The Latest

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 ...

6 Ways Dealerships Can Improve Their Expense Management


My business has been supporting all types of businesses and non- profits for over 25 years with spend management strategies. This isn’t to brag, but it is to say that we have worked with many businesses and learned something from them.

7 Ways to Improve Your Profitability in 2022


As we’re approaching the end of 2021, many businesses are finding some disappointing profit margins. With the volatility of 2020 and 2021, it’s likely that your profitability suffered. While we can’t predict what will happen in 2022, one thing we ...

Challenging Times Require Expense Planning – June 2021


Failure to plan results in a plan to fail as they say.

Effective vs Ineffective Spend Management Strategies – June 2021


Spend Management is really a combination of a number of key tasks in an organization including the following:

Leaders Simplify the Complex


Running a business is stressful, time consuming, and complicated; riddled with issues and challenges.  While business can be complex for the leadership team, it can also be complex for management and staff as well. When our teams run into problems, ...

Where are the Cost Savings?


Organizations frequently embark on cost reduction initiatives across their enterprises. Some organizations handle it at the corporate level, while others have Purchasing Departments whose responsibility is to get the right product or service to the ...

Creating Cost Reductions in Uncertain Times with Centralization


Most organizations are realizing the true value of high performing purchasing functions now more than ever.

Preferred Supplier Strategy: Reduce Expenses – Increase Profitability


Managing your supplier expenses is critical to your profitability.  If you have ever read or heard about the “Iceberg Principle,” you know that people can tend to focus their efforts on the “visible” part of an iceberg and neglect to see the dangers ...

Are You Ready for 2021?


2020 will be coming to an end within a few weeks. 2021 will be upon us all soon, and with the new year, there will be significant opportunities and challenges to face. Let us look at 2020 and review the current environment and likely conditions for ...

Implement an Effective Spend Management Function


The implementation of a spend management vision – a dedicated function within an organization is very common in most large organizations.  The management of direct and indirect expense are considered an important and strategic role that has a ...

Realize Economies of Scale & Growth – Centralize the Purchasing Function


Organizations seek growth for many reasons. Usually greater revenues and future economies of scale are the primary drivers of growth and scale. Economies of scale can be achieved in various functions within an organization. Economies of scale can ...

Diseconomies of Scale: New Normal for Many Growing – Decentralized Groups


I see countless examples of significant diseconomies of scale in growing, decentralized groups. Based on my early management experience in airline, manufacturing and retail and continuing on today in our Spend Management practice, I believe that ...

When Is Best Time to Create A Strategic Plan? Hint: Now


Most large and successful organizations spend some dedicated time each year to strategic planning with their Executive Management Teams. Strategic plans are normally five years out, but can go out as far as ten or fifteen years in some ...

Introducing for 2018 StrategicSource’s – Profit Improvement Plan


Organizations seeking strategic, sustainable, long term expense solutions with guaranteed rapid bottom line results in a short impactful project are a good match for Strategic Source’s Profit Improvement Plan. Keep your suppliers or use new supplier ...