Prime Advantage Blog

U.S. Healthcare: Where Do We Go from Here?

Posted by Mike McDonald on Mar 29, 2017 2:45:00 PM

“You have to address behavior or you cannot reduce costs.” That was the overarching sentiment at the inaugural Prime Advantage Healthcare Summit, held in Washington, D.C. The Summit brought together healthcare legislation architects and experts, members of previous presidential administrations and transition teams, as well as business leaders in manufacturing, all for an inside look into healthcare policy and solutions to subjugate rising costs.

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Topics: Buying Groups and Group Purchasing Organizations, Healthcare

How a Buying Group Can Benefit Your Company

Posted by Joe Ptak on Mar 8, 2017 2:00:00 PM

Any well-run business is constantly looking for ways to improve. But the better you are at staying on top of this endeavor, the more it can sometimes seem like you’ve exhausted most of the good ideas. You can reach a point where you’ve done your due diligence and feel pretty confident that you’re making the best decisions on the options realistically available to your company. You can only get so lean, squeeze so much out of your resources, and fine-tune your processes so tightly.

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Topics: Buying Groups and Group Purchasing Organizations

Achieve More with a Group Purchasing Organization

Posted by Joe Ptak on Feb 22, 2017 9:50:00 AM

Group Purchasing Organizations (GPOs) are a great way for manufacturers and businesses to increase resources, as well as get the most out of the resources they already have. Simply stated, GPOs aggregate and leverage the purchasing power of companies to drive down costs. They expand professional networks to elevate opportunities and reduce risks in the supply chain. And they provide market intelligence, vetted connections, engineering solutions, and access to best practices to help businesses make better decisions.

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Topics: Buying Groups and Group Purchasing Organizations

Bizcast HQ’s Interview with Prime Advantage Chairman and CEO Louise O’Sullivan

Posted by Alison Chebuhar on Dec 15, 2016 11:15:40 AM

Bizcast HQ, the video showcase hub that features companies to watch, recently sat down for an interview with Louise O’Sullivan, Chairman and CEO of Prime Advantage. A variety of topics were discussed, including, how group purchasing organizations can help with strategic sourcing, alleviating the rising costs of healthcare, as well as one very important piece of business advice.

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Topics: Buying Groups and Group Purchasing Organizations

How Group Purchasing Organizations (GPOs) Save Time and Money

Posted by Mike McDonald on Aug 11, 2016 8:30:00 AM

Manufacturers join a Group Purchasing Organization (GPO) to help solve sourcing and procurement concerns through advice and networking. GPOs achieve this by combining the purchasing power of businesses to get discounts from its vendors. The primary goal for Members is saving on cost, although there are many other advantages of joining a big network. Suppliers benefit from the increased market share and by building better relationships with customer organizations.

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Topics: Buying Groups and Group Purchasing Organizations

5 Steps to Strategic Supplier Relationships

Posted by Mike McDonald on Jul 20, 2016 9:08:00 AM

Refining strategy is a never-ending process. Once you get a project, a relationship, a product line to lift-off, there will always be room for improvement and opportunity to tinker with its underlying strategy. When it comes to sourcing, sure we may be getting the job done, but are there areas that can be enhanced or further developed? We don’t just want suppliers who meet requirements or who are merely “good enough.” We strive for true partnerships, mutual benefit and shared skin in the game. We want vendors who can help take us to performance and end products that smash our goals and expectations. So, how do we get there?

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Topics: Buying Groups and Group Purchasing Organizations, Strategic Sourcing, Procurement

How Your Business Can Get More Cash Back

Posted by Joe Ptak on Apr 18, 2016 4:19:44 PM

We all like receiving a little money back in our wallets. Well, let’s be honest, we all like receiving A LOT of money back in our wallets. We make purchases on our credit card with the best rewards, we buy electronics that have the most attractive rebates and it’s always a pleasure to get that security deposit back at the end of a lease. Many of us are diligent about taking advantage of opportunities to receive money back in various corners of our personal lives, but some don’t realize that the rebate market is alive and kicking for businesses as well.

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Topics: Buying Groups and Group Purchasing Organizations

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

How to Get Better Deals with Your Suppliers

Posted by Joe Ptak on Mar 31, 2016 1:51:43 PM

Everyone wants more for less. We want more output for less work, more action for less discussion, and more products for less money. When it comes to the latter, we're often hamstrung on the optimal price we can attain by the amount of volume we need to purchase. But what if I told you there was a way to get better deals without changing any of your buying habits? Sounds like a fantasy, but it is in fact the reality for members of group purchasing organizations (GPOs).

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Topics: Buying Groups and Group Purchasing Organizations, Supply Chain

3 Ways GPOs Benefit Confectionary Manufacturers

Posted by Mike McDonald on Mar 29, 2016 10:52:21 AM

While sitting at lunch at an ISM (Institute for Supply Management) conference, there was a common theme in the conversations among the purchasing professionals at my table.  It didn’t seem to matter what industry they represented, nor how large or small their organization, the one thing each person cited wanting more of was: resources

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Topics: Buying Groups and Group Purchasing Organizations, Manufacturing

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