Prime Advantage Blog

Dan Grant

Daniel Grant is the President of Prime Advantage, a Chicago-based Group Purchasing Organization for mid-market manufacturers.
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Recent Posts

The Emergence of the New Supply Chain Leader

Posted by Dan Grant on Dec 6, 2016 2:15:00 PM

At the Prime Advantage Fall 2016 Conference, professor Steven A. Melnyk of Michigan State University presented on the new type of leader required for the supply chain of the future. According to Melnyk, today’s supply chain is a result of investments made in the past. However, tomorrow’s supply chain will be a result of investments made today. And to make sound investments, we must be able to improve on our ability to forecast and project.

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Topics: Supply Chain, Industry News

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

4 Steps to Scaling Your Business

Posted by Dan Grant on Aug 16, 2016 1:12:05 PM

When it comes to business, we like to think that bigger is better. Goals of a bigger customer base, bigger revenues, and bigger profits, drive most of the strategic decisions any company makes. As long as an organization doesn’t bite off more than it can chew and can handle the increased load without sacrificing quality or service, then let it snow, let it snow, let it snow. So if capacity is not an issue, how do we go about expanding our company’s breadth while pumping up that bottom line?

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Topics: Talent and Leadership

6 Stages of Strategic Sourcing

Posted by Dan Grant on Aug 2, 2016 2:00:00 PM

Strategic sourcing can make or break your business and finding the right suppliers will require research, meeting with the vendors, and even a certain amount of trial and error. In order to foster the best strategic sources more quickly, there are some general steps that will outline the path to follow:

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Topics: Strategic Sourcing, Procurement

Is Your Supply Chain Risky Business?

Posted by Dan Grant on Jun 28, 2016 9:41:24 AM

Everyone's comfortable with a different amount of risk. Some of us really like to throw the dice while others of us keep those little red cubes tightly clutched in our palms. And depending on the situation, our risk aversion can fluctuate substantially. When the stakes are high, like wearing a seatbelt, we make sure to buckle up tight. When the stakes are low, like jumping over a puddle, we let loose and go airborne. Well, one area many procurement professionals could use some help "buckling up" is mitigating risk in the supply chain. And this needs to be addressed at the onset of the relationship with the supplier, otherwise it may be too late to tame once all the wheels are in motion.

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Topics: Supply Chain

How to Build Resilience in Your Supply Chain

Posted by Dan Grant on Jun 7, 2016 6:30:00 AM

Having a strong supply chain in today's rapidly changing and innovating marketplace is no longer enough to keep pace. A company's supply chain also needs to possess the fluidity to respond seemingly instantaneously to the unexpected that tomorrow brings. Gone are the days where merely having well-managed logistics and an advanced ERP system could set you apart from the competition. Procurement and supply chain managers now must be able to roll with disruptions as if they already had their calendars marked that the failures were coming.

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Topics: Supply Chain, Procurement

Overcoming the Top Concerns of Supply Chain Managers

Posted by Dan Grant on Apr 5, 2016 3:01:01 PM

Many of us do some of our best thinking when our heads hit the pillow to sleep each night. We're finally sheltered away from the bright computer screens, noises of the city or children, and the seemingly endless bombardment of information to consume. Unfortunately, for some of us, these moments just before drifting off to Never Neverland are also filled with apprehension about how to overcome challenges we find ourselves facing. And one group who knows this all too well right now is supply chain managers.

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Topics: Buying Groups and Group Purchasing Organizations, Supply Chain

Five Inventory Management Tips to Cut Costs

Posted by Dan Grant on Mar 3, 2016 6:00:00 AM

One item that often gets misrepresented in budgets is the true carrying cost of inventory. Inventory isn't only about the physical space that is being taken up or the shelving that's holding your materials. It also encompasses the manpower and equipment required to stock and track your inventory, as well as the loss or damage that happens from parts sitting around. This begs the important question of, "what else could you do with that space, time, and money???"

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Topics: Supply Chain

Take Your Supply Chain to the Next Level

Posted by Dan Grant on Feb 16, 2016 8:41:00 AM

Time is the thing people wish they had more of the most. We can't create more time in the day, but we should always be looking for ways to better use it. Analyzing data on how manufacturers can improve their time allocations has been the focus for many. One area that often gets left out of the time-saving equation is procurement.

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Topics: Supply Chain, Analytics and Technology

A Broader Approach to Value-Engineering

Posted by Dan Grant on Feb 2, 2016 1:06:34 PM

It seems that the soaring optimism manufacturing has enjoyed the past several years has started to level off. Some manufacturers are bracing themselves for the call from their customer saying they need a lower price. For others, it may just be time to review a product or reposition it in the market. It’s never an easy task to cut cost out of your finished goods. Redesigning a product that is meeting the needs of the market is not usually the right action to take. Addressing the existing design may involve a sometimes painstaking process of finding potential substitutes for components that are working and performing well. The solution here is not to have a value-engineering project, but to instead kick off a value-engineering event.

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Topics: Manufacturing, Talent and Leadership

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