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Doesn’t anyone out there want my business?
WHY IT’S TOUGH TO CONNECT TO SMBs, AND WHAT YOU CAN DO ABOUT IT.
Ed Edwards – Manager, Audience Outreach, THOMASNET.com Natalie Menke – President, Universal Blower Pac and INOHVA Pneumatics
KG16Date/Time
Natalie MenkePresident
Universal Blower Pac & INOHVA Pneumatics
MEETOUR SMB
2015 TOP 10
SMB Business
Issues
Source = techaisle
Are addressed by getting new customers
Fortune 100Supplier
Initial RFX Event Using
THOMASNET.com
26Supplier
Responses
219# of Suppliers
in Event
• The Importance of SMBs
• Perceptions and Realities
• Tactical Recommendations
• How THOMASNET.com can help
• Q&A
OVERVIEW
The Importance of SMBs
of US manufacturersare between 5-99 employees
Source = 2013 US Census Data
49%
39%
17%
14%
18%
6%6% Manufacturing
0-4 Employees
5-9 Employees
10-19 Employees
20-99 Employees
100-499 Employees
500+ Employees
MORECHOICES
* Source = THOMASNET User Research 2013
What (if any) are your company's preferences for sourcing from the following geographies?*
Local Regional National
Always Preferred 41.0% 17.0% 20.8%
Generally Preferred 31.1% 57.1% 32.1%
Sometimes Preferred 18.9% 15.6% 29.7%
Rarely/Never Preferred 1.9% 1.4% 6.1%
No Pref to Note 7.1% 9.0% 11.3%
Manufacturers in Indiana**
2,151 under 5 employees
3,908 between 5 and 99 employees
612 between100 and 499 employees
612 above500 employees
YOU WANT TO SOURCE REGIONALLY
** Source = 2013 US Census Data
Top (5) Reasons %
Cost Reduction 87%
Quality or Consistency Issues 75%
New Product or Customer 63%
Logistics (Extended Lead‐Times, Inventory Issues, etc.) 55%
Single Supplier Risk Management 38%
Employee Size Average Payroll per employee
0‐4 employees $40,004
5‐9 employees $36,313
10‐19 employees $40,717
20‐99 employees $45,769
100‐499 employees $48,975
500+ employees $61,150
YOU WANT TO KEEP COSTS DOWN
What are the most common circumstances that have led you or your company to seek a new or alternative supplier? (Select all that apply)*
Average Payroll By Company Size
(US Manufacturers)**
* Source = THOMASNET User Research 2013** Source = 2013 US Census Data
More People =
More Cost +Less Innovation
YOU WANT AGILITY
More Bureaucracy =
More Bureaucracy
Perceptions and Realities
UNDERSTAND WHO YOU’RE
WORKING WITH
PERCEPTION:BUREAUCRATIC
PROCESS
PERCEPTION:LONG ODDS
PERCEPTION:RISK BEING
TIED TO ONE CUSTOMER
SMBs BIG COMPANY
PERCEPTION:LONG
PAYMENTTERMS
REALITY:LONG
PAYMENTTERMS
Source = Joint Small Business Credit Survey Report, 2014 Federal Reserve Banks of New York, Atlanta and Philadelphiahttps://www.newyorkfed.org/medialibrary/media/smallbusiness/SBCS-2014-Report.pdf
REALITY:LONG
PAYMENTTERMS
Tactical Recommendations
TOP TIPS FOR
WORKINGWITH SMBs
TOP TIPS FOR
WORKINGWITH SMBs
TOP TIPS FOR
WORKINGWITH SMBs
Offering Financing
Options – REVERSE FACTORING
Financial Institution
SupplierBuyer
2. Invoice Approval 3. Factor Pays Invoice net of financing fee paid by Supplier
1. Invoice
4. Payment to Factor 90+ Days
BONUS TIP
When you've advanced from RFI to RFP, detail your specific needs and requirements as thoroughly as possible.
http://thomasnet.co/1Xp9X8y
Fortune 100Supplier
Initial RFX Event Using
THOMASNET.comCorporate Edition
26Supplier
Responses
219# of Suppliers
in Event
Fortune 100Supplier
Most RecentRFX Event Using
THOMASNET.comCorporate Edition
70Supplier
Responses
142# of Suppliers
in Event
How THOMASNET.comcan help
Our singular focus since 1898: Making it easier for buyers and engineers to find the right suppliers
Our THOMASNET.com FREE Platform• Access to over 700,000 Commercial & Industrial
suppliers in North America
• Shortlist and qualify by region, certifications, and diversity-ownership
• Evaluate and compare suppliers based on capabilities
• Create, save & share suppliers shortlists
• Send RFI/RFQs to multiple suppliers at once
• RFI follow-up from THOMASNET
• Integrate and identify all your Approved Supplierswithin our platform
• Team-level sharing & collaboration tools
Our THOMASNET Corporate Edition
Questions & Answers
YOUR FEEDBACK IS IMPORTANT
Please take a few minutes to complete this brief survey.
Survey link: www.instituteforsupplymanagement.org/ZA16
or Scan the QR code on your smartphone.
