Prime Advantage Blog

Only Focusing on Price Will Make You Broke

Posted by Joe Ptak on Jul 26, 2016 3:58:24 PM

I used to have a roommate who thought he was a really savvy shopper. He'd come home with a 50-count bag of frozen chicken breasts because "it was such a steal." But I always thought the purchase was quite short-sided because he only focused on the volume he was getting for his buck, completely ignoring total cost of ownership. Time and time again I'd watch him throw out much of the uneaten chicken, because um, who in their right mind has the stomach for 50 frozen chicken breasts? How's your price per unit now buddy? Not to mention it wasn't fresh meat so he was consuming an inferior product. And he was ignoring the amount of energy being gobbled up by that behemoth bag in the freezer, as well as how that space could have been used for something else.

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Topics: Supply Chain, Strategic Sourcing, Procurement

What You Can Learn From the World's Best Supply Chains

Posted by Alison Chebuhar on Jul 14, 2016 2:22:00 PM
If you want to be the best, then you have to emulate the best. And when it comes to role models for managing your supply chain, where better to turn than to the companies that are running circles around the competition. Each year, the analyst firm Gartner unveils its list of Top 25 Supply Chains in the World, and the latest edition of pioneering ideas and tactics is nothing short of spectacular. Maybe your company doesn't have the resources to build the exact same model as some of these behemoths, but it might be able to do something similar, or use these innovations to spark another idea, or even improve a process for smaller incremental gains that can really add up.

Here are some of the highlights from IndustryWeek:

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Topics: Supply Chain

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

Transformation By Technology: The Future of Supply Chain, Logistics & Manufacturing

Posted by Guest Contributor on May 17, 2016 6:00:00 AM

Prime Advantage has invited industry experts to share their insights on the present and future of manufacturing success. In this post, Kevin Hill of Quality Scales Unlimited, discusses the technologies that will be shaping manufacturing processes for years to come.


Technology is one of the main factors responsible for bringing in a great number of changes in the manufacturing world today. The next two years will mark numerous changes with digital transformation right around the corner for manufacturers. Moreover, business processes will mainly be technology-driven.

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Topics: Manufacturing, Supply Chain

Precisely Wrong All the Time – The Real Story Behind the Bullwhip Effect

Posted by Guest Contributor on Apr 21, 2016 9:06:37 AM

Prime Advantage has invited industry experts to share their insights on the present and future of manufacturing success. In this post, Chad Smith of Demand Driven Institute discusses the evolution and future of material requirements planning.

Most folks that deal with material requirements planning (MRP) systems on a daily basis know that something is and has been VERY wrong for many years. But do we really understand what the real issue is and just how devastating the problem becomes for supply chain management in general?

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Topics: Manufacturing, Supply Chain

The Importance of Understanding Your Supplier Network

Posted by Guest Contributor on Apr 7, 2016 3:22:12 PM

Prime Advantage has invited industry experts to share their insights on the present and future of manufacturing success. In this post, Shruti Agrawal of Excella Worldwide examines principles for strengthening supplier relationships.

In today’s complex and ever-changing business world, companies must keep up their A-game and rise above their competitors. A powerful way to do this is for a company to understand every nook and cranny of their supplier networks.

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Topics: Supply Chain

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

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

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