Prime Advantage Blog

Taking Time and Costs Out of Qualifying Suppliers

Posted by Mike McDonald on Aug 10, 2017 10:53:23 AM

Searching for new vendors or suppliers to replace existing ones can be an arduous task. One that often creates more questions than answers along the way for procurement. Will the new supplier be able to meet the needs of our business? Will their goals be aligned with ours? Will they be able to help us grow and innovate? How will they treat us two, three years down the road when the initial courtship is a distant memory? How will they perform compared to our existing supplier or in contrast to other options in the marketplace? And the points to consider go on, and on, and on…

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Topics: Supplier and Member Best Practices

4 Best Practices to Generate Company Buy-In

Posted by Guest Contributor on Jun 13, 2017 9:15:00 AM

Prime Advantage has invited industry experts to share insights on achieving manufacturing and businesssuccess. In this post, Steven Nghe of Kloeckner Metals discusses the steps to getting your company on board with your goals and ideas.

In business, there’s long been the concept of A, B, and C players. The A players are the powerhouse members of the team. They’re attracted to challenges, they complete projects above expectation, and they innovate. Meanwhile, B players are accurate, reliable, and consistent; and C players coast. The term was popularized by Jack Welch, CEO of Generic Electric, who had a policy of forced ranking employees and “letting go” of the bottom 10% each business unit.

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Topics: Supplier and Member Best Practices, Talent and Leadership

Overcoming the Top Risks in Your Supply Chain

Posted by Dan Grant on May 24, 2017 1:00:00 PM

Prime Advantage and riskmethods recently collaborated on a webinar for Prime Advantage Members highlighting some of the biggest threats in supply chain management today. The session was hosted by Bill DeMartino, General Manager of North America for riskmethods. A variety of topics were covered, including supply chain management myths, challenges, and solutions.

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Topics: Supply Chain, Supplier and Member Best Practices

Achieving Better Supplier Relationships with Better Data

Posted by Guest Contributor on Jan 26, 2017 11:00:00 AM

Prime Advantage has invited industry experts to share insights on achieving manufacturing and business success. In this post, Stephanie Dula, Communications Manager at PayStream Advisors discusses strategies for better corralling procurement data.  

Today’s procurement professionals are seeking new ways to gain visibility into the massive transaction volume that accompanies digitized business processes. In an ideal world, this data is visible, meaningful, and actionable. But we don’t exactly operate in an ideal world. Much of the data challenges that operations wrestle with are related to their supplier networks. In fact, poor data management ranks as the number one obstacle to smooth supplier relations according to PayStream Advisors.

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Topics: Industry News, Supplier and Member Best Practices

Medical Expenses Could Be Hindering Your Employees’ Performance

Posted by Joe Ptak on Oct 20, 2016 2:00:00 PM

What's the number one reason for bankruptcy in the United States? Is it our Amazon Prime addiction? No. Is it our unused gym memberships? Nope. Is it grocery shopping when we’re hungry? No, it's not that either. The actual answer is, medical expenses. Now, fortunately for the majority of us, the financial horror never reaches the point of Chapter 13. However, ever-rising healthcare costs is an issue that creates some degree of stress for all of us. And that stress, could be costing your company enough money to name a wing of a hospital.

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Topics: Supplier and Member Best Practices, 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

What’s Your Trade Show “Booth I.Q?”

Posted by Guest Contributor on Jun 2, 2016 6:30:00 AM

Prime Advantage has invited industry experts to share their insights on the present and future of manufacturing and business success. In this post, Andy McNulty of Communication Performance Management Associates, discusses how to develop a strong rapport in trade show booth meetings.

What that means is what question could be asked of a booth attendee that would indicate an advanced level of trust and affiliation if answered. And if an advanced level of trust and affiliation is demonstrated between booth person and booth attendee, there would be promising potential for a post-show meeting and a developing, mutually-beneficial, professional relationship.

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Topics: Supplier and Member Best Practices, Talent and Leadership

The Three Principles of Superior Customer Service

Posted by Joe Ptak on Apr 26, 2016 3:02:33 PM

"From the moment your customer arrives to the moment they leave, that's the product," so says Dennis Snow of Snow & Associates, Inc., in his presentation entitled, "Delivering on the Promise of Your Brand: Lessons from the Mouse," at the recent Prime Advantage Conference.

"And as they leave, your single most important objective is to get them thinking about coming back."

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Topics: Supplier and Member Best Practices

Do Your Customers Value What You're Selling?

Posted by Joe Ptak on Jan 26, 2016 6:30:00 AM

What is something worth? Well, in short, it's worth whatever someone is willing to pay for it. This holds true for your salary, the antique vase you posted on eBay, or your old beat up Volvo. So as a business, the name of the game is not just creating value, but even more importantly, it's raising the perceived value of what you have to offer. If a tree falls in the forest, does it make a sound? Similarly, if you're creating worthwhile value but it's not reaching anyone's ears, then you need to better lead your customers to the forest to pay witness.

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Topics: Supplier and Member Best Practices

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