SourceDay Blog

3 Ways to Improve Your Supplier Relationship

SourceDay

The buyer-supplier relationship can be tenuous at times because so much depends on performance. Boost your supplier relationship and your performance. Communication Is Key As a buyer for manufacturing, your product development and assembly are completely dependent upon your suppliers. Those parts, however small, must be delivered on time with the exact specifications in order …

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Why You Need a PO Acknowledgment Policy

SourceDay

In the old days of hard copy, purchase order management was a slow, tactical, papercut-ridden line of work. The physical transit times between buyer and seller and then back to the buyer again, could take days or even weeks. In the meantime, the business moved forward under the assumption that all of the parts and …

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Exception Reporting: Reaching the Pareto Point

SourceDay

The Pareto principle, also known as the 80/20 rule, is commonly used to break down data sets because of its relative simplicity and eerie accuracy. 80% of a company’s spend is with 20% of their suppliers, and 80% of purchase transactions stem from 20% of the company’s buyers. These are both good news and ease …

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New Feature Announcement

SourceDay

TORREY PINES, California – SourceDay, a pioneer in purchase order management automation software, has enhanced its software as a service offering, providing better information for accountability and planning purposes. The new features are available in the product today for all customers. The product now includes: Advance ship notification: Vendors can provide notification to their manufacturing and distribution …

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Can Your Company Survive Without Communication?

Can Your Company Survive Without Communication?

SourceDay

Communication is important. It’s safe to say that’s an understatement in any industry. Consider this, The Society for Human Resource Management estimates poor communication costs larger companies (100,000 employees or more) up to $62.4 million annually. Smaller companies (100 employees or less) average losses in the amount of $420,000 per year. Even though our communication tools are …

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Is your PO’s status: ‘Not my Problem’?

Is your PO’s status: ‘Not my Problem’?

SourceDay

Of all the statuses a purchase order may be assigned – waiting for approval, approved, pending revision, cancelled – the very worst is ‘Not my Problem’. That unofficial (but very real) designation puts POs into a dangerous state of limbo that may be hard to resolve, leading to discontented suppliers and wasted time. This is …

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