bisco industries Blog

Introducing bisco’s New Blog Series – What is it Wednesday?

Modern procurement teams often purchase items based only on a product number and a short description. Product expertise is left to engineers allowing buyers to focus on obtaining cost savings and ensuring on time delivery. Despite the benefits of specialization, processing basic product knowledge can often be useful for purchasers.  In particular, product expertise is helpful when related products are required or when alternate products are provided.  Although a buyer may not make the final decision about purchasing associated items or accepting alternates, product knowledge can help them make an informed decision about escalating to an engineer or supply chain manager.

In an effort to provide purchasing teams with foundational product information, bisco industries is launching a blog series called What is it Wednesday. Each Wednesday we will offer insight on common electronic components and hardware by providing product descriptions, common applications, and top manufacturers. To receive updates on the What is it Wednesday blog series and other news from bisco industries be sure to subscribe to our blog.

A Partner for a Constantly Evolving Supply Chain

In a recent article for Global Purchasing, bisco’s Jon Pickard highlighted the necessary response of procurement teams to the growing skills gap among manufacturing workers.  According to Pickard,

The growing scarcity of qualified workers will not only affect production, but procurement as well. It is likely that purchasing teams will see longer lead times and higher material costs as manufacturers work below capacity. With this grim outlook, purchasing teams should prepare by going back to the procurement basics:

Read the entire article here

Challenges like this one are nothing new to the supply chain. That’s why it helps to have a partner who understands the changing procurement landscape. With over 40 years of experience helping procurement teams overcome the challenges of dynamic supply chains, bisco industries is that partner. Learn more about partnering with bisco by contacting one of our 46 local offices.

3 Procurement Tips for Fabricators & Manufacturers

  1. Consolidate Your Supplier List

Slimming down your supplier list can seem like a daunting, risky task, but there are a few tips that can help you evaluate and consolidate your vendors and get great results. When evaluating your suppliers, it’s important to be able to use accurate side-by-side comparisons. Scorecards, supplier-generated reporting and other data can easily be compared, giving you a clear, objective picture of supplier performance. Before you consolidate suppliers, set expectations and be clear about your needs to ensure that your suppliers can meet your requirements and set service level agreements accordingly.

Once you’ve started consolidating your supplier base, routine reviews of your suppliers and regular communication with your suppliers’ point of contact can generate the data needed to give you clearer insight into how well the consolidation is working. It is also important to consider the impact vendor consolidation has on your end customers.  Thorough, proactive communication can outline the benefits of consolidation while also opening up the lines of communication for ongoing feedback from your user community.

  1. Consolidate Purchase Orders

By consolidating purchase requisition lines from multiple purchase requisitions, you can increase your negotiating power with your vendors. As a result, you may be able to achieve better pricing, lower shipping and handling costs, and reduce overhead costs. During the approval process, purchase requisitions should be evaluated against purchasing rules that you define. Purchase requisitions should then be either automatically processed into purchase orders, or held for manual processing and demand consolidation.

  1. Manage Logistics (On-Time Delivery)

Consider partnering with a distributor to help you manage on-time delivery and carry inventory on your behalf. While ordering directly from a manufacturer may save money upfront (depending on industry pricing agreements), it may cost you when it comes to managing inventory and logistics. By partnering with a distributor you are able outsource expediting and inventory management. Some of the more common inventory management services include dock to stock, bar coding, off site bins, consignment inventory and kitting. These services can work in conjunction with an auto replenishment services or as a stand-alone services.

Ready To Optimize Your Procurement Process By Implementing One Of These Strategies?

Partner with bisco industries today! Our wide range of customizable value-added services are designed to adapt to your company’s needs.  We will develop the systems you require to meet your production needs, while saving you time and money. With over forty years of experience in distribution services our mission is to make your job as easy as possible. Visit biscoind.com or contact our dedicated sales team to learn more.

bisco industries: Your Source for Access Hardware and Much More

Whether your application is an industrial vehicle or an electronic enclosure, chances are you need some type of access hardware. Access hardware includes everything from hinges, to latches, to complete electronic entry systems. Since 1945, Southco has been the leading manufacturer of access hardware, providing solutions for even the most challenging applications. Southco’s innovative techniques have resulted in a catalog of over 25,000 standard products and over 50,000 customized products. Southco’s  extensive product portfolio includes electronic rotary latches, cam/compresion latches, draw latches, push-to-close latchescaptive screws, and hinges.

bisco industries is your local authorized distributor for Southco access hardware. In addition to offering extensive stock and online pricing on thousands of Southco products, bisco is authorized for over 150 other manufacturers. That means bisco can not only meet your access hardware needs but also your other hardware, fastener, and electronic component requirements.

Find Cost Savings: Send Your Entire BOM to bisco

By stocking a wide range of products and cultivating manufacturer relationships bisco helps you consolidate your supplier base and find cost savings

Consolidating Suppliers

Consolidating suppliers within specific supply markets is a proven strategy to concentrate buying power and reduce purchase prices. Supply chains are becoming increasingly complex which results in increased costs over time. For example, as your supplier list grows it becomes harder to manage on-time delivery, ensure quality, and prevent unnecessary purchases. By reducing your supplier base and partnering with bisco you’ll see cost savings in the form of increased on-time delivery rates, fewer quality rejections, and even special pricing agreements.

Contact us today!

Visit biscoind.com or contact our dedicated sales team to get product data, pricing, and availability for Southco access hardware and your entire bill of materials (BOM).

%d bloggers like this: