The Latest

How to Combat Price Increases Caused by Supplier Consolidation


Margin compression is very real for most dealerships. As companies continue to consolidate, competition can be reduced, prices go up and a take it or leave it attitude can prevail with some suppliers - giving dealerships even more headaches to ...

How to Make an Ineffective Spend Strategy an Effective One


The implementation of a Spend Management Vision – a dedicated function within an organization is very common in most large organizations. While most organizations that have a Spend Management Vision and Department realize the benefits and ...

How Benchmarking Can Reduce Costs When You Don’t Have Time to Quote


For those of you who have done any sourcing over the years, you know the best way to determine truth in the marketplace is to develop a well-designed request for quote (RFQ) and run that quote with three to four qualified suppliers. But a quote is ...

167 Dealership Options to Reduce Costs


COVID was a 2 x 4 to the head in terms of getting our attention and showing us how quickly a business can go from something amazing to pure survival mode. During early COVID times management teams were scrambling to gather information and executing ...

5 Tips to Revolutionize Your Expense Management


Many organizations have engaged in some form of cost reduction at one point or another. Most cost control actions are short term….designed to quickly reduce costs in some proportion to the corresponding decrease in revenues. But once they’re no ...

8 Best Practices of Highly Effective Purchasing Operations


All organizations have a purchasing function within their operations. Some organizations centralize their purchasing activities with one group to leverage spend, reduce costs and drive economies of scale. Other organizations decentralize their ...

How Contract Management Reduces Costs and Risks


Pop quiz time: How many supplier contracts does your organization have? Where are your contracts located? When do those supplier contracts expire? Which of the contracts will automatically renew? If you don’t know the answers to these questions, you ...

7 Fresh Ideas to Generate Procurement Cost Savings


As a purchasing group, we are continually investigating, interacting with and meeting new suppliers and industry experts who have proven they can impact a business in a very positive way. Many of these suppliers have new and innovative approaches to ...

A Cost Reduction Strategy Any Business Can Use


If your business is like most businesses, you don’t spend a ton of time thinking about your procurement costs. At some point, somebody somewhere set up a plan to order toilet paper and paper towels annually, so that’s that. This is usually true for ...

How to Reduce Expenses by Using a Preferred Supplier


Managing your supplier expenses is critical to your profitability.  People can tend to focus their efforts on the “visible” part of an iceberg and neglect to see the dangers of the “invisible”, in this case the size of the iceberg under the water ...