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As global front-runners - we, American businesses - bear a profound responsibility - no, a duty - to sever ties with nations that endorse forced labor practices, because let's face it....countries, entities, and persons engaging in forced labor practices are also intimately linked to the abhorrent crimes of human trafficking and child exploitation. Our economic prowess should never be wielded as a tool to bolster regimes that perpetuate such gross violations of human rights. Instead, our influence should be channeled towards promoting safe and equitable working conditions worldwide, underscoring our commitment to universal human dignity and freedom.

In the fast-paced and competitive business landscape of today, every relationship indeed counts. Hence, shifting from a traditional transactional supplier model to a more strategic business partner model can yield several significant advantages. This model allows organizations to realize cost savings by leveraging economies of scale, improving overall quality through shared best practices, diversifying your supplier base and reducing risk by ensuring supply chain continuity, and enhancing innovation by fostering a collaborative environment. Businesses, therefore, should place substantial emphasis on forming and nurturing these strategic partnerships ~ transforming mere suppliers into valued business partners.

Last year hit the dental industry hard — right in the bottom line, in fact. Sadly, the trends of increasing labor costs, staffing shortages, and high inflation are still making it difficult for practices to gain traction and keep their bottom lines healthy. Fortunately, one great way to improve your chances of achieving optimal profitability this year comes from applying a simple procurement technique to boost your cash flow — indirect spend management.

When companies experience rapid growth through acquisition, it can be challenging for Procurement teams to keep up. Two such industries that have remained resilient in their M&A strategies in the aftermath the pandemic are healthcare and dental services. There are various types of healthcare organizations (HCO’s), from not-for-profit firms, government healthcare organizations (like the VA), and for-profit healthcare entities - these can all include hospitals, home-based healthcare entities, urgent care facilities and nursing homes, etc. Dental Services Organizations (DSO’s) on the other hand, are companies that acquire dental practices and take over their operations, marketing, and administration of the clinic offices (think Sonrava Heath and Heartland Dental). Typically, the for-profit HCO’s and DSO’s grow their businesses through mergers and acquisitions.

Healthcare providers, including dentists, have seen a lot of changes in both patient care and business practices develop over the past few years, as post-pandemic disruptions continue to shine a light on changing societal values and norms. In response to these trends, many providers are showing an increased focus on environmental, social, and governance #ESG policies in an effort to help strengthen their practices and provide a higher, more conscientious level of patient care.

Ethics have always been important to the #dental industry. In fact, research shows that 69% of people choose dental practices that are members of the American Dental Association (ADA) — an organization that promotes a strong ethical code. And, with a growing number of consumers choosing companies that put emphasis on #supplierdiversity strategies, #dentists are finding new ways to combine ethics with ways to improve care and make the world a better place.

Are printer companies like HP trying to protect your device, or are they just extorting more money from you, or getting their consumers to buy-in to their Wolf Pro Security through coercion?

Remanufactured printer cartridges are an excellent way for companies to become more sustainable and meet their Scope 3 #ESG goals. By using remanufactured printer cartridges, companies can reduce their environmental impact while still getting the same quality of print output — or better. Furthermore, these remanufactured cartridges also cost significantly less than new ones, which makes them an attractive option for businesses looking to save money.

Most businesses are aware of the need for more #supplierdiversity and for strong environmental, social, and governance #ESG strategies to be put in place for the success of their business — and the global economy. But what about the deep benefits a supplier diversity program can bring to your business, the micro advantages that help companies realize true growth and profitability?

Supplier diversity is a business strategy that encourages companies to work with suppliers from different backgrounds and communities. This includes minority-owned businesses, women-owned businesses, veteran-owned businesses, small businesses, and other disadvantaged groups. The goal of supplier diversity is to create an equal playing field for all suppliers by providing access to opportunities that would otherwise be unavailable. By engaging in supplier diversity efforts, companies can benefit from the unique perspectives and experiences of suppliers from diverse backgrounds who can bring fresh ideas and solutions to the table. Additionally, it helps create a more inclusive workplace environment where employees feel valued and respected.

#Scope3Emissions are a type of emissions that fall under the category of Environmental, Social and Governance #ESG initiatives. These emissions are associated with activities that occur outside an organization’s direct control, but still have an impact on the environment. Scope 3 emissions are divided into three broad areas: indirect energy use, purchased goods and services, and waste generated in operations.

Environmental, social, and governance (ESG) is an important concept that has become increasingly popular in the business world. #ESG refers to the three core factors that businesses should consider when making decisions: #environmentalsustainability, #socialresponsibility, and #corporategovernance. By incorporating these elements into their operations, businesses can ensure they are acting responsibly and are doing their part to create a better society. ESG is also important for investors as it helps them assess the long-term performance of companies and make more informed decisions about where to invest their money.

Today we are going to discuss and share with you three ways to ensure your indirect procurement team has a successful 2023.

There has been an increasing focus on both corporate social responsibility and sustainability as factors in improving brand trust and loyalty in the marketplace. Mostly, that is because more consumers than ever are taking a closer look at the companies with which they do business. In fact, studies show that 70% of consumers are interested in how businesses are working to tackle both social and environmental issues and almost half of them consider these efforts when making purchases from individual businesses.

Supplier diversification does more than just protect your supply chain and make your organization more flexible and agile — it also contributes by adding value to the workplace. This added value results from the overall improvement of the workplace, an improvement that directly supports higher productivity, better performance, and even social advancement. But greatest among the improvements realized through a supplier diversity program is the reduction of costs in your indirect procurement spend. This wide spectrum of advantages is perhaps why American companies have earmarked over $50 billion in funds to both women-owned and minority businesses in the next decade.

With the current focus on #inclusion and #equity spurred by increasing social unrest and economic disillusionment, there has never been a better time to create a strong #supplierdiversityprogram for your organization.

We at Quality Imaging Solutions would like to thank all of our amazing customers and business partners for helping QIS make 2022 a truly memorable and EPIC year!

While corporate direct spend policies are often under a microscope held by C-Suite managers, indirect spending seems to suffer from neglect. This disparate way of managing these two spending categories results in an unfortunate loss of cost savings and an explosion of expenses that can make it difficult for companies to thrive. Especially in today’s teetering economy, it is increasingly important to get indirect expenditures under control.