Preparation: Your Key to Procurement Success
As we approach the final quarter of the year, now is a critical juncture for businesses to strategize and plan their #procurement activities for the upcoming 2024 year. Successful procurement is fundamental to an organization's efficiency, cost-effectiveness, and competitiveness. In this comprehensive guide, we will delve into essential steps and expert insights to help procurement teams strategically prepare for a successful 2024.
Procurement Best Practices for Printer Supply Contracts: Time to Gear Up for 2024
As the calendar turns to November, businesses enter the final quarter of the year, often marking the time for potential contract renewals and strategic planning for the upcoming year. For many organizations, printer hardware and toner supply contracts are integral components of their daily operations. These contracts can significantly impact the organization's productivity, operational costs, and overall efficiency.
Optimizing Sourcing: Insights from McKinsey's SME Studies
In today's competitive business landscape, efficient sourcing and procurement have become critical functions for most companies seeking to optimize their supply chain. However, sourcing is not without its challenges. The cost of raw materials, delivery delays, poor supplier performance, and unpredictable demand can all put a strain on sourcing and procurement activities.
UFLPA Enforcement: Evaluating the Impact of ESG & Socially Responsible Investing
In recent years, environmental, social, and governance (ESG) factors have become increasingly important considerations for investors worldwide. As investors seek to align their portfolios with ethical and sustainable principles, the Uyghur Forced Labor Prevention Act (UFLPA) has emerged as a critical catalyst shaping investor sentiment towards companies implicated in forced labor practices.
The Uyghur Forced Labor Prevention Act (UFLPA) Enforcement List: Implications for Global Supply Chains and Social Compliance
In recent times, the issue of forced labor in supply chains has gained significant attention on the global stage. One noteworthy development that highlights the growing concern surrounding this issue is the placement of Chinese company Ninestar on the Uyghur Forced Labor Prevention Act (UFLPA) Enforcement list. This act, which was signed into law to address forced labor concerns in Xinjiang, China, has far-reaching implications for global supply chains and social compliance.
The Risks of Greenwashing and How It Negatively Affects our Supply Chain
Greenwashing, a term coined in the 1980s, refers to the practice of misleading consumers into believing that a company or product is environmentally friendly or sustainable when it may not be. It involves using marketing and advertising techniques to exaggerate or falsely claim the environmental benefits of a product or company.
Procurement Partnering with Diverse Small Businesses — for the Win!
In our last blog in July, we discussed the importance of strategic over transactional partnerships and the many benefits they can bring to your organization — and your bottom line. This time, we’ll show you how creating a procurement partnering program that features a team of diverse small businesses can really dial in the advantages.
What do ink and toner cartridges have to do with Chinese forced human labor and child sex trafficking?
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.
The Benefits of Strategic Supplier Partnerships
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.
How Focusing on Indirect Spend Reduction Can Help Boost Revenue for Your Dental Practice
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.
How Procurement can Stay Ahead during Exponential Growth Post M&A
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.
Grow Your ESG Strategy — Grow Your Dental Practice
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.
How Supplier Diversity Can Benefit Dental Practices and DSO's
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.
Could HP’s use of Firmware Updates and Their New HP Wolf Security be Considered Extortion or Coercion?
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?
QUALITY IMAGING SOLUTIONS ANNOUNCES IT HAS BEEN AWARDED WBE CERTIFICATION THROUGH THE WBENC!
Quality Imaging Solutions is proud to announce that we are certified as a Women's Business Enterprise (WBE) through the Women's Business Enterprise National Council (WBENC), the nation's leading third-party certifier of businesses owned and operated by women.
How Procurement can help Heal the Earth through Sustainable Strategic Sourcing
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.
How Measuring and Reducing Scope 3 Emissions Can Benefit Your Business
The news appears to be dire for the year 2030, when greenhouse gas emissions will be 10% higher than they were in 2010, according to the United Nations. What’s more concerning, however, is that greenhouse gas emissions, also known as indirect emissions, account for at least 70% of every business’s carbon footprint. However, most businesses focus on controlling or eliminating their direct emissions instead.
The MICRO Benefits of
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?
Quality Imaging Solutions Announces It Has Achieved GreenCircle Certification!
Bellevue, WA — Today, Quality Imaging Solutions (QIS) announced that its remanufactured ink and laser printer cartridges received GreenCircle certifications for both Recycled Content and Closed Loop Product.
The Macro Benefits of
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.