February 1, 2012 • 12:14pm in eBridge, White Papers
There is a great article out on Spendmatter.com about the impact of the falling Euro on sourcing, procurement and supply chain strategies. Procurement professionals have to develop strategies to circumvent the damage the failing Euro has done to the economy. Contracts have to be rewritten, new sourcing strategies developed and currency hedging will be vital for a successful 2012 business year.
To learn more about the falling Euro, read the full series from Spend Matters here: http://www.spendmatters.com/index.cfm/2012/1/4/20-Ways-the-Falling-Euro-May-Impact-Sourcing-Procurement-and-Supply-Chain-Strategies-Part-1
To learn more about eBridge please contact us at: 1-877-245-8880, or visit our website http://www.ebridgeglobal.com
January 18, 2012 • 1:58pm in eBridge, White Papers
The European financial meltdown has made headlines worldwide, but it is just a small part of the global economic crisis. The devaluation of the Euro has many global businesses wondering if global sourcing is such a good idea. Procurement organizations have to consider the outcome of the volatile currency markets, when considering their supply chain risks. Currency hedging is a difficult game to play in a stable market, let alone in such a risky economic environment. In light of this, global supply contracts are being reevaluated, for more local options. Businesses are buying and selling locally, to avoid the risk of currency inflation loss.
eBridge prides itself on being a fully managed reverse auction service provider. We provide strategic sourcing based on the criteria provided by the buyer. We source for local, national, or global suppliers, based on our buyers needs. We also average 36 suppliers to a buyer’s bid.
To learn more about eBridge please contact us at: 1-877-245-8880, or visit our website http://www.ebridgeglobal.com.
To learn more about the eurozone crisis, read the full article from Spend Matters here: http://www.spendmatters.com/index.cfm/2012/1/10/Adding-the-Eurozone-Crisis-to-the-Reasons-Why-Local-Sourcing-Makes-Economic-Sense
January 17, 2012 • 2:28pm in eBridge, White Papers
The failing economy has almost everyone on edge, waiting to see if the next turn will be for better or worse. The job market is increasing marginally, but not fast enough. The downgrading of the U.S. and several European countries’ credit ratings was a blow to the global economy. The stagnant economic growth looks like a bleak outlook on a prosperous future.
However, there are some who disagree, and say we are just in a transitional period. Technology improves so fast, that man often can’t keep up. As soon as we upgrade our technology, a new invention makes it obsolete. There are some scholars who believe our economy will level out, when people adjust to the new digital economy. When major technological advancements are made, it takes time for their adjustments to be accepted. The current argument is whether or not, once these adoptions are accepted if the economy will then catch up?
Let us know what you think? Do you agree with these thoughts, and we are just in a technological transitioning period? At eBridge we believe in an integration of personal interaction with a technological platform. We provide fully manage reverse auction services, within our platform and our customer service. To learn more about eBridge please contact us at: 1-877-245-8880, or visit our website http://www.ebridgeglobal.com.
To read the entire article, please click the following link: http://www.businessweek.com/finance/can-the-jobsandincome-crisis-end-well-11252011.html
December 14, 2011 • 11:28am in eBridge, White Papers
During hard economic times, asking tough questions can be a key factor to the success of your business. It is often uncomfortable to ask about the financial health of your business partners, but knowing those answers is vital to your business’ economic health. Buyers and Suppliers must have an honest discussion during the procurement process, or both could face heavy losses with extreme economic consequences.
An excerpt from the article Risk Management Requires Tough Questioning, By Paul Teague, highlights how many business have been affected by this economy over the last few years.
Here is a startling statistic: 49,895 businesses filed for bankruptcy in the US federal courts during the 12-month period ending September 2011. Think that’s a big number? It is – but it’s 14% lower than the number for the 12 months that ended in September 2010. In other words, business bankruptcies in the US have gone down despite a less-than-stellar economy. From a macro-economic perspective, that’s good news. From a micro-economic perspective (that is, your own personal business world), it’s only good if none of your key suppliers were among the companies going bust.
Companies, large and small are doing everything possible to add to their bottom line. They are looking for innovative ways to cut cost, and find true market value for their purchases. Reverse Auction is an exciting method that allows multiple suppliers to bid against each other, allowing the buyer to receive competitive pricing. Purchasing at true market value will allow for a more accurate budget to be developed.
eBridge provides a fully managed reverse auction service, and understands the needs of companies facing financial struggles. Our procurement team would be happy to show you how our process can work effectively with your procurement procedures.
Please contact us at firstname.lastname@example.org, or call us toll free at 1-800-245-8880.
To read Paul Teague’s article in its entirety click here: http://blog.procurementleaders.com/procurement-blog/2011/12/12/paul-teague-risk-management-requires-tough-questioning.html?printerFriendly=true
April 20, 2011 • 1:24pm in White Papers
In a white paper published by ThreeCore Purchasing Consultants, the author highlights six common pitfalls of reverse auctions. Below each pitfall, I address the objection and how our services complement each roadblock.
At eBridge we work hand-in-hand with our clients to not just avoid pitfalls, but achieve remarkable results. Take a look at these pitfalls and let us know what you think.
1. Lack of supplier preparation: Prior to the event, eBridge gives one-on-one tutorialsto each pre-approved supplier. Our procurement team is available throughout the process for additional training and to answer questions that will naturally arise.
2. Inviting the wrong suppliers: Although a key part of our process is supplier sourcing and recommendation, the buyer always reviews and approves which suppliers will participate.
3. Including too many suppliers: A common misconception in reverse auction procurement is that the number of participating suppliers determines a successful event. Through eBridge’s sourcing and recommendation process, our team brings an average of 32 suppliers to the buyer for their consideration. On average, 6 suppliers participate per event. A competitive environment is the ultimate goal for our customer.
4. Starting with difficult materials: At eBridge, our team provides the expertise to determine which items are appropriate for the process. Our comprehensive Spend Analysis report provides customers with a full view of the items on their upcoming purchasing schedule that will fit the process. Our analysis clearly defines the items that fit the reverse auction process- and those that do not.
5. Not enforcing the rules: Reverse auction software companies and third party providers do not provide the leadership and guidancenecessary to integrate reverse auctions into your purchasing strategy. At eBridge we recognize that leadership is an integral part of the solution. Our mission is “to provide leadership in reverse auction procurement and process change that creates meaningful value for our customers.”
6. Setting artifically low targets: At eBridge, the cornerstone of our services is to allow the free market to reign. The competitive environment created through our process yields an average net savings of 14%, but ultimately gives customers assurance they are purchasing at market.