The Thomas Blog

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Procurement

What's The Problem With Volume Commitments?

You just signed a contract that you feel will produce significant savings for your organization through category-level discounts.

Across the table is a supplier who is excited about guaranteeing increased spend. It sounds like a win-win. However, there’s a catch – the contract includes a volume commitment – and it could potentially damage your relationship between you and your supplier irrevocably.

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Procurement

How To Find Veteran-Owned Suppliers on Thomasnet.com

Whether you're in need of new blood in your supply chain or trying to build up your list of diversity suppliers, Thomas can help save you time and hassle in sourcing exactly what you need. Thomasnet.com offers detailed information on North American companies in over 70,000 categories of products and services, not to mention our CAD file library, whitepapers, and guides. In this article we're here to show you how to make the most of Thomasnet.com's features by covering the basics of finding and sourcing from the 6,300+ veteran-owned companies on our platform.

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Procurement

7 Ways Thomas Can Help You Supercharge Industrial Sourcing

Here at Thomas, we've been powering North America’s largest and most active network of B2B buyers and industrial/commercial suppliers for over 120 years. We understand how hard it is to find the best and most reliable suppliers.

That's why we developed the Thomas Network to help you search for qualified manufacturers, distributors, and service companies - and it's completely free to use. There are some parts of our site that require registration to access, such as viewing suppliers’ certifications and downloading white papers, but registration is simple and free. We know you're busy, so let's us walk you through super quick our top seven features you can try today:

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Procurement

Getting To Know The Future Of Supply Chain

The fact is that the procurement and supply chain profession is in the midst of a revolution, getting more global, analytical, and tech-savvy than ever before. It’s also getting younger — 40% of the buyers on the Thomas Network at Thomasnet.com are between the ages of 18 and 34.

This emerging generation of professionals aren’t just up-and-comers — they’ve arrived. Many are in leadership positions, heading up initiatives and driving discussions on the other side of your negotiating table. Knowing what makes them tick can help you forge better relationships with these important players in the supply chain.

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Procurement

Managing Total Cost Of Ownership In The Electrical Supplies Category

Although each category of purchasing that falls under Maintenance, Repair, and Operations (MRO) poses its own unique challenges, electrical supplies stands out as one that appears to be tactical. However, it does grant the opportunity for significant cost savings and value enhancement when viewed from a strategic perspective.

The “Electrical Supplies” umbrella covers a broad area of products, and depending on the needs of a particular organization, the level of complexity may vary particularly with wires and cables, automation supplies, lighting, and electrical distribution equipment. From a category perspective, there are opportunities to reduce costs when determining the preferred supplier base.

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Procurement

Forklift Sourcing 101: Know Your Options, Save Money

Though they serve as critical elements in many material handling operations, forklifts can come with many potential hidden costs, such as maintenance and operator salary — in total, costs can reach as high as $250,000 annually per machine!

Despite these expenditures, more and more companies are making use of forklifts; a recent Peerless Research Group survey of material handling managers found that 69% of respondents planned to acquire a new forklift in the near future, with a per-respondent average of seven planned purchases, up from six the year prior.

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