When most buyers plan on identifying a new supplier, they are usually tempted to focus on the best price. However, concentrating only on low costs can hurt you in the long term. That's because shaving a few cents off the price of a product is no help if the quality is below standard, and the component or material does not arrive when you need it.
Instead of solely focusing on cost, focus on quality by incorporating these 13 tips into your sourcing strategy:
Implementing a supplier diversity program has evolved into a must-have in many U.S. companies. More stakeholders and policy makers are increasingly seeking out minority-owned, disadvantaged and small businesses. Companies that have long-standing relationships with reliable suppliers are seeing the benefits of diversity programs — and it’s making a significant impact in supply chain.Read More »
Thomas has been dedicated to helping industrial buyers and suppliers to connect with each other for over 120 years. As technologies have evolved and best practices in marketing and sales have changed, we’ve grown our toolsets to help make sure that industrial distributors and manufacturers have access to solutions that drive new business. To help support manufacturers who are searching for qualified buyers in targeted industries, Thomas has created Registered and Verified Thomasnet.com Programs.Read More »
Winter is here (seriously, spring, where are you?), and the first quarter of 2019 is officially over.
As an industrial company, you are always looking for ways to connect with B2B buyers. But what are those buyers looking for? With less than one week before the final season of Game Of Thrones premieres, we took a look at sourcing activity of some of the most useful elements of Westeros and beyond the wall on the Thomas Network at the end of Q1 to help you answer that question (and possibly win the Game of Thrones).Read More »
There is no question that technology has improved almost every aspect of the business process.
In theory, this is particularly true within the procurement and supply chain sphere: online e-sourcing tools make conducting sourcing events more effective and less costly than ever; online ordering portals and spend management software cut down on the time necessary to complete the entire procurement cycle.Read More »
No matter what type of business you run or what industry you are in, chances are that you will need to source packaging materials at some point.
Packaging requirements vary widely, and so do the solutions in the marketplace. For example, simple shipping needs can be addressed with off-the-shelf corrugated boxes, while custom-designed, die-cut folding packaging material may be necessary to withstand volatile shipping environments.
Whatever your packaging needs are, it helps to understand your options. Let’s take a look at three areas of sourcing flexibility to find best performance, price, and supplier.Read More »