Manufacturing Executives and Supply Chain Partners Collaborate at Prime Advantage Fall Conference

Recognized as the Best Buyer-Seller Event of 2013, annual gathering provides forum for buyers and sellers to map out optimal cost reduction programs for 2014
By: Prime Advantage
CHICAGO - Nov. 27, 2013 - PRLog -- Prime Advantage, the leading buying consortium for midsized manufacturers, recently hosted more than 250 senior operations, procurement and sales professionals at its 32nd Conference in Columbus, OH. The semi-annual event, which took place October 22-24, brought together more than 25 manufacturing industries, including commercial foodservice, packaging, truck and trailer, material handling, food processing and construction.

HIGHLIGHTS OF THE SUPPLY CHAIN CONFERENCE

In keeping with the theme of the conference, “Collaborate, Innovate and Celebrate,” participants attended key sessions on sharing best practices for supply chain management, growth, and profitability.

Prime Advantage’s Fall Conference kicked off with economist Dr. Chris Kuehl, the Chief Economist for the Fabricators & Manufacturers Association, who shared his view on the U.S. manufacturing growth and economic upside, and stressed the need to focus government’s energy on long-term solutions rather than applying quick fixes.

Manufacturing professionals attended a robust breakfast session on the role of procurement organization and how to become a Championship-Caliber Negotiator. Led by Dr. Soheila Lunney, president, Lunney Advisory Group, the session offered unique insights and negotiating strategies that procurement professionals can implement within their sourcing teams and throughout their organization. ‘Look at overall best value, have a written agenda to control conversations, don’t make assumptions, prepare in advance as the negotiation process starts before the face-to-face encounter’ – were some of the components that make a Championship-Caliber Negotiator.

Renowned metals expert Markus Moll of Steel and Metals Market Research shared his view of the current market and his expectations for 2014. Market conditions have kept pricing pressures low, and market demand remains tepid. Possible increases in business demand in 2014 would likely lead to increases in pricing, as profit margins at producers and distributors are at unsustainably low levels.

Kloeckner Metals of Roswell, GA and Grainger Industrial Supply, headquartered in Lake Forest, IL were honored with the Endorsed Supplier of the Year awards, which measures overall performance and is the highest achievement a Prime Advantage Endorsed Supplier can earn. This award is voted upon prior to the Fall Conference by the entire Membership of Prime Advantage – more than 750 manufacturers headquartered throughout North America are eligible to vote.

Each year Prime Advantage hosts the Executive Summit at its Fall Conference. This special event for manufacturing executives offers education critical to executive performance: the role of innovation, the U.S. economy, organizational culture best practices, U.S. regulations, and healthcare reform. The sessions were delivered by accomplished industry thought leaders in the areas of risk management, benefits solutions, strategy and innovation consulting. Featured speakers included Daniel J. Ikenson, director, Herbert A. Stiefel Center for Trade Policy Studies at the Cato Institute, who discussed the effect of U.S. trade policies on foreign direct investment and its impact on the U.S. economy.

“Twice per year, we bring our Members and Suppliers together for an incredibly unique opportunity to learn, explore, and enhance the buyer-seller relationships within the manufacturing sector,” said Louise O’Sullivan, founder, president and CEO of Prime Advantage. “Our fall conference is highlighted with the Executive Summit, which provides excellent speakers, interactive sessions, and connects leaders of our Member Companies with each other in an intimate, confidential arena to conduct problem solving exercises. As we continue to grow as a group, these events become even more impactful.”

Prime Advantage concludes each conference by distributing rebates earned by Member companies based on negotiated programs with its Endorsed Suppliers. In the past ten years, Prime Advantage has paid more than $146 million in rebates and discounts to its manufacturing industry Members.

The success of Prime Advantage has been continuously recognized in the industry. This year Prime Advantage was named winner of the Expo EXCITE Awards in the category of Best Buyer-Seller Event. The 2013 E.X.C.I.T.E. Awards, presented by Expo, recognize the year’s top performers and celebrate excellence and innovation across 25 categories of tradeshows, exhibitions and conference production.

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About Prime Advantage

Founded in 1997, Prime Advantage is a buying consortium for manufacturers with more than 750 Members and more than 125 Endorsed Suppliers. For more information on Prime Advantage, visit the website at www.primeadvantage.com.

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Source:Prime Advantage
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Tags:Buying Group, Buying Consortium, Group Purchasing Organization, Gpo, Prime Advantage, Sourcing, Manufacturing Suppliers, Industrial Manufacturing
Industry:Business, Manufacturing, Services
Location:Chicago - Illinois - United States
Subject:Awards
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Page Updated Last on: Nov 28, 2013



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