#supplier diversity

[pegbo-com]

Partner for Supplier Diversity Procurement

Strategic Sourcing Partner for Supplier Diversity Procurement

Empowering Inclusivity, Connecting Suppliers to Job Opportunities

Find local, small & diverse suppliers, jobs and rental equipment all in one platform.

[procurement-insights]

Are Supplier Diversity Programs Running Out of Gas - Again?

Who is ultimately responsible for supplier diversity success?

“When I was given an advanced peek at Jamie Crump’s white paper, “Rumors of My Death Have Been Greatly Exaggerated: How Supplier Diversity Will Thrive in 2024 and Beyond”, a cascade of thoughts ran through my head. To start, I was reminded of my research on diversity some time ago and how, even though it is a significant focus in 2023, the idea or concept was first introduced in the…

[mckinlily]

Plot armor but it’s Bruce Wayne’s wealth.

Bruce is one of the richest men in the world. Bruce does not want to be one of the richest men in world.

He starts by implementing high starting salaries and full health care coverages for all levels at Wayne Enterprises. This in vastly improves retention and worker productivity, and WE profits soar. He increases PTO, grants generous parental and family leave, funds diversity initiatives, boosts salaries again. WE is ranked “#1 worker-friendly corporation”, and productively and profits soar again.

Ok, so clearly investing his workers isn’t the profit-destroying doomed strategy his peers claim it is. Bruce is going to keep doing it obviously (his next initiative is to ensure all part-time and contractors get the same benefits and pay as full time employees), but he is going to have to find a different way to dump his money.

But you know what else is supposed to be prohibitively expensive? Green and ethical initiatives. Yes, Bruce can do that. He creates and fund a 10 year plan to covert all Wayne facilities to renewable energy. He overhauls all factories to employ the best environmentally friendly practices and technologies. He cuts contracts with all suppliers that engage in unethical employment practices and pays for other to upgrade their equipment and facilities to meet WE’s new environmental and safety requirements. He spares no expense.

Yeah, Wayne Enterprises is so successful that they spin off an entire new business arm focused on helping other companies convert to environmentally friendly and safe practices like they did in an efficient, cost effective, successful way.

Admittedly, investing in his own company was probably never going to be the best way to get rid of his wealth. He slashes his own salary to a pittance (god knows he has more money than he could possibly know what to do with already) and keeps investing the profits back into the workers, and WE keeps responding with nearly terrifying success.

So WE is a no-go, and Bruce now has numerous angry billionaires on his back because they’ve been claiming all these measures he’s implementing are too expensive to justify for decades and they’re finding it a little hard to keep the wool over everyone’s eyes when Idiot Softheart Bruice Wayne has money spilling out his ears. BUT Bruce can invest in Gotham. That’ll go well, right?

Gotham’s infrastructure is the OSHA anti-Christ and even what little is up to code is constantly getting destroyed by Rogue attacks. Surely THAT will be a money sink.

Except the only non-corrupt employer in Gotham city is….Wayne Enterprises. Or contractors or companies or businesses that somehow, in some way or other, feed back to WE. Paying wholesale for improvement to Gotham’s infrastructure somehow increases WE’s profits.

Bruce funds a full system overhaul of Gotham hospital (it’s not his fault the best administrative system software is WE—he looked), he sets up foundations and trusts for shelters, free clinics, schools, meal plans, day care, literally anything he can think of.

Gotham continues to be a shithole. Bruce Wayne continues to be richer than god against his Batman-ingrained will.

Oh, and Bruice Wayne is no longer viewed as solely a spoiled idiot nepo baby. The public responds by investing in WE and anything else he owns, and stop doing this, please.

Bruce sets up a foundation to pay the college tuition of every Gotham citizen who applies. It’s so successful that within 10 years, donations from previous recipients more than cover incoming need, and Bruce can’t even donate to his own charity.

But by this time, Bruce has children. If he can’t get rid of his wealth, he can at least distribute it, right?

Except Dick Grayson absolutely refuses to receive any of his money, won’t touch his trust fund, and in fact has never been so successful and creative with his hacking skills as he is in dumping the money BACK on Bruce. Jason died and won’t legally resurrect to take his trust fund. Tim has his own inherited wealth, refuses to inherit more, and in fact happily joins forces with Dick to hack accounts and return whatever money he tries to give them. Cass has no concept of monetary wealth and gives him panicked, overwhelmed eyes whenever he so much as implies offering more than $100 at once. Damian is showing worrying signs of following in his precious Richard’s footsteps, and Babs barely allows him to fund tech for the Clocktower. At least Steph lets him pay for her tuition and uses his credit card to buy unholy amounts of Batburger. But that is hardly a drop in the ocean of Bruce’s wealth. And she won’t even accept a trust fund of only one million.

Jason wins for best-worst child though because he currently runs a very lucrative crime empire. And although he pours the vast, vast majority of his profits back into Crime Alley, whenever he gets a little too rich for his tastes, he dumps the money on Bruce. At this point, Bruce almost wishes he was being used for money laundering because then he’s at least not have the money.

So children—generous, kindhearted, stubborn till the day they die the little shits, children—are also out.

Bruce was funding the Justice League. But then finances were leaked, and the public had an outcry over one man holding so much sway over the world’s superheroes (nevermind Bruce is one of those superheroes—but the public can’t know that). So Bruce had to do some fancy PR trickery, concede to a policy of not receiving a majority of funds from one individual, and significantly decrease his contributions because no one could match his donations.

At his wits end, Bruce hires a team of accounts to search through every crinkle and crevice of tax law to find what loopholes or shortcuts can be avoided in order to pay his damn taxes to the MAX.

The results are horrifying. According to the strictest definition of the law, the government owes him money.

Bruce burns the report, buries any evidence as deeply as he can, and organizes a foundation to lobby for FAR higher taxation of the upper class.

All this, and Wayne Enterprises is happily chugging along, churning profit, expanding into new markets, growing in the stock market, and trying to force the credit and proportionate compensation on their increasingly horrified CEO.

Bruce Wayne is one of the richest men in the world. Bruce Wayne will never not be one of the richest men in the world.

But by GOD is he trying.

[procurengine3]

The Power of Good Procurement Practices in Business Growth | ProcurEngine

The Importance of Good Procurement Practices in Business Success

Good Procurement Practices play a pivotal role in the success of any business. These practices not only help in optimizing costs but also enhance the efficiency and effectiveness of the procurement process. With the growing complexities in the global supply chain, it has become essential for businesses to adopt robust procurement strategies that align with their overall goals. This content will delve into the key aspects of good procurement practices, how they contribute to business success, and why they are vital in today’s competitive landscape.

What are Good Procurement Practices?

Good procurement practices involve a set of standardized processes and guidelines that ensure the acquisition of goods and services is done efficiently, cost-effectively, and in compliance with the company’s policies. These practices are designed to maximize value, minimize risk, and promote transparency in the procurement process.

Key Elements of Good Procurement Practices:

Strategic Sourcing: Strategic sourcing involves analyzing the company's spending and identifying opportunities to reduce costs and improve supplier performance. This practice ensures that the business is procuring the right goods and services at the best possible price without compromising on quality.

Supplier Relationship Management: Building strong relationships with suppliers is crucial for the long-term success of any procurement strategy. Good procurement practices emphasize the importance of collaboration, communication, and mutual trust between the company and its suppliers.

Risk Management: Effective procurement practices include identifying potential risks in the supply chain and developing strategies to mitigate them. This could involve diversifying suppliers, negotiating favorable contract terms, and implementing contingency plans to address unforeseen disruptions.

Compliance and Ethical Standards: Adhering to legal and ethical standards is a fundamental aspect of good procurement practices. This includes ensuring compliance with relevant regulations, promoting fair competition, and avoiding conflicts of interest.

Technology Integration: Leveraging technology in procurement processes can lead to significant improvements in efficiency and accuracy. Tools such as procurement management software, e-sourcing platforms, and automated procurement systems can streamline operations and provide valuable insights into procurement performance.

How Good Procurement Practices Enhance Business Efficiency

Implementing good procurement practices can significantly enhance a company’s operational efficiency. Here’s how:

Cost Reduction: By adopting strategic sourcing and competitive bidding processes, businesses can secure better deals with suppliers, leading to substantial cost savings. Additionally, reducing wastage and optimizing inventory management can further lower expenses.

Improved Supplier Performance: Effective supplier relationship management ensures that suppliers meet their commitments regarding quality, delivery times, and pricing. This reliability translates into smoother operations and fewer disruptions in the supply chain.

Faster Decision-Making: Good procurement practices often involve the use of procurement management software that provides real-time data and analytics. This enables procurement teams to make informed decisions quickly, reducing lead times and improving responsiveness to market changes.

Risk Mitigation: Proactive risk management strategies, such as diversifying suppliers and regularly reviewing contracts, help businesses minimize the impact of supply chain disruptions. This ensures continuity of supply and protects the company from potential losses.

Enhanced Transparency: Adopting standardized procurement processes and maintaining accurate records promotes transparency in the procurement function. This transparency fosters accountability and reduces the risk of fraud and corruption.

The Role of Procurement Software in Implementing Good Practices

Procurement Software is a crucial tool in modern procurement practices. It automates and streamlines various procurement activities, making the process more efficient and effective. Here’s how procurement software supports good procurement practices:

Automation of Routine Tasks: Procurement software automates repetitive tasks such as purchase order creation, invoice processing, and supplier evaluations. This not only saves time but also reduces the likelihood of errors.

Centralized Data Management: The software provides a centralized platform where all procurement data is stored and accessible. This centralization improves data accuracy, enables better decision-making, and facilitates compliance with regulatory requirements.

Supplier Performance Monitoring: Procurement software allows businesses to track and evaluate supplier performance over time. This helps in identifying top-performing suppliers and addressing any issues with underperforming ones.

Enhanced Collaboration: With procurement software, procurement teams can collaborate more effectively with suppliers and internal stakeholders. This collaboration leads to better alignment of procurement activities with business goals and improves overall efficiency.

Real-Time Reporting and Analytics: The software provides real-time insights into procurement activities, enabling businesses to monitor spend, identify trends, and optimize procurement strategies accordingly.

Challenges in Adopting Good Procurement Practices

While the benefits of good procurement practices are clear, implementing them can present challenges. Some of the common challenges include:

Resistance to Change: Employees and suppliers may resist changes to established procurement processes. Overcoming this resistance requires effective change management strategies, including training and communication.

Complexity of Global Supply Chains: Managing procurement in a global context involves dealing with multiple suppliers, regulations, and risks. Navigating these complexities requires a robust procurement strategy and the right technology.

Budget Constraints: Implementing good procurement practices, particularly those involving technology, can require significant investment. Businesses need to balance the costs of these investments with the expected returns.

Data Management Issues: With the increasing reliance on digital tools, managing large volumes of procurement data can be challenging. Ensuring data accuracy and security is essential for the success of procurement initiatives.

Best Practices for Overcoming Procurement Challenges

To successfully implement good procurement practices, businesses should consider the following best practices:

Invest in Training and Development: Providing procurement teams with the necessary training and resources helps them adapt to new practices and technologies. Continuous learning should be encouraged to keep up with industry trends and best practices.

Foster a Culture of Collaboration: Encouraging collaboration between procurement teams, suppliers, and other stakeholders leads to better outcomes. Open communication channels and a shared commitment to achieving business goals are key to fostering this culture.

Leverage Technology Wisely: While technology is a powerful enabler, it’s important to choose the right tools that align with the company’s needs and capabilities. Businesses should also ensure that their teams are adequately trained to use these tools effectively.

Regularly Review and Update Procurement Processes: The business environment is constantly changing, and so should procurement practices. Regular reviews and updates ensure that the procurement function remains aligned with the company’s objectives and can adapt to new challenges.

Conclusion

Good procurement practices are essential for the long-term success of any business. They not only contribute to cost savings and operational efficiency but also enhance supplier relationships, mitigate risks, and promote transparency. By adopting these practices and leveraging the right technology, businesses can gain a competitive edge and achieve sustainable growth. While challenges may arise in implementing these practices, following best practices and maintaining a focus on continuous improvement can help businesses overcome them and realize the full benefits of good procurement practices.

[123-gtm]

Leading Sona Masoori Rice Suppliers & Dealers in UAE | Companies

Discover the best Sona Masoori rice suppliers and dealers in the UAE with FMCG UAE. Stay informed about the latest trends and explore a diverse selection of high-quality Sona Masoori rice options. Uncover leading FMCG companies, general trading firms, and wholesalers in Dubai offering premium Sona Masoori rice products. Join us to discover fresh choices and embark on a journey through the finest Sona Masoori rice suppliers in the region.

[meshtechindia]

Discover MeshTech India: Premier Wire Mesh Manufacturer and Supplier

MeshTech India leads the industry with the best Extruder Screens and wire mesh in India, providing top-notch quality that speaks for itself. Our extensive range includes mesh in all sizes and shapes, catering to diverse needs both domestically and internationally. Trust MeshTech India for unparalleled reliability and precision in wire mesh solutions. Explore more at www.meshtechindia.com.

[saitechincorporated]

Breaking Barriers: How Supplier Diversity is transforming the IT Reseller Landscape

At SAITECH INCORPORATED, we believe in the power of diversity to drive innovation, foster creativity, and promote inclusivity. As a certified Minority Business Enterprise (MBE), we are proud to be at the forefront of the supplier diversity movement, reshaping the IT reseller landscape one partnership at a time.

[anilmenon]

Best Project-Based ESG Risk Scoring Tool | Supplier Diversity ROI

Best Project-Based ESG Risk Scoring Tool powered by LOCOMeX for tracking business's Sustainability, ESG. To know more Visit Us: https://bit.ly/3P9J3Bq

[veerch]

Best Supply chain optimization software | LOCOMeX

Discover powerful Supplier Diversity Program Management Software designed to streamline operations and enhance efficiency. Try: https://locomexgroup.com/

[energynews247]

Leading Trends in Supplier Diversity: Your 2024 Roadmap to Success

Date/Time: March 7, 2024 (1-2PM ET / 10-11AM PT) Get ready to navigate the new nuances, challenges and opportunities that 2024 brings to your diverse supplier program. In this webinar we’ll review the comprehensive research just completed from top-performing supplier diversity programs and share specific company examples with actionable insights to enhance your supplier diversity program. Whether…

[nerdykeppie]

We will no longer be purchasing the feed corn for our heating pads from Tractor Supply Company.

We have purchased all of the corn that fills our heating pads from TSC since 2017, but given this... uh... statement... we will no longer be doing business with TSC in any way. The idea that "rural values" preclude the existence of our embracing of minorities and queer people is profoundly ridiculous.

Our company's rural roots are strong: Jake & Spider grew up in NE PA's coal country on a dirt road & in a house heated by a wood stove. We are the descendants of immigrant coal miners and farmers. Our great-great-grandfather put up a swing in the middle of the single room of their Northwest Territories home because it was too cold for our great-grandmother to go outside to play. Our grandfather was a breaker boy. Our cousins still raise corn and pigs in Iowa. And that's just Spider and Jake!

Painting "diversity" as alien to rural values is not only incorrect, it's insulting to everyone who lives in a rural area who isn't white, cishet and Christian - and there are an awful lot of us. This is, of course, the point. They've decided that it's fashionable to turn away from us, to make clear No Queers Allowed, and so it's only right that we return the favor.

Please bear with us as we shift suppliers. If you have an outstanding heating pad order with us, it may be slightly delayed.

[paragonprocurement]

Strategic Sourcing Solution –Unleash Value From External Cost And Supplier Network

Our strategic sourcing solution enables you to access the best of suppliers for the commodities you need. Our dedicated team of sourcing specialists can manage your sourcing completely, or augment your internal sourcing team, to increase bandwidth, improve efficiency and broaden coverage of the global supply base.

In our experience, transitioning towards value-based sourcing calls for organizations to focus on key transformation building-blocks:

A vision of what value-based sourcing means for the organization

An evolved sourcing operating model

Innovative strategies for commodities and relationships

Agile, digitalized processes to manage the sourcing life cycle and integrate supply chains

Capabilities to embed and sustain the change

Paragon Result’s strategic souring solution:

At the start of any engagement, we develop a strategic sourcing plan and stocking strategy that aligns with your corporate goals. That plan identifies opportunities to improve your MRO purchasing power in terms of materials and providers, while utilizing the expertise of our network of local, regional and international suppliers

We help you to establish medium-range evolutionary plans covering a wide portfolio of improvement levers, focusing on spend management, demand management, supply and supplier management, and value-chain management

We help you to identify the most valuable digitalization opportunities open to you, right through the entire sourcing lifecycle, unlocking augmented insight, process acceleration and efficiency

We help you to develop organizational capabilities and processes to generate recurring savings and enhance the performance impact of the supplier base

We work in tandem with you to engage key suppliers in collaborative processes in order to close the gap with target costs for new or existing products

We support you in leveraging advanced capabilities in order to optimize and manage purchase contracts throughout their entire lifecycle (from RFQ to negotiations, and through contract execution and close-out)

Our sourcing experts are uniquely equipped to help you address your sourcing and cost challenges. They will help you to understand your level of sourcing maturity, and seize opportunities—both within the organization and across your integrated value chain—from R&D right through to your end-customers. We can assure you the highest level of our quality support in functional improvement and end-to-end Value Chain optimization through our strategic sourcing solution.

Continue Reading...

[procurengine3]

CAPEX vs. OPEX: Strategic Decision-Making for SaaS Procurement

Navigating SaaS Solutions: CAPEX vs. OPEX in Decision-Making

In the ever-evolving landscape of procurement, businesses are increasingly relying on subscription-based SaaS solutions to streamline their processes. However, the decision to categorize these solutions as CAPEX (Capital Expenditure) or OPEX (Operational Expenditure) is often challenging. This distinction is crucial as it influences not only the financial strategy but also the overall management of procurement operations.

Understanding SaaS in Procurement

SaaS (Software as a Service) solutions have revolutionized procurement by offering flexible, scalable, and cost-effective procurement management software tools that enhance efficiency. Unlike traditional software, which often requires significant upfront investment and long-term commitment, SaaS solutions operate on a subscription basis. This model provides businesses with the agility to adapt quickly to changing market demands without the burden of heavy initial costs.

The CAPEX Perspective: Long-Term Investment in SaaS Solutions

When considering SaaS solutions as CAPEX, businesses treat the software as a long-term investment. This approach aligns with companies that have a stable financial base and are looking to capitalize on the long-term benefits of owning the software. Treating SaaS as CAPEX allows businesses to amortize the cost over time, providing a predictable expense in their financial statements.

Key Advantages of CAPEX:

Asset Ownership: By capitalizing SaaS solutions, businesses can consider them as assets on their balance sheets, which may increase the company's valuation.

Long-Term Budget Planning: CAPEX allows for better long-term budget planning as the costs are spread out over several years.

Tax Benefits: Some jurisdictions offer tax benefits for capitalized expenses, potentially reducing the overall cost of ownership.

However, the CAPEX approach may limit a company's flexibility, as the software is considered a long-term commitment. Upgrades and changes might require additional investments, leading to increased costs over time.

The OPEX Perspective: Flexibility and Agility in Procurement Management

On the other hand, treating SaaS solutions as OPEX aligns with companies seeking flexibility and agility in their procurement processes. OPEX allows businesses to classify SaaS subscriptions as operational expenses, which are recorded in the period they are incurred. This approach is particularly appealing to companies that prioritize cash flow management and prefer to avoid the long-term commitment associated with CAPEX.

Key Advantages of OPEX:

Cash Flow Management: OPEX allows for better cash flow management as costs are spread out over the subscription period, avoiding large upfront investments.

Scalability: Businesses can easily scale their SaaS subscriptions up or down based on current needs, providing a high degree of flexibility.

Tax Deductibility: OPEX expenses are typically fully tax-deductible in the year they are incurred, offering immediate financial benefits.

The OPEX model also aligns with the evolving nature of SaaS solutions, where regular updates and improvements are part of the subscription package. This ensures that businesses always have access to the latest features and functionalities without incurring additional costs.

The Role of Decision-Making Authority (DOA) in SaaS Procurement

Decision-Making Authority (DOA) plays a critical role in determining whether to classify SaaS solutions as CAPEX or OPEX. The DOA framework within an organization defines who has the authority to make these financial decisions and sets the parameters for budget approvals.

In many organizations, the procurement department works closely with finance and IT teams to evaluate the long-term impact of SaaS investments. The DOA framework ensures that these decisions align with the company's overall financial strategy and risk tolerance.

Key Considerations for DOA:

Risk Management: The DOA framework should include an assessment of the financial risks associated with both CAPEX and OPEX models.

Stakeholder Involvement: Involving key stakeholders in the decision-making process ensures that all perspectives are considered, leading to a more balanced and informed choice.

Alignment with Business Goals: The decision to classify SaaS solutions as CAPEX or OPEX should align with the company's broader business goals and financial strategy.

Balancing CAPEX and OPEX: A Strategic Approach to SaaS Procurement

While the CAPEX vs. OPEX debate is ongoing, many businesses find that a balanced approach works best. By combining elements of both models, companies can optimize their procurement strategies to suit their unique needs.

For example, a business might choose to capitalize certain core SaaS solutions as CAPEX, ensuring long-term stability and asset ownership. Simultaneously, it could treat other, more flexible SaaS tools as OPEX, allowing for agility and adaptability in a rapidly changing market.

Benefits of a Balanced Approach:

Flexibility with Stability: Combining CAPEX and OPEX allows businesses to maintain flexibility in their procurement strategies while ensuring long-term financial stability.

Cost Optimization: A balanced approach enables companies to optimize costs by choosing the most appropriate financial model for each SaaS solution.

Improved Decision-Making: By leveraging both CAPEX and OPEX, businesses can make more informed decisions that align with their financial goals and risk tolerance.

Conclusion: Making the Right Choice for Your Business

The decision to classify subscription-based SaaS solutions as CAPEX or OPEX is a critical one, with significant implications for a company's financial strategy and procurement management. By understanding the advantages and limitations of each model, businesses can make informed decisions that align with their long-term goals and operational needs.

Ultimately, the choice between CAPEX and OPEX should be guided by a thorough analysis of the company's financial objectives, risk tolerance, and the strategic importance of the SaaS solution in question. By adopting a balanced approach, businesses can leverage the strengths of both models to achieve optimal procurement outcomes.

[k12academics]

We Sell Bottled Drinking Water!

We all know the harmful effects of plastic in our environment and eco-system. For this reason, our company has a solution for your everyday life. Our aluminum bottles are refillable, recyclable and can decompose at a faster rate than plastic if thrown away. For this reason, our aluminum bottles are a phenomenal eco-friendly solution! It's environmentally friendly and sustainable. Not only that, but it comes at a price that is competitive to PET bottled beverages and it's all produced and MADE IN AMERICA. By choosing our beverages, you can reduce your carbon footprint and minimize plastic waste. Additionally, our beverages have natural ingredients!

When you choose us as your vendor for bulk bottled beverages, you will be supporting a minority female diverse supplier and American jobs since our products are ALL made in America. We are SAM registered and WOSB certified from the federal Small Business Assosciation and our certifications can be researched with the information below. Send us an email to request a quote on bulk orders for bottled drinking water!

UEI: DD13MCGJMTQ4 SUPPLIER GATEWAY: SGO9239582872072 DUNS: 118928570