The supply chain disruption has been affecting all industries over the last couple of years. This, in turn, causing purchasing and sourcing professionals to adjust and pivot in order to continue operating. Now, you may be asking yourself, “will the supply chain ever be the same?” The most common answer—probably not.
You don’t know what you have until it's gone. However, if you're one of the lucky few, or should I say, the perceptive few, you'll realize the value of onsitetalent keeping your company rolling.
Labor shortagesarebecoming commonacross many industries – even more so in multifamily housing when factoring in high turnover rates. As a result, the remaining workforce is taking on more responsibilities and management is struggling to find solutions. Learn howcompanies are findingnew ways to retain or promote their current talent while seeking unique strategies to connect withjobseekers.
The weather is warming up and flowers are blooming! This means it’s time for you to clean up the exterior parts of your property and make sure all outdoor equipment is being well maintained. This laundry list of things to check includes everything from landscaping to gutters and downspouts.
Natural disasters don’t care about supply chain issues, but your group purchasing organization (GPO) does. Being prepared and working with your GPO can help you avoid delays and ensure you have what you need, when you need it.
Whatever role you play in the purchasing process of your properties, everyone has the same goal—do more, spend less. Managing the overall spend of multiple properties can be daunting, but when done strategically, you can rest easy knowing you got the best bang for your buck.
Selecting the right purchasing structure is crucial for optimizing your process throughout your properties. Depending on your size and property spread, it may not be an easy, quick decision. There are pros and cons to any structure so it’s important to weigh each option. You may even decide that a hybrid structure is best for your needs.
When people buy groceries, they decide which stores will save them money and offer the products they need. Some stores require membership fees; some focus only on specialty groceries, while others provide the widest possible range of products. Group purchasing entities work in a similar way. Like the grocery store example, understanding the subtle differences is key to finding the right purchasing partner.
Compliance and rogue spend and purchasing, OH MY!! While these words seem daunting, they are key to staying on budget and increasing net operating income (NOI). In order to fully map out a purchasing strategy you need to define what compliance means for your organization and communicate that to your employees.
Just as landscapes need pruning to thrive, consolidating suppliers can focus growth in the right direction. Multifamily housing professionals gain efficiency when they pare down underperforming suppliers and focus on a core of high performers.