The Thomas Blog


5 Procurement Strategies For Small And Mid-Sized Businesses

Small business owners wear many hats, and a multitude of demands (staffing, financing, inventory management, marketing, and customer service) quickly consume their time, focus, and daily operations. As a result, procurement tends to be an afterthought — when it should be approached strategically.

Small businesses spend between 45 and 65 percent of sales revenue on procurement of inputs.  Therefore, procurement should be considered a viable opportunity to reduce costs and improve efficiency. 

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How Procurement Managers Can Break Out of the “No Quote” Blues

Not for us.” “Volume is too low.” “We can’t do that size.

You’ve heard every excuse possible. No matter how hard you try, sometimes it feels like you will never find a custom manufacturing supplier that will even give you a quote, never mind actually produce the parts you need. In an economy that has folks pushing to maximize every opportunity, it seems very counter intuitive that we would see this many possible jobs get turned down, doesn’t it?

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Stand Out on the Shortlist: The B2B Buying Cycle, Part 4

Put yourself in the buyer’s shoes. What’s most important to them when sourcing? Early on, speed and efficiency are key — conducting research on their terms, without worrying about an email or a call back. That doesn’t change once they reach the shortlist stage — they’re still not ready to spend time on queries. In fact, you likely won’t even know you’re on the shortlist until the first time they contact you.

How does the shortlist work, and how can you improve your chances of getting there — and getting selected?

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