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pandemic.
LEVERAGING STRATEGIC SUPPLIER RELATIONSHIPS Strategic Supplier Relationships. Suppliers in this quadrants all share some big ticket commonalities: First and foremost – the products we buy from these suppliers shape our organizations. The way we conduct business and the final product we offer to our own customers rely on these suppliers. There is a natural scarcity in themarket.
THE VALUE OF SUPPLIER RELATIONSHIP MANAGEMENT The Value of Supplier Relationship Management. Supplier Relationship Management (SRM) provides a formalized way of interacting and managing suppliers, that promotes collaboration and innovation. In a standard sourcing event, valuable time and resources are spent in both sourcing and negotiating with key suppliers. SOURCING AUTOMOTIVE PARTS Sourcing Automotive Parts. Most automakers practice a sourcing technique in which their car’s parts are purchased from various countries around the world. For example, if you ever took a look at a Toyota’s window sticker, you will notice that only 50-60% of the car was actually assembled in the United States (US), while the rest ofthe car
STATEMENT OF WORK BEST PRACTICES A SOW details the required scope of a project, milestones, timelines, sets expectations, deliverables, and clearly outlines pricing and service level agreements. The next step is to determine what information should be included within the document. The more precise the SOW is, the better since this is a binding document between yourcompany and
CONDUCTING SUPPLIER REFERENCE CHECKS? DON'T WASTE YOUR Don't Waste Your Time. Strategic Sourceror on Thursday, November 15, 2018 Best Practices, Conducted effectively, reference checks are a great way to do away with the smoke and mirrors that often accompany RFP responses and pitch presentations. Ineffective reference checks, however, won't pay off. They'll waste time and serve as an unnecessary “CENTER-LED PROCUREMENT”, THAT'S THE TERM YOU ARE LOOKING Center-led procurement maximizes savings without causing disruption, it enables superior supplier relationship management, aligns the businesses to the strategic goals of the organization, and provides key insights and visibility into the organization’s purchasing behavior. We are fortunate to have helped many corporations movetowards this
PROCUREMENT & DATA SCIENCE Procurement & Data Science. Thanks in large part to modern advances in modern software and technology, we can acquire or create data on just about everything. This new-found ability to easily (and cheaply) generate and store data will likely have a very profound impact on the procurement profession. This will be the first of many posts relating IF YOU TELL ME WHAT'S IN YOUR RFP If you tell me what's in your RFP - I'll Tell you what is in mine. In the past, the sole function of an RFP was to engage with the best supplier with the best pricing. Today, it isn’t just about functionality and price; the pandemic raised awareness around financial stability and diversity qualifications that should be included when it comes MANAGING INDIRECT SPEND THROUGH GROUP PURCHASING One tried and true avenue to create savings is the utilization of Group Purchasing Organizations. GPOs are a quick way to savings because we connect our clients with the suppliers Corcentric has already partnered with and identified as among SURVIVAL OF THE FITTEST: COVID-19 & MARKET RESPONSE The phrase “survival of the fittest” originated from Charles Darwin’s evolutionary theory which highlights the concept that adaptation will lead to eventual long-term survival and success. This theory holds value more so than ever as over the span of just a few weeks the entire global economy has been interrupted by the COVID-19pandemic.
LEVERAGING STRATEGIC SUPPLIER RELATIONSHIPS Strategic Supplier Relationships. Suppliers in this quadrants all share some big ticket commonalities: First and foremost – the products we buy from these suppliers shape our organizations. The way we conduct business and the final product we offer to our own customers rely on these suppliers. There is a natural scarcity in themarket.
THE VALUE OF SUPPLIER RELATIONSHIP MANAGEMENT The Value of Supplier Relationship Management. Supplier Relationship Management (SRM) provides a formalized way of interacting and managing suppliers, that promotes collaboration and innovation. In a standard sourcing event, valuable time and resources are spent in both sourcing and negotiating with key suppliers. SOURCING AUTOMOTIVE PARTS Sourcing Automotive Parts. Most automakers practice a sourcing technique in which their car’s parts are purchased from various countries around the world. For example, if you ever took a look at a Toyota’s window sticker, you will notice that only 50-60% of the car was actually assembled in the United States (US), while the rest ofthe car
STATEMENT OF WORK BEST PRACTICES A SOW details the required scope of a project, milestones, timelines, sets expectations, deliverables, and clearly outlines pricing and service level agreements. The next step is to determine what information should be included within the document. The more precise the SOW is, the better since this is a binding document between yourcompany and
CONDUCTING SUPPLIER REFERENCE CHECKS? DON'T WASTE YOUR Don't Waste Your Time. Strategic Sourceror on Thursday, November 15, 2018 Best Practices, Conducted effectively, reference checks are a great way to do away with the smoke and mirrors that often accompany RFP responses and pitch presentations. Ineffective reference checks, however, won't pay off. They'll waste time and serve as an unnecessary “CENTER-LED PROCUREMENT”, THAT'S THE TERM YOU ARE LOOKING Center-led procurement maximizes savings without causing disruption, it enables superior supplier relationship management, aligns the businesses to the strategic goals of the organization, and provides key insights and visibility into the organization’s purchasing behavior. We are fortunate to have helped many corporations movetowards this
PROCUREMENT & DATA SCIENCE Procurement & Data Science. Thanks in large part to modern advances in modern software and technology, we can acquire or create data on just about everything. This new-found ability to easily (and cheaply) generate and store data will likely have a very profound impact on the procurement profession. This will be the first of many posts relating THE FUTURE OF SUPPLY CHAIN AND LOGISTICS IS HERE 1 day ago · The future of logistics benefits from the data provided by multiple systems, advanced analytics, and the automation of intelligence. As information is provided through the many different sources, the digital supply chain connects technologies, assets, systems, and locations to enable real-time analysis, smarter decision making, and informed actions inside the supply chain. MANAGING INDIRECT SPEND THROUGH GROUP PURCHASING One tried and true avenue to create savings is the utilization of Group Purchasing Organizations. GPOs are a quick way to savings because we connect our clients with the suppliers Corcentric has already partnered with and identified as among CPOS TAKE NOTE: BUSINESS TRAVEL IS SET TO RETURN IN A BIG 1 day ago · Back into the swing of things Of course, vaccination rates are gaining steam in many parts of the country (though some are faring better than others) and that's leading to an increase in business travel, according to CNBC.For instance, Hilton CEO Christopher Nassetta recently told the network that his company has seen business travel reach 50% of pre-pandemic averages worldwide, andeven
THE FITNESS EQUIPMENT INDUSTRY AND THEIR SUPPLY CHAIN The low production and difficulty getting products to America paired with an increase in demand has severely strained retailers' supply chains. A popular equipment manufacturer Rogue Fitness outsources their kettlebell production to Asia. Their inventory initially dwindled because of factory shutdowns and it continues to drop becauseof high
SOURCING AUTOMOTIVE PARTS Sourcing Automotive Parts. Most automakers practice a sourcing technique in which their car’s parts are purchased from various countries around the world. For example, if you ever took a look at a Toyota’s window sticker, you will notice that only 50-60% of the car was actually assembled in the United States (US), while the rest ofthe car
HOW TO INCREASE AP'S DAYS PAYABLE OUTSTANDING Days Payable Outstanding (DPO) is a key AP metric used by many organizations that relates to the entire business. Unlike other KPIs like invoice cycle times or invoices per AP staff FTE, The DPO number can have major ramifications to cash flow and the amount of financing required to keep a business propped up. MRO SPEND MANAGEMENT: BEST PRACTICES FOR LONG-TERM VALUE 1. Punch Outs. Punch Out catalogs connect a buyer's personal eProcurement system directly to their supplier's website. Buyers 'punch out' of their internal systems and gain access to their supplier's online catalog. Without such a system in place, Procurement creates far more work for itself than necessary. Whether it's loadingindividual items
5 COMMUNICATION STRATEGIES FOR SUCCESSFUL SUPPLIER 5) Designate Roles, On-board the Team, and Maximize Individual Strengths-Before practical consultation between clients and suppliers even begins, it is pertinent to establish specific roles for each team member. By doing this, along with informing each member what everyone else is responsible for, this creates accountability and helps eliminate potential confusion over who should complete PROCUREMENT & DATA SCIENCE Procurement & Data Science. Thanks in large part to modern advances in modern software and technology, we can acquire or create data on just about everything. This new-found ability to easily (and cheaply) generate and store data will likely have a very profound impact on the procurement profession. This will be the first of many posts relating IS LIBRE CALC A GOOD REPLACEMENT FOR MICROSOFT EXCEL This is an example where Libre Office exceeds the capabilities of Microsoft Excel. Libre Calc, along with the entire Libre Office package, has built-in compatibility with a variety of Document Management Systems (SharePoint, IBM FileNet, Domino, etc.) and legacy file formats. Libre Calc can only accommodate 1,024 columns, about 15times less
MANAGING INDIRECT SPEND THROUGH GROUP PURCHASING One tried and true avenue to create savings is the utilization of Group Purchasing Organizations. GPOs are a quick way to savings because we connect our clients with the suppliers Corcentric has already partnered with and identified as among LEVERAGING STRATEGIC SUPPLIER RELATIONSHIPS Strategic Supplier Relationships. Suppliers in this quadrants all share some big ticket commonalities: First and foremost – the products we buy from these suppliers shape our organizations. The way we conduct business and the final product we offer to our own customers rely on these suppliers. There is a natural scarcity in themarket.
THE RISING DEMAND OF WAREHOUSE SPACE Due to the rising demand of warehouse space, DB Schenker, a global leader in supply chain management and logistics solutions is providing a new service. This new service screens almost 9 million square meters of storage space daily. It identifies and assesses available idle space in their almost 800 logistic warehouses in more than 60countries.
SOURCING AUTOMOTIVE PARTS Sourcing Automotive Parts. Most automakers practice a sourcing technique in which their car’s parts are purchased from various countries around the world. For example, if you ever took a look at a Toyota’s window sticker, you will notice that only 50-60% of the car was actually assembled in the United States (US), while the rest ofthe car
HOW TO INCREASE AP'S DAYS PAYABLE OUTSTANDING Days Payable Outstanding (DPO) is a key AP metric used by many organizations that relates to the entire business. Unlike other KPIs like invoice cycle times or invoices per AP staff FTE, The DPO number can have major ramifications to cash flow and the amount of financing required to keep a business propped up. TIPS FOR PURCHASING WATER TREATMENT EQUIPMENT StrategicSourceror: the source for strategic sourcing tips, procurement news, and category management SME from Corcentric's procurement consultants STATEMENT OF WORK BEST PRACTICES A SOW details the required scope of a project, milestones, timelines, sets expectations, deliverables, and clearly outlines pricing and service level agreements. The next step is to determine what information should be included within the document. The more precise the SOW is, the better since this is a binding document between yourcompany and
CONDUCTING SUPPLIER REFERENCE CHECKS? DON'T WASTE YOUR Don't Waste Your Time. Strategic Sourceror on Thursday, November 15, 2018 Best Practices, Conducted effectively, reference checks are a great way to do away with the smoke and mirrors that often accompany RFP responses and pitch presentations. Ineffective reference checks, however, won't pay off. They'll waste time and serve as an unnecessary “CENTER-LED PROCUREMENT”, THAT'S THE TERM YOU ARE LOOKING Center-led procurement maximizes savings without causing disruption, it enables superior supplier relationship management, aligns the businesses to the strategic goals of the organization, and provides key insights and visibility into the organization’s purchasing behavior. We are fortunate to have helped many corporations movetowards this
REASONS TO TURN TO COST REDUCTION AND STRATEGIC SOURCING Assuming a 5%-10% profit margin in order to net an extra $100,000 your sales would have to increase by $1 - $2 million. This is why many companies choose to look the other direction and turn to industry specialists in strategic sourcing and cost reduction, bringing in an outside consulting firm such as Source One Management Services. MANAGING INDIRECT SPEND THROUGH GROUP PURCHASING One tried and true avenue to create savings is the utilization of Group Purchasing Organizations. GPOs are a quick way to savings because we connect our clients with the suppliers Corcentric has already partnered with and identified as among LEVERAGING STRATEGIC SUPPLIER RELATIONSHIPS Strategic Supplier Relationships. Suppliers in this quadrants all share some big ticket commonalities: First and foremost – the products we buy from these suppliers shape our organizations. The way we conduct business and the final product we offer to our own customers rely on these suppliers. There is a natural scarcity in themarket.
THE RISING DEMAND OF WAREHOUSE SPACE Due to the rising demand of warehouse space, DB Schenker, a global leader in supply chain management and logistics solutions is providing a new service. This new service screens almost 9 million square meters of storage space daily. It identifies and assesses available idle space in their almost 800 logistic warehouses in more than 60countries.
SOURCING AUTOMOTIVE PARTS Sourcing Automotive Parts. Most automakers practice a sourcing technique in which their car’s parts are purchased from various countries around the world. For example, if you ever took a look at a Toyota’s window sticker, you will notice that only 50-60% of the car was actually assembled in the United States (US), while the rest ofthe car
HOW TO INCREASE AP'S DAYS PAYABLE OUTSTANDING Days Payable Outstanding (DPO) is a key AP metric used by many organizations that relates to the entire business. Unlike other KPIs like invoice cycle times or invoices per AP staff FTE, The DPO number can have major ramifications to cash flow and the amount of financing required to keep a business propped up. TIPS FOR PURCHASING WATER TREATMENT EQUIPMENT StrategicSourceror: the source for strategic sourcing tips, procurement news, and category management SME from Corcentric's procurement consultants STATEMENT OF WORK BEST PRACTICES A SOW details the required scope of a project, milestones, timelines, sets expectations, deliverables, and clearly outlines pricing and service level agreements. The next step is to determine what information should be included within the document. The more precise the SOW is, the better since this is a binding document between yourcompany and
CONDUCTING SUPPLIER REFERENCE CHECKS? DON'T WASTE YOUR Don't Waste Your Time. Strategic Sourceror on Thursday, November 15, 2018 Best Practices, Conducted effectively, reference checks are a great way to do away with the smoke and mirrors that often accompany RFP responses and pitch presentations. Ineffective reference checks, however, won't pay off. They'll waste time and serve as an unnecessary “CENTER-LED PROCUREMENT”, THAT'S THE TERM YOU ARE LOOKING Center-led procurement maximizes savings without causing disruption, it enables superior supplier relationship management, aligns the businesses to the strategic goals of the organization, and provides key insights and visibility into the organization’s purchasing behavior. We are fortunate to have helped many corporations movetowards this
REASONS TO TURN TO COST REDUCTION AND STRATEGIC SOURCING Assuming a 5%-10% profit margin in order to net an extra $100,000 your sales would have to increase by $1 - $2 million. This is why many companies choose to look the other direction and turn to industry specialists in strategic sourcing and cost reduction, bringing in an outside consulting firm such as Source One Management Services. MOBILE SECURITY THREATS GROWING FOR PROCUREMENT Effectively, this allows the government (and its partner businesses) to have a better understanding of the security landscape on which they are operating, up and down the supply chain — and appointing a date by which everyone will have to be compliant, the report said. MANY PROCUREMENT PROS STILL PLAN TO WORK REMOTELY The three most commonly cited priorities for procurement organizations in the year ahead are cutting costs, improving processes and getting a better handle on evaluating their digital transformations, the surveyshowed.
IF YOU TELL ME WHAT'S IN YOUR RFP 1 day ago · In the past, the sole function of an RFP was to engage with the best supplier with the best pricing. Today, it isn’t just about functionality and price; the pandemic raised awareness around financial stability and diversity qualifications that should be included when it comes to the down selection process. LEADERS, LAWMAKERS RECOGNIZE ISSUES IN U.S. AUTOMOTIVE Meanwhile, this industry (among numerous others) has suffered through a global shortage of microchips that made it far more difficult to manufacture automobiles at high volumes, and unfortunately, this problem is expected to last at least through the end of 2021, thereport said.
SKU RATIONALIZATION IMPROVING EMPLOYEE SAFETY & COST SKU Rationalization Improving Employee Safety & Cost Savings. Many organizations in the manufacturing and industrial field often find themselves working tirelessly to ensure employee safety is practiced through the utilization and procurement of a wide variety of PPE equipment. The immediate threat of COVID-19 to the workforce has alsocreated
SOURCING AUTOMOTIVE PARTS Sourcing Automotive Parts. Most automakers practice a sourcing technique in which their car’s parts are purchased from various countries around the world. For example, if you ever took a look at a Toyota’s window sticker, you will notice that only 50-60% of the car was actually assembled in the United States (US), while the rest ofthe car
THE FITNESS EQUIPMENT INDUSTRY AND THEIR SUPPLY CHAIN The low production and difficulty getting products to America paired with an increase in demand has severely strained retailers' supply chains. A popular equipment manufacturer Rogue Fitness outsources their kettlebell production to Asia. Their inventory initially dwindled because of factory shutdowns and it continues to drop becauseof high
STATEMENT OF WORK BEST PRACTICES A SOW details the required scope of a project, milestones, timelines, sets expectations, deliverables, and clearly outlines pricing and service level agreements. The next step is to determine what information should be included within the document. The more precise the SOW is, the better since this is a binding document between yourcompany and
TIPS FOR PURCHASING WATER TREATMENT EQUIPMENT StrategicSourceror: the source for strategic sourcing tips, procurement news, and category management SME from Corcentric's procurement consultants 3 WAYS TO DRIVE STAKEHOLDER ENGAGEMENT 3. Demonstrate the value Procurement offers- The inaccurate stigma associated with procurement and supply chain professional's willing to sacrifice value for cost reduction initiatives has left stakeholders hesitant for procurement's involvement in their function.To help stakeholders understand that procurement is not purely tactical and does not simply want to achieve a percentage MANAGING INDIRECT SPEND THROUGH GROUP PURCHASING One tried and true avenue to create savings is the utilization of Group Purchasing Organizations. GPOs are a quick way to savings because we connect our clients with the suppliers Corcentric has already partnered with and identified as among LEVERAGING STRATEGIC SUPPLIER RELATIONSHIPS Strategic Supplier Relationships. Suppliers in this quadrants all share some big ticket commonalities: First and foremost – the products we buy from these suppliers shape our organizations. The way we conduct business and the final product we offer to our own customers rely on these suppliers. There is a natural scarcity in themarket.
THE RISING DEMAND OF WAREHOUSE SPACE Due to the rising demand of warehouse space, DB Schenker, a global leader in supply chain management and logistics solutions is providing a new service. This new service screens almost 9 million square meters of storage space daily. It identifies and assesses available idle space in their almost 800 logistic warehouses in more than 60countries.
SOURCING AUTOMOTIVE PARTS Sourcing Automotive Parts. Most automakers practice a sourcing technique in which their car’s parts are purchased from various countries around the world. For example, if you ever took a look at a Toyota’s window sticker, you will notice that only 50-60% of the car was actually assembled in the United States (US), while the rest ofthe car
HOW TO INCREASE AP'S DAYS PAYABLE OUTSTANDING Days Payable Outstanding (DPO) is a key AP metric used by many organizations that relates to the entire business. Unlike other KPIs like invoice cycle times or invoices per AP staff FTE, The DPO number can have major ramifications to cash flow and the amount of financing required to keep a business propped up. TIPS FOR PURCHASING WATER TREATMENT EQUIPMENT StrategicSourceror: the source for strategic sourcing tips, procurement news, and category management SME from Corcentric's procurement consultants STATEMENT OF WORK BEST PRACTICES A SOW details the required scope of a project, milestones, timelines, sets expectations, deliverables, and clearly outlines pricing and service level agreements. The next step is to determine what information should be included within the document. The more precise the SOW is, the better since this is a binding document between yourcompany and
CONDUCTING SUPPLIER REFERENCE CHECKS? DON'T WASTE YOURSUPPLIER REFERENCE CHECKA WASTE OF TIMEIT S A WASTE OF TIMESUPPLIER REFERENCE FORMCOLLEGE A WASTE OF TIMESCHOOL A WASTE OF TIME Don't Waste Your Time. Strategic Sourceror on Thursday, November 15, 2018 Best Practices, Conducted effectively, reference checks are a great way to do away with the smoke and mirrors that often accompany RFP responses and pitch presentations. Ineffective reference checks, however, won't pay off. They'll waste time and serve as an unnecessary “CENTER-LED PROCUREMENT”, THAT'S THE TERM YOU ARE LOOKING Center-led procurement maximizes savings without causing disruption, it enables superior supplier relationship management, aligns the businesses to the strategic goals of the organization, and provides key insights and visibility into the organization’s purchasing behavior. We are fortunate to have helped many corporations movetowards this
REASONS TO TURN TO COST REDUCTION AND STRATEGIC SOURCING Assuming a 5%-10% profit margin in order to net an extra $100,000 your sales would have to increase by $1 - $2 million. This is why many companies choose to look the other direction and turn to industry specialists in strategic sourcing and cost reduction, bringing in an outside consulting firm such as Source One Management Services. MANAGING INDIRECT SPEND THROUGH GROUP PURCHASING One tried and true avenue to create savings is the utilization of Group Purchasing Organizations. GPOs are a quick way to savings because we connect our clients with the suppliers Corcentric has already partnered with and identified as among LEVERAGING STRATEGIC SUPPLIER RELATIONSHIPS Strategic Supplier Relationships. Suppliers in this quadrants all share some big ticket commonalities: First and foremost – the products we buy from these suppliers shape our organizations. The way we conduct business and the final product we offer to our own customers rely on these suppliers. There is a natural scarcity in themarket.
THE RISING DEMAND OF WAREHOUSE SPACE Due to the rising demand of warehouse space, DB Schenker, a global leader in supply chain management and logistics solutions is providing a new service. This new service screens almost 9 million square meters of storage space daily. It identifies and assesses available idle space in their almost 800 logistic warehouses in more than 60countries.
SOURCING AUTOMOTIVE PARTS Sourcing Automotive Parts. Most automakers practice a sourcing technique in which their car’s parts are purchased from various countries around the world. For example, if you ever took a look at a Toyota’s window sticker, you will notice that only 50-60% of the car was actually assembled in the United States (US), while the rest ofthe car
HOW TO INCREASE AP'S DAYS PAYABLE OUTSTANDING Days Payable Outstanding (DPO) is a key AP metric used by many organizations that relates to the entire business. Unlike other KPIs like invoice cycle times or invoices per AP staff FTE, The DPO number can have major ramifications to cash flow and the amount of financing required to keep a business propped up. TIPS FOR PURCHASING WATER TREATMENT EQUIPMENT StrategicSourceror: the source for strategic sourcing tips, procurement news, and category management SME from Corcentric's procurement consultants STATEMENT OF WORK BEST PRACTICES A SOW details the required scope of a project, milestones, timelines, sets expectations, deliverables, and clearly outlines pricing and service level agreements. The next step is to determine what information should be included within the document. The more precise the SOW is, the better since this is a binding document between yourcompany and
CONDUCTING SUPPLIER REFERENCE CHECKS? DON'T WASTE YOURSUPPLIER REFERENCE CHECKA WASTE OF TIMEIT S A WASTE OF TIMESUPPLIER REFERENCE FORMCOLLEGE A WASTE OF TIMESCHOOL A WASTE OF TIME Don't Waste Your Time. Strategic Sourceror on Thursday, November 15, 2018 Best Practices, Conducted effectively, reference checks are a great way to do away with the smoke and mirrors that often accompany RFP responses and pitch presentations. Ineffective reference checks, however, won't pay off. They'll waste time and serve as an unnecessary “CENTER-LED PROCUREMENT”, THAT'S THE TERM YOU ARE LOOKING Center-led procurement maximizes savings without causing disruption, it enables superior supplier relationship management, aligns the businesses to the strategic goals of the organization, and provides key insights and visibility into the organization’s purchasing behavior. We are fortunate to have helped many corporations movetowards this
REASONS TO TURN TO COST REDUCTION AND STRATEGIC SOURCING Assuming a 5%-10% profit margin in order to net an extra $100,000 your sales would have to increase by $1 - $2 million. This is why many companies choose to look the other direction and turn to industry specialists in strategic sourcing and cost reduction, bringing in an outside consulting firm such as Source One Management Services. MOBILE SECURITY THREATS GROWING FOR PROCUREMENT Effectively, this allows the government (and its partner businesses) to have a better understanding of the security landscape on which they are operating, up and down the supply chain — and appointing a date by which everyone will have to be compliant, the report said. MANY PROCUREMENT PROS STILL PLAN TO WORK REMOTELY The three most commonly cited priorities for procurement organizations in the year ahead are cutting costs, improving processes and getting a better handle on evaluating their digital transformations, the surveyshowed.
IF YOU TELL ME WHAT'S IN YOUR RFP 21 hours ago · In the past, the sole function of an RFP was to engage with the best supplier with the best pricing. Today, it isn’t just about functionality and price; the pandemic raised awareness around financial stability and diversity qualifications that should be included when it comes to the down selection process. LEADERS, LAWMAKERS RECOGNIZE ISSUES IN U.S. AUTOMOTIVE Meanwhile, this industry (among numerous others) has suffered through a global shortage of microchips that made it far more difficult to manufacture automobiles at high volumes, and unfortunately, this problem is expected to last at least through the end of 2021, thereport said.
SKU RATIONALIZATION IMPROVING EMPLOYEE SAFETY & COST SKU Rationalization Improving Employee Safety & Cost Savings. Many organizations in the manufacturing and industrial field often find themselves working tirelessly to ensure employee safety is practiced through the utilization and procurement of a wide variety of PPE equipment. The immediate threat of COVID-19 to the workforce has alsocreated
SOURCING AUTOMOTIVE PARTS Sourcing Automotive Parts. Most automakers practice a sourcing technique in which their car’s parts are purchased from various countries around the world. For example, if you ever took a look at a Toyota’s window sticker, you will notice that only 50-60% of the car was actually assembled in the United States (US), while the rest ofthe car
THE FITNESS EQUIPMENT INDUSTRY AND THEIR SUPPLY CHAIN The low production and difficulty getting products to America paired with an increase in demand has severely strained retailers' supply chains. A popular equipment manufacturer Rogue Fitness outsources their kettlebell production to Asia. Their inventory initially dwindled because of factory shutdowns and it continues to drop becauseof high
STATEMENT OF WORK BEST PRACTICES A SOW details the required scope of a project, milestones, timelines, sets expectations, deliverables, and clearly outlines pricing and service level agreements. The next step is to determine what information should be included within the document. The more precise the SOW is, the better since this is a binding document between yourcompany and
TIPS FOR PURCHASING WATER TREATMENT EQUIPMENT StrategicSourceror: the source for strategic sourcing tips, procurement news, and category management SME from Corcentric's procurement consultants 3 WAYS TO DRIVE STAKEHOLDER ENGAGEMENT 3. Demonstrate the value Procurement offers- The inaccurate stigma associated with procurement and supply chain professional's willing to sacrifice value for cost reduction initiatives has left stakeholders hesitant for procurement's involvement in their function.To help stakeholders understand that procurement is not purely tactical and does not simply want to achieve a percentage MANAGING INDIRECT SPEND THROUGH GROUP PURCHASING One tried and true avenue to create savings is the utilization of Group Purchasing Organizations. GPOs are a quick way to savings because we connect our clients with the suppliers Corcentric has already partnered with and identified as among LEVERAGING STRATEGIC SUPPLIER RELATIONSHIPS Strategic Supplier Relationships. Suppliers in this quadrants all share some big ticket commonalities: First and foremost – the products we buy from these suppliers shape our organizations. The way we conduct business and the final product we offer to our own customers rely on these suppliers. There is a natural scarcity in themarket.
THE RISING DEMAND OF WAREHOUSE SPACE Due to the rising demand of warehouse space, DB Schenker, a global leader in supply chain management and logistics solutions is providing a new service. This new service screens almost 9 million square meters of storage space daily. It identifies and assesses available idle space in their almost 800 logistic warehouses in more than 60countries.
SOURCING AUTOMOTIVE PARTS Sourcing Automotive Parts. Most automakers practice a sourcing technique in which their car’s parts are purchased from various countries around the world. For example, if you ever took a look at a Toyota’s window sticker, you will notice that only 50-60% of the car was actually assembled in the United States (US), while the rest ofthe car
HOW TO INCREASE AP'S DAYS PAYABLE OUTSTANDING Days Payable Outstanding (DPO) is a key AP metric used by many organizations that relates to the entire business. Unlike other KPIs like invoice cycle times or invoices per AP staff FTE, The DPO number can have major ramifications to cash flow and the amount of financing required to keep a business propped up. TIPS FOR PURCHASING WATER TREATMENT EQUIPMENT StrategicSourceror: the source for strategic sourcing tips, procurement news, and category management SME from Corcentric's procurement consultants STATEMENT OF WORK BEST PRACTICES A SOW details the required scope of a project, milestones, timelines, sets expectations, deliverables, and clearly outlines pricing and service level agreements. The next step is to determine what information should be included within the document. The more precise the SOW is, the better since this is a binding document between yourcompany and
CONDUCTING SUPPLIER REFERENCE CHECKS? DON'T WASTE YOURSUPPLIER REFERENCE CHECKA WASTE OF TIMEIT S A WASTE OF TIMESUPPLIER REFERENCE FORMCOLLEGE A WASTE OF TIMESCHOOL A WASTE OF TIME Don't Waste Your Time. Strategic Sourceror on Thursday, November 15, 2018 Best Practices, Conducted effectively, reference checks are a great way to do away with the smoke and mirrors that often accompany RFP responses and pitch presentations. Ineffective reference checks, however, won't pay off. They'll waste time and serve as an unnecessary “CENTER-LED PROCUREMENT”, THAT'S THE TERM YOU ARE LOOKING Center-led procurement maximizes savings without causing disruption, it enables superior supplier relationship management, aligns the businesses to the strategic goals of the organization, and provides key insights and visibility into the organization’s purchasing behavior. We are fortunate to have helped many corporations movetowards this
REASONS TO TURN TO COST REDUCTION AND STRATEGIC SOURCING Assuming a 5%-10% profit margin in order to net an extra $100,000 your sales would have to increase by $1 - $2 million. This is why many companies choose to look the other direction and turn to industry specialists in strategic sourcing and cost reduction, bringing in an outside consulting firm such as Source One Management Services. MANAGING INDIRECT SPEND THROUGH GROUP PURCHASING One tried and true avenue to create savings is the utilization of Group Purchasing Organizations. GPOs are a quick way to savings because we connect our clients with the suppliers Corcentric has already partnered with and identified as among LEVERAGING STRATEGIC SUPPLIER RELATIONSHIPS Strategic Supplier Relationships. Suppliers in this quadrants all share some big ticket commonalities: First and foremost – the products we buy from these suppliers shape our organizations. The way we conduct business and the final product we offer to our own customers rely on these suppliers. There is a natural scarcity in themarket.
THE RISING DEMAND OF WAREHOUSE SPACE Due to the rising demand of warehouse space, DB Schenker, a global leader in supply chain management and logistics solutions is providing a new service. This new service screens almost 9 million square meters of storage space daily. It identifies and assesses available idle space in their almost 800 logistic warehouses in more than 60countries.
SOURCING AUTOMOTIVE PARTS Sourcing Automotive Parts. Most automakers practice a sourcing technique in which their car’s parts are purchased from various countries around the world. For example, if you ever took a look at a Toyota’s window sticker, you will notice that only 50-60% of the car was actually assembled in the United States (US), while the rest ofthe car
HOW TO INCREASE AP'S DAYS PAYABLE OUTSTANDING Days Payable Outstanding (DPO) is a key AP metric used by many organizations that relates to the entire business. Unlike other KPIs like invoice cycle times or invoices per AP staff FTE, The DPO number can have major ramifications to cash flow and the amount of financing required to keep a business propped up. TIPS FOR PURCHASING WATER TREATMENT EQUIPMENT StrategicSourceror: the source for strategic sourcing tips, procurement news, and category management SME from Corcentric's procurement consultants STATEMENT OF WORK BEST PRACTICES A SOW details the required scope of a project, milestones, timelines, sets expectations, deliverables, and clearly outlines pricing and service level agreements. The next step is to determine what information should be included within the document. The more precise the SOW is, the better since this is a binding document between yourcompany and
CONDUCTING SUPPLIER REFERENCE CHECKS? DON'T WASTE YOURSUPPLIER REFERENCE CHECKA WASTE OF TIMEIT S A WASTE OF TIMESUPPLIER REFERENCE FORMCOLLEGE A WASTE OF TIMESCHOOL A WASTE OF TIME Don't Waste Your Time. Strategic Sourceror on Thursday, November 15, 2018 Best Practices, Conducted effectively, reference checks are a great way to do away with the smoke and mirrors that often accompany RFP responses and pitch presentations. Ineffective reference checks, however, won't pay off. They'll waste time and serve as an unnecessary “CENTER-LED PROCUREMENT”, THAT'S THE TERM YOU ARE LOOKING Center-led procurement maximizes savings without causing disruption, it enables superior supplier relationship management, aligns the businesses to the strategic goals of the organization, and provides key insights and visibility into the organization’s purchasing behavior. We are fortunate to have helped many corporations movetowards this
REASONS TO TURN TO COST REDUCTION AND STRATEGIC SOURCING Assuming a 5%-10% profit margin in order to net an extra $100,000 your sales would have to increase by $1 - $2 million. This is why many companies choose to look the other direction and turn to industry specialists in strategic sourcing and cost reduction, bringing in an outside consulting firm such as Source One Management Services. MOBILE SECURITY THREATS GROWING FOR PROCUREMENT Effectively, this allows the government (and its partner businesses) to have a better understanding of the security landscape on which they are operating, up and down the supply chain — and appointing a date by which everyone will have to be compliant, the report said. MANY PROCUREMENT PROS STILL PLAN TO WORK REMOTELY The three most commonly cited priorities for procurement organizations in the year ahead are cutting costs, improving processes and getting a better handle on evaluating their digital transformations, the surveyshowed.
IF YOU TELL ME WHAT'S IN YOUR RFP 15 hours ago · In the past, the sole function of an RFP was to engage with the best supplier with the best pricing. Today, it isn’t just about functionality and price; the pandemic raised awareness around financial stability and diversity qualifications that should be included when it comes to the down selection process. LEADERS, LAWMAKERS RECOGNIZE ISSUES IN U.S. AUTOMOTIVE Meanwhile, this industry (among numerous others) has suffered through a global shortage of microchips that made it far more difficult to manufacture automobiles at high volumes, and unfortunately, this problem is expected to last at least through the end of 2021, thereport said.
SKU RATIONALIZATION IMPROVING EMPLOYEE SAFETY & COST SKU Rationalization Improving Employee Safety & Cost Savings. Many organizations in the manufacturing and industrial field often find themselves working tirelessly to ensure employee safety is practiced through the utilization and procurement of a wide variety of PPE equipment. The immediate threat of COVID-19 to the workforce has alsocreated
SOURCING AUTOMOTIVE PARTS Sourcing Automotive Parts. Most automakers practice a sourcing technique in which their car’s parts are purchased from various countries around the world. For example, if you ever took a look at a Toyota’s window sticker, you will notice that only 50-60% of the car was actually assembled in the United States (US), while the rest ofthe car
THE FITNESS EQUIPMENT INDUSTRY AND THEIR SUPPLY CHAIN The low production and difficulty getting products to America paired with an increase in demand has severely strained retailers' supply chains. A popular equipment manufacturer Rogue Fitness outsources their kettlebell production to Asia. Their inventory initially dwindled because of factory shutdowns and it continues to drop becauseof high
STATEMENT OF WORK BEST PRACTICES A SOW details the required scope of a project, milestones, timelines, sets expectations, deliverables, and clearly outlines pricing and service level agreements. The next step is to determine what information should be included within the document. The more precise the SOW is, the better since this is a binding document between yourcompany and
TIPS FOR PURCHASING WATER TREATMENT EQUIPMENT StrategicSourceror: the source for strategic sourcing tips, procurement news, and category management SME from Corcentric's procurement consultants 3 WAYS TO DRIVE STAKEHOLDER ENGAGEMENT 3. Demonstrate the value Procurement offers- The inaccurate stigma associated with procurement and supply chain professional's willing to sacrifice value for cost reduction initiatives has left stakeholders hesitant for procurement's involvement in their function.To help stakeholders understand that procurement is not purely tactical and does not simply want to achieve a percentage THE SOURCE ONE FAMILY:
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CORPORATE PROCUREMENT STRATEGIES AND THE RISE IN DEMAND FOR ENTERPRISE CONFERENCING SOFTWARE __ Joseph Plank __ Apr 08 2020Data Science
WHERE, WHY, AND HOW YOU SHOULD INVEST IN MARKETING DURING A RECESSION:PART 1 OF 2
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THE BENEFITS OF USING A HOLISTIC APPROACH - GPO AND STRATEGIC SOURCING __ Mike Croasdale __ Apr 09 2020Finance
“RIDING OUT” A RECESSION BY LEVERAGING FLEET OPTIMIZATION: PART 1OF 2
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GET READY FOR REVOLUTIONARY IDEAS AT THE EXECIN FORUM __ Strategic Sourceror __ Jan 30 2020 TOP STRATEGIC SOURCING ARTICLES BY SOURCE ONE: __ Featured__ FeaturedView More __ GET READY FOR REVOLUTIONARY IDEAS AT THE EXECIN FORUM In addition to sponsoring the Institute for Supply Management (ISM)’s Annual Conference, Corcentric’s Source-to-Pay team will once again host the... __ Jan 30 2020 - __ Strategic Sourceror 4 WAYS PROCUREMENT CAN CHANGE THE WORLD, ONE BUY AT A TIME __ Sep 30 2019 - __ Brandon Hummons DON'T ASK FOR THE UNREASONABLE IN A NEGOTIATION __ Jul 03 2019 - __ William Dorn RANT: DON'T USE THE WRONG PROCUREMENT METRICS __ Apr 04 2019 - __ William Dorn LOVE THE STRATEGIC SOURCEROR? TAKE OUR FIRST READER SURVEY __ Sep 28 2018 - __ Strategic Sourceror__ TOP NEWS
Telecom Marketing Big Data Observations __ Communications__ CommunicationsView More __ CORPORATE PROCUREMENT STRATEGIES AND THE RISE IN DEMAND FOR ENTERPRISE CONFERENCING SOFTWARE With the recent shift to remote work for many Americans in response to COVID-19, companies are relying on Enterprise Conferencing Software tostay ...
__ Apr 08 2020 - __ Joseph Plank WHERE, WHY, AND HOW YOU SHOULD INVEST IN MARKETING DURING A RECESSION:PART 1 OF 2
__ Apr 07 2020 - __ Jon Heller COMMUNICATIONS: FORTY YEARS IN THE MAKING. __ Dec 18 2019 - __ Leigh Merz YOUNG AND WISE: HOW HIRING A RECENT GRADUATE CAN BE A BENEFICIAL RISK __ Sep 30 2019 - __ Alexis Martin 5G, A REVOLUTION OR EVOLUTION __ Aug 30 2019 - __ Jose Schneider __ Marketing__ MarketingView More __ WHERE, WHY, AND HOW YOU SHOULD INVEST IN MARKETING DURING A RECESSION:PART 1 OF 2
IS BLACK FRIDAY THE NEW CYBER MONDAY? __ Dec 03 2019 - __ Unknown MARKET INTELLIGENCE: PART III - USING YOUR RESOURCES __ Oct 04 2019 - __ Unknown INFOGRAPHIC: DIRECT MAIL BEST PRACTICES FOR THE DIGITAL ERA __ Sep 13 2019 - __ Strategic Sourceror MARKET INTELLIGENCE: PART II - ESTABLISHING THE RIGHT CRITERIA __ Sep 13 2019 - __ Unknown __ Data Science__ Data ScienceView More __ WHERE, WHY, AND HOW YOU SHOULD INVEST IN MARKETING DURING A RECESSION:PART 1 OF 2
GREATEST HITS: DATA SCIENCE __ Nov 29 2019 - __ Strategic Sourceror SPEND ANALYSIS 101: WHY? __ Nov 15 2019 - __ Nicole O'Connell 5 BENEFITS OF BUSINESS INTELLIGENCE IN PROCUREMENT __ Sep 27 2019 - __ Khushbu Pandit RIG YOUR ORGANIZATION TO SUCCEED: DIGITAL NOMADISM, DEEP LEARNING, MACHINE LEARNING, & THE PROCUREMENT OF ALL KINDS OF FUN STUFF __ Sep 18 2019 - __ James Patounas __ Humor Rants Observations__ Humor Rants ObservationsView More __ WHY WE BUY AND SELL, LOOKING AT THE HUMANITY OF THIS COMMERCIALPRACTICE
Now a days there are many activities that we just assume as natural or part of our routine; getting dressed, making a call, taking avacation, writi...
__ Mar 31 2020 - __ Jose Schneider ACTIONS TO JUMP-START YOUR 2020 PROCUREMENT GOALS __ Dec 31 2019 - __ Arthur Piszczor THE PROBLEM WITH UGLY CHRISTMAS SWEATERS __ Dec 17 2019 - __ Bennett Glace MILLENNIAL PURCHASING TRENDS: REVOLUTIONIZING REAL ESTATE __ Oct 22 2019 - __ Unknown POPEYES' SPICY CHICKEN SANDWICH: SUPPLY CHAIN MISHAP OR MARKETINGTACTIC?
__ Sep 30 2019 - __ Arthur Piszczor __ Recent Post__ Recent Post View More __Procurement News
KEEPING YOUR FACILITIES CLEAN IMPROVES SUPPLY CHAIN EFFICIENCY __The Strategic Sourceror__ on Friday,
April 17, 2020
__0
Efficiency in the supply chain is certainly the name of the game and there are many component parts to getting your operations just rightto maximize...
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HOW TO LEVERAGE SOURCE-TO-PAY TECHNOLOGY DURING A GLOBAL SUPPLY CHAINDISRUPTION (PART 1)
__Daylen Chambliss
__ on Friday,
April 17, 2020
__0
The ongoing spread of the novel coronavirus, Covid-19 has continued to impact the global economy and business operations in ways many arestill...
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HOW SHOULD SUPPLY CHAIN COMPANIES HANDLE CORONAVIRUS POLICY? __The Strategic Sourceror__ on Thursday,
April 16, 2020
__0
Around the world, businesses and individuals alike are still trying to figure out how to strike a balance between safety and normal life amidthe coronavirus...
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PROCUREMENT TIPS FOR THE NEXT RECESSION__Samuel Cagle
__ on Wednesday, April 15, 2020__0
Last October, I had the pleasure of presenting at the 2019 IMPACT Manufacturing/Research & Development Summit in Schaumburg, IL. Mypresentation...
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TIPS TO MAKE YOUR LOADING DOCK SAFER FOR EVERYONE __The Strategic Sourceror__ on
Wednesday, April 15, 2020__0
In your warehousing facility, you may be doing a lot to help reduce the risk of injuries or accidents that befall your workers, but theremay be some...
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MRO
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Procurement Transformation Professional Services HOW GPOS CAN ENSURE SUPPLY SECURITY THROUGH A RECESSION__Ian Boyd __
on Tuesday, April 14, 2020__0
With the global economy facing a seemingly imminent recession, companies will have to make difficult decisions to minimize the impactof the downturn...
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Procurement Transformation ARE YOU REALLY GETTING THE BEST DEAL?__Brian Seipel
__ on Monday, April 13, 2020__0
Over the last couple weeks, I’ve explored ways that Procurement teams can more effectively help their organization’s weather the storm when it comes...Read more »
REDUCED WORKLOAD? TIME TO LOOK AT YOUR PROCESS__Benjamin Duffy
__ on Monday,
April 13, 2020
__0
In offices across the globe, people are working from home, companies have instituted hiring freezes, and for Procurement and AccountsPayable teams,...
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Procurement News
5 STEPS TO INCREASING PHYSICAL SECURITY AT YOUR WAREHOUSE __The Strategic Sourceror__ on Friday,
April 10, 2020
__0
If your supply chain business has a warehouse of just about any size to store products, you likely understand the need to protect thatinventory on an...
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THE BENEFITS OF USING A HOLISTIC APPROACH - GPO AND STRATEGICSOURCING
__Mike Croasdale
__ on Thursday,
April 09, 2020
__0
When undertaking a holistic spend review in order to identify opportunities for cost reduction it is important to deploy all the tools in your toolbox...Read more »
Procurement News
SOFTWARE MAY BE THE EPICENTER OF SUPPLY CHAIN RISK __The Strategic Sourceror__ on
Wednesday, April 08, 2020__0
In business and in life, it's an online world. If your supply chain company isn't keeping up to date with the latest digital technologies,the odds are...
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Procurement Technology CORPORATE PROCUREMENT STRATEGIES AND THE RISE IN DEMAND FOR ENTERPRISE CONFERENCING SOFTWARE__Joseph Plank
__ on Wednesday, April 08, 2020__0
With the recent shift to remote work for many Americans in response to COVID-19, companies are relying on Enterprise Conferencing Softwareto stay...
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KEEPING YOUR FACILITIES CLEAN IMPROVES SUPPLY CHAIN EFFICIENCY __ Apr 17 2020 - __ The Strategic Sourceror*
HOW TO LEVERAGE SOURCE-TO-PAY TECHNOLOGY DURING A GLOBAL SUPPLY CHAINDISRUPTION (PART 1)
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HOW SHOULD SUPPLY CHAIN COMPANIES HANDLE CORONAVIRUS POLICY? __ Apr 16 2020 - __ The Strategic Sourceror*
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TIPS TO MAKE YOUR LOADING DOCK SAFER FOR EVERYONE __ Apr 15 2020 - __ The Strategic SourcerorPOPULAR POSTS
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Popeyes' Spicy Chicken Sandwich: Supply Chain Mishap or MarketingTactic?
It has been 7 weeks since Popeyes released its new Spicy Chicken Sandwich and still no information on the when the controversial san...*
P&G and Nestle Won't Meet Their 2020 Deforestation Goals In a win for supply chain transparency -- and a loss for just about everything else -- the world's largest consumer goods companies ...*
4 ways Procurement can change the world, one buy at a time Whether you agree with the cause and effects of climate change or not, there is no doubt that organizations across the world play a...*
Walgreens latest company to hire supply chain leadership For retailers , supply chain optimization isn't just important, it's pivotal, a make-or-break task that often entails an entire te...*
Burger King latest to include plant-based burgers to menu Although a select few classify themselves as vegan - just 3%, according to the latest estimates from Gallup - an increasing numberof heal...
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Choosing the Right Lead Gen Partner: Two Insiders Give Their Take Pipelining is a critical part of the sales process. Veteran sales teams know that healthy pipelines ensure continued growth, even intim...
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“Riding Out” a Recession by Leveraging Fleet Optimization: Part 1of 2
This two-part Blog Series will explore strategies that procurement and fleet professionals can leverage to decrease operating costs and...
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California truckers cry foul over impact of new law on supply chain Jan. 1 not only ushered in a brand new century, but introduced an array of newly installed laws throughout the country. One of the more...
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Where, Why, and How You Should Invest in Marketing During a Recession:Part 1 of 2
It’s easy to look at a recession and decide to pump the brakes on marketing activities. After all, marketing is an investment toattra...
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How can AI help your supply chain? In recent years, supply chains have become increasingly complex and, as a consequence, produced more data for companies to interpret. Th...RECENT COMMENTS
Anonymous said, "Institute for Supply Management (ISM) 2018 SalarySurvey says:
Certified Purchasing Manager (C.P.M.) $124,538 Certified Professional in Supply Management (CPSM) $125,158 Statistically insignificant. It's likely that older, higher paid professionals with the C.P.M. are beginning to retire while younger professionals with the CPSM are rising in the ranks to replace them."on __ May 15 2018
__ Read Comment
CleanMark Labels said, "You can't emphasize this point enough #2, "When communication remains unpredictable and does not follow a cohesive chain of command, it makes others less inclined to engage with you and hinders productivity." So very true. Thanks for the great info! " on __ Aug 10 2017__ Read Comment
Anonymous said, "Wow, this article is fastidious, my sister is analyzing these kinds of things, so I am going to let know her." on __ Jul 27 2017__ Read Comment
Anthony said, "Thanks a bunch for including me, Brian Seipel! Iappreciate it.
" on __ Jul 16 2017
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Kelly Barner said, "Thrilled to have my post featured in this week's ICYMIM.... thank you!" on __ Jul 10 2017__ Read Comment
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