Prime Advantage Blog

The Easiest Way to Expand Your Procurement Network

Posted by Dan Grant on Sep 28, 2016 2:30:00 PM

One of the biggest challenges purchasing professionals are met with every single day is locating enough resources to meet the demands of the job. It seems like procurement is being asked to do more and more each passing year, causing it to further stretch the resources it currently has at its disposal. Buyers are then forced to come up with creative and innovative methods to corral this predicament. Some of the savviest procurement professionals will tell you, the easiest way to get some much needed help is to join a group purchasing organization.

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Topics: Procurement

Manufacturing’s Temperature Forecast

Posted by Mike McDonald on Sep 22, 2016 8:50:00 AM

Each year, here at Prime Advantage, we survey our Members to see where manufacturing, and specifically procurement within manufacturing, is today and where it’s heading. It’s always encouraging to see when the temperature of this porridge is “hot” or at least, “just right.” Well the results of Prime Advantage’s 8th Annual Purchasing and Manufacturing Survey are in, with some truly fascinating discoveries. On the bright side, 97% of our Member companies are expecting revenue to either jump or sustain in the next 12 months, in comparison to 80% at this time last year.

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Topics: Manufacturing, Industry News

How to Outsource the Backend Tasks of Your Business

Posted by Guest Contributor on Sep 20, 2016 10:15:00 AM

Prime Advantage has invited industry experts to share insights on achieving manufacturing and business success. In this post, Jason Dasher of Commercial Truck Financing discusses how to contract out certain job functions for a competitive advantage. 

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Topics: Manufacturing, Industry News

How to Deal with Chronic Complainers

Posted by Guest Contributor on Sep 14, 2016 11:46:24 AM

Prime Advantage has invited industry experts to share insights on achieving manufacturing and business success. In this post, Karin Hurt, CEO of Let’s Grow Leaders and author of Winning Well, discusses how to navigate through negativity in the workplace. 

I often start my speeches on employee engagement sharing prototypes of various kinds of disengagement. The audience favorite is always Betty Boatrocker-- "Her life feels like a sad country song, every little thing is wrong."

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Topics: Talent and Leadership

Controlling Inbound Freight Costs

Posted by Guest Contributor on Sep 9, 2016 1:07:35 PM

Prime Advantage has invited industry experts to share insights on achieving manufacturing and business success. In this post, Neal Willis of ReTrans Freight, discusses the tools and strategies you can use to minimize freight prices.

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Topics: Manufacturing, Supplier and Member Best Practices

How Your Business Can Get Lucky

Posted by Alison Chebuhar on Sep 7, 2016 10:30:00 AM

As the saying goes, it’s better to be lucky than good. But ideally, you can be both: You can put in the hard work, master your craft as best you can, while setting yourself up for outcomes that break in your favor from time to time. You can minimize the amount of “chance” in your equations by governing the controllable within them. Your organization will never be perfectly insulated from potential disasters, but much like putting on your seatbelt, you can reduce the probability they will happen. Here are some tips on how to increase your odds of getting on Lady Luck’s good side:

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Topics: Supplier and Member Best Practices, Talent and Leadership

LTL General Rate Increases and Their Impact on Costs

Posted by Guest Contributor on Sep 1, 2016 9:00:00 AM

Prime Advantage has invited industry experts to share insights on achieving manufacturing and business success. In this post, Neal Willis of ReTrans Freight, discusses how to manage rising LTL prices.

It’s a widely accepted practice of LTL carriers to make periodic adjustments to their base rates through the form of a General Rate Increase (GRI). Historically speaking, GRIs (increases) usually occur once a year, however, there have been years when carriers imposed more than one GRI in the open market, and also years when carriers didn’t impose one at all. Carriers consider many elements when factoring what GRI percentage they will be imposing onto their customers, some of which include the carrier’s operating ratio, damage claim rates, the state of the overall economy and the demand for freight in general.

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Topics: Manufacturing

Gear Up for the Fourth Industrial Revolution

Posted by Mike McDonald on Aug 26, 2016 12:32:30 PM

It’s an exciting time in manufacturing because the next big revolution is upon us. Much like the steam engine, assembly line, and automation before it, the marriage of factories and technology is going to cause productivity and economic growth to skyrocket. And we need it. GDP and output progress have been in the gutter for the past several decades, and according to Industrial Systems thinker Olivier Scalabre’s TED Talk, The Next Manufacturing Revolution is Here, manufacturing revolutions have a way of injecting vast improvements in these areas.

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Topics: Manufacturing, Industry News

School is in Session for Your Business Too

Posted by Guest Contributor on Aug 23, 2016 1:14:29 PM

It’s the time of year for the kids to go back to the classroom. Maybe we should too.

Prime Advantage has invited industry experts to share insights on achieving manufacturing and business success. In this post, Andy McNulty of Communication Performance Management Associates, discusses how we should never stop applying the fundamental principles we learned in the classroom.

Shhhh…listen. Do you hear it? Do you hear the sobbing, the sniffling, the moans and the groans? That’s right kids, the bus is coming. And the teachers and bus drivers are not happy. OK, ideally the teachers and bus drivers ARE looking forward to another school year. Hopefully the only sobbing and sniffling is coming from the kids who, understandably, don’t want summer to end. They want to keep playing, going to the pool, and sleeping late. Who wouldn’t?

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Topics: Talent and Leadership

Lessons from the World’s Most Innovative Companies

Posted by Joe Ptak on Aug 19, 2016 9:28:00 AM

Most businesses are on a never-ending journey for innovation. Finding revolutionary products, advanced business practices, and better predictive analysis of where industries and markets are heading, shape much of our goals and strategies. Even if your business is far from Silicon Valley on the map or isn’t playing in a space conducive to rewriting the history books, there are still many overarching ideologies we can glean from the ones who are. These are philosophies that can be applied to businesses of any shape, color, or size. Here are some lessons to highlight from Fast Company’s list of The Most Innovative Companies of 2016 that you can incorporate at your organization to infuse more innovation:

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Topics: Industry News

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