study that followed over 100,000 nurses over 30 years including their dietary changes. The study revealed switching from whole milk and skim milk did not make any weight change.

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 you today.

Citations:

1 Jennifer Huber, Stanford Medicine Scooe, 8/14/2918

 

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Make Stress Your Friend

June 10th, 2021

Stress is a big part of our life today for everyone

 

Here’s a repost from Ivy Ray, Sr. Procurement Specialist at SafeSourcing Inc.

Stress is a part of life for all of us.  As long as we face encroaching deadlines, competing responsibilities, overloaded schedules, last-minute crises, financial troubles, and social conflicts, we’re going to encounter it often. So, when my cardiologist tells me ‘you have to keep yourself stress free’, my response is who does that?  Doctors have typically been telling their patients this for decades, which causes people to spas out when confronted with a stressful situation. The new science of stress reveals that how you think about stress matters.

Kelly McGonigal, PhD, a health psychologist, has a life-changing solution: “make stress your friend”.  In her 2013 TED Talk, Dr. McGonigal presented a scientific study which studied the stress patterns and responses of 30K people for 8 years.  The finding was that stress was deadly for those who believed that stress was bad for their health. Stress is not the culprit, but your thoughts surrounding stress can kill you. You should view your body’s stress response as helping you to get through a tough situation.

Anyone struggling with stress at work might take a few pointers from Major League Baseball’s mental-skills coaches. Currently, 26 of the 30 MLB teams employ sports psychologists or mental-skills coaches to help players’ mental game which can make the difference between success and failure. Ken Ravizza, a mental-skills coach for the Chicago Cubs, teaches players to stay aware of their mental state by imagining an inner traffic signal: It’s green when your body is calm and the mind focused. It turns yellow when your heart rate and blood pressure start rising and you begin having trouble focusing. It flashes red when you start believing your self-doubts. Your muscles tighten and you lose control. Dr. Ravizza directs players to choose a focal point to look at during tense moments, such as a foul pole or spot on their glove, and imbue it with special meaning.

Jonathan Fader, a former mental-skills coach for the New York Mets, coached a self-employed trader who worried so much about hitting his monthly profit targets that his performance began to slide. He advised him to let go of the outcome and focus on attaining the mental state he hoped to experience after he succeeded—calm, masterful and capable of quick, rational decisions.  By improving his performance on measures he could control, the trader began netting better monthly results. We can’t always control stressful situations, but we can control our thoughts and how we deal with them.

For more information on how SafeSourcing can assist you in exploring your procurement 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.

References———————————————————————-

https://www.ted.com/talks/kelly_mcgonigal_how_to_make_stress_your_friend

https://www.wsj.com/articles/trouble-at-the-office-baseball-can-help-1528724159

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Do you really believe that the rising prices of food and related services is needed?

June 8th, 2021

Are companies just trying to make up for losses from the last eighteen months?

 

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

These are legitimate questions because consumers at all levels of the economy are being charged more for what they are buying. There are all sorts of reasons such as the pandemic, and its impact on the global supply chain. Shortages driven by drought and other natural disasters; the dilemma of a single source supply chain that is kicking companies that went that way in the tail. I could go on and on. While there are all sorts of reasons and excuses, the fact is that companies do not need to accept the level of rising prices that they are being given by their vendors/suppliers. Nor do the vendors/suppliers need to accept the prices they are being offered for the commodities they need. And most importantly consumers do not have to accept these price increases because they have the freedom to choose to go elsewhere with their money. Consumers should try building their own shopping list and get prices from at least 5 or 6 sources. Use online price lists and shelf prices from stores you regularly frequent and others that you do not for one reason or another.  You will find better pricing for pretty much the same items, and you can also take the additional step and ask if that is the best your retailer can do. Seek out the grocery manager and say I really like your store, but the price on this item is lower elsewhere. If you do not try, you will never know.

Here is a fact for retail companies that are raising prices to their end user, the consumer. You are overpaying your suppliers. If your procurement department is not focused on getting you the best possible price, then they are not doing their job. SafeSourcing continues to source cost of goods items, services, and capital items for our customers at significantly below the prices retailers are being quoted by their supply chain partners. Again, if you always do what you have always done, you will never see improvement.

Here are just a few of the items our customers have recently sourced at much lower prices than their suppliers’ recent quotes. These are all within the last 60 days.

  1. Bottled Water 30% below recent price quote
  2. Can Liners 10% below most recent price quote
  3. Hispanic Food 15.7% below most recent price quote
  4. Sugar 9.4% below most recent price quote
  5. Corrugate Packaging 20.4% below most recent price quote

I could add dozens more in all areas of your business, but for readability with leave it at five.

Companies are focused on so many issues today relative to hiring, product mix and availability amongst others that I do not believe all is being done that can be to make sure that the best price is being made available to them or their customers.

If you don’t believe me or just are thinking blah blah blah, then call me on it and we’ll prove it to you at ZERO RISK!

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Ecosystems Abound​

June 7th, 2021

Put procurement at the center of your ecosystem

 

Todays post is from our Archives by Dave Wenig and a good read!

In technology, the term ecosystem Is used to describe a set of platforms, software, solutions, etc. that all work well together to derive more benefit for the users. Often the additional benefit is found through very well designed integration points or through efficiencies. In procurement, these ecosystems exist and create these same types of benefits for the users.

The typical Procure-to-Pay model can be used as an example of how an organization can put their procurement tools and practices at the center of their ecosystem. Some eProcurement providers, SafeSourcing included, offer integrated Procure-to-Pay solutions with a focus on procurement. As more and more organizations look to cost reductions as a key part of their strategic goals, this becomes increasingly more valuable.

Of course, many organizations have implemented or considered eProcurement in their sourcing, but from an ecosystem standpoint, many have not yet progressed to capture the additional value available. For example, an organization that utilizes eProcurement, but does not have their contract management tools within that same ecosystem often has a diminished return relative to the success of the contract management tool. When that tool falls outside of the eProcurement ecosystem, users may not receive timely notifications of key contract dates and financial losses related to renewals might be experienced.

Similarly, organizations whose eProcurement ecosystem also includes cataloging and purchase order capabilities will find that they have a higher attainment rate of the initial savings created by procurement as well as tighter adherence to approved purchases throughout the life of the agreement.

These are just two examples of how to benefit from having procurement at the center of your ecosystem. These are certainly not the only two examples. To learn how you can get more from your eProcurement tools, contact a SafeSourcing representative.

For more information, please contact SafeSourcing.

We look forward to your comments.

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The Difference between Customer Service and GREAT Customer Service

June 4th, 2021

What really is the difference between customer service and GREAT customer service?

 

Todays post  still merits your attention today  and is from our SafeSourcing archives

When you think about any type of customer service, you usually just remember your bad experiences and really great experiences. Anything that is considered expected just seems to slip through the cracks without being thought twice about.

So, how do you stand out to be that company that everyone remembers and talks about? I’m going to discuss two steps that, if you follow, you will have a very satisfied customer/client that keeps coming back to you and also refers you to others as well.

Going Above and Beyond:  Giving a customer more than what’s expected or out of the norm is always something that will be remembered. Another way to go above and beyond is overachieving. For example, if a customer requests a document by a specific date, shoot for a date that is prior to that deadline, this will show you’re engaged and committed to exceed their expectations.

Good Communication:  Make yourself readily available at all times, even if it is after hours. This shows that you are committed to get the job done and make the customer happy. Keep the customers or clients up to date and always in the loop with any information needed or requested.  By being proactive with your communication, the customer will not have to continually chase you down for information or updates.

Customer Frame of Mind:  The number one key to creating a happy customer is by placing yourself in their shoes.  Continually think, “If this was my decision to make, what information would I need?  What details would I need to know about a new vendor?  What are the missing pieces I would need to award this business?”, and then get those things.

Creating an Overall Memorable Experience:  If the above steps are followed, you will have a very happy customer. They will understand that you went outside the expected services to make sure they had a very painless and positive experience. They will remember the experience and want to share their experiences with others.

For all of your procurement needs, please contact a SafeSourcing Customer Service Representative for a great customer service experience. A service that is more than just what’s expected and that you will want to share with all of your family, friends, and/or colleagues.

We look forward to your comments.

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How many companies do you provide your data to?

June 3rd, 2021

What protections do they have in place to ensure your data is SAFE?

 

Todays post is from Ron Southard, CEO at SafeSourcing Inc.

What type of System and Organization Controls do you have in place for your company and or your service providers or both? You should probably have both and there are two important types; SOC 1 and SOC 2 (pronounced Sock)

According to Google: Typically, a SOC 1 report is designed to address internal controls over financial reporting while a SOC 2 report addresses a service organization’s controls that are relevant to their operations and compliance. One or both could be right for your organization. In my estimation you should have both with SOC 2 being critical for organizations that provide cloud services for you.

What does SOC 2 compliance mean?

According to Google, SOC 2 is an auditing procedure that ensures your service providers securely manage your data to protect the interests of your organization and the privacy of its clients. For security-conscious businesses, SOC 2 compliance is a minimal requirement when considering a SaaS provider.

The SafeSourceIt™ family of eProcurement solutions are SOC 2 compliant, so that our customers do not have to worry about their data and can focus on the important task of sourcing the best products and services at the best price at the right time to support their customers.

If you would like to learn more about SafeSourcing, please reach out to one of our very talented customer services account managers.

 

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Here’s one from the Archives! Excuses vs. Reasons

June 2nd, 2021

What’s the difference between an excuse and a reason?

 

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

What is the difference between an excuse and a reason? Certainly, anyone could find the definition for each and understand better. For reference, here is what Dictionary.com lists as the definition for excuse and reason.

  • Excuse: an explanation offered as a reason for being excused; a plea offered in extenuation of       a fault or for release from an obligation, promise, etc.
  • Reason: a basis or cause, as for some belief, action, fact, event, etc.

At SafeSourcing we have encountered many excuses and reasons from a variety of sources. We hear both from our vendor partners every single day in regard to the invitations we extend to them to submit proposals during our eRFx Events on behalf of our customers. This is not a negative statement, but simply an observation. What is interesting about excuses and reasons is that can both have the same effect.

The excuses and reasons vary fairly widely. Let’s look at a few examples in an effort to understand them.

One reason we might find that a vendor we have invited to quote on our customer’s business is that they do not have the capacity at the present to provide the products or services at the scale that the customer requires. This is a reason because it is based on facts. This reason is perfectly understandable. Another reason a vendor might list for declining our invitation is their inability to provide pricing at competitive rates. Perhaps their own supply chain does not allow for the appropriate level of discount that our customer requires. Again, this is a reason why a vendor cannot participate in an eRFx Event.

Excuses can tend to be a little hazy and difficult to support by facts as reasons can. One example of an excuse we might hear in response to our invitation to participate in an eRFx Event is the lack of time. A vendor representative might offer their travel schedule as their excuse for declining noting that they do not have time at present. While it’s possible that time restraints exist, in most cases, this can be worked out so that the vendor can still participate. Another example of an excuse may be found in the vendor’s personal preferences. The vendor might prefer to work directly with the customer to develop a proposal. This excuse is fairly transparent in that they would prefer not to participate competitively in an eRFx Event, but rather deal directly and exclusively with the customer. It’s easy to imagine why this would be beneficial to the vendor, but it’s more difficult to see how this benefits the customer.

These are only a handful of examples of excuses and reasons, but they illustrate that there is a difference between the two and that they are not equal in status. Vendors aren’t the only parties that have reasons and excuses, of course. Sometimes our customers have reasons why they choose not to use eRFx Events for their sourcing even though to do so with SafeSourcing has historically caused savings in excess of 24%. Some reasons are perfectly understandable such as when the customer is in an existing contract that currently prevents their use of our services. Some excuses are just that like when a customer prefers to do business with a certain vendor because that vendor has “been a good partner” to them over the years. This statement may be true, but tends to be more of an explanation than a basis.

At SafeSourcing, we always encourage our vendor partners and our customers to consider carefully the decisions they make. We understand reasons, but we respectfully challenge excuses to the benefit of all parties involved.

Contact SafeSourcing, Inc. if you’re interested in learning more about how RFQ Events can help your company advance the bases and achieve savings.

References:

https://www.dictionary.com/browse/reasony

https://www.dictionary.com/browse/excuse?s=t

 

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Contract review is tedious work?

June 1st, 2021

Who does this in your company and what are they missing?

 

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

Many large companies have law departments and at least as many don’t. Most small companies don’t either. Which company is in better position to review and evaluate existing contracts?

The answer is neither or maybe both. The first important question for each type of company is who is actually evaluating the contracts, and just because they have a law degree does not mean that contract evaluation is a specific skill set this individual may possess. This author strongly recommends choosing who will provide this function within your company or as a service and then make absolutely sure that they have the skill set required to do the job and stay up to date.

There are any number of contract management certificate programs available from prestigious and well know institutions. To name a few, there is Villanova University, The University of California Irvine and St. Louis University. In addition there are organizations that also offer this type of training. Probably the most well know is, the National Contract Management Association or NCMA that has been around for over 50 years.

Many of these organizations offer on line courses that can be completed within a reasonable period of time. Many of the University and College courses are actually accredited as well as affiliated with NCMA.

Once you have resources that are certified, provide them with the tools they need to do their job. All companies have 100’s if not 1000’s of contracts and most do not have a contract management solution. These solutions today are available via the cloud in Software as a Service model for very little investment. You can buy what you need when you need it. Most of good providers will also assist with evaluating your existing contracts in order to create your Meta data and populate your  contract database.

SafeSourcing offers a cloud based Software as a Service contract management solution called SafeContract™ which is supported by these types of services.

Please contact a SafeSourcing  customer services representative in order to learn more.

We look forward to and appreciate your comments.

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What is a chaebol?

May 27th, 2021

Here's an interesting tip: The SafeSourcing Wiki defines chaebol as.....

 

Today’s post is our archives at SafeSourcing.

Chaebols are large, family owned South Korean business conglomerates, such as Samsung, Hyundai and LG. The word chaebol translates to “business family” or “monopoly” in Korean. Chaebols are multinational corporations, typically owning numerous international enterprises. Chaebol are owned and controlled by a family dynasty, generally that of the group’s patriarch.

Despite their economic dominance in South Korea and the belief that monopoly structures restrict smaller companies that compete against them, public opinion of chaebols in South Korea is generally supportive. Largely the public views the chaebols as the primary vehicle taking South Korea out of financial crisis.

Let SafeSourcing better manage your sourcing projects. We enjoy bringing this blog to you every week and hope you find value in it. For more information on how we can help you with your procurement needs 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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