How Data Safety Ensures a Fair and Equitable Marketplace for Long-Term Advantage

June 24, 2022

Method operates on the premise that by providing a fair and equitable marketplace that brings business opportunities to vendors and suppliers, big and small alike, and greater market visibility to buyers, we can create a healthier, more vibrant dental ecosystem for all.Because healthy competition is just that, healthy. In a competitive and transparent market where companies are forced to differentiate themselves, they ultimately provide better products, services, and pricing to consumers. They're more likely to invest in designing and improving products and drive out operational costs through continuous improvements.Essentially, a competitive environment motivates and inspires suppliers to do their best rather than just good enough. But to cultivate a healthy competitive landscape, the playground must be a fair one—something Method is working to create.

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Data Privacy and Procurement Ethics

According to Precedence Research, the global dental consumables market size is predicted to hit around US$ 65.18 billion by 2030—showing there is plenty of opportunities for ALL to do their part in providing top-quality, affordable dental care.To ensure fairness as well as safety, we abide by the rules of procurement ethics, as well as that of personal data privacy.In a world of increasing digitization, it is still up to humans to design the process, rules, and algorithms that keep personal, business, and supplier data safe and secure, and at Method, we take that responsibility seriously. Not only because it's required, but because it makes for good business, for us, and for our clients.Here's how.

Shopping Smart Made Easy

By delivering current market pricing and the availability of dental supplies to the fingertips of our clients, we make shopping smart easy. This obviously benefits our clients, empowering them to save on the costs of their dental supplies and improve profits, but it's also good for sellers.For suppliers and distributors, especially the "lesser-knowns," Method helps bring them into the line of sight, without the need for a salesforce or marketing or any of the other resource-draining sales tasks. It's a step in the door without having to knock on the door.

Removing Barriers to the RFQ Process

Issuing and participating in Request for Quotes (RFQs) is known to be a cumbersome, time-consuming process for all parties, creating a barrier of entry for those with fewer resources.By offering a digital, easy-to-access, and fast-to-complete RFQ process, Method removes that barrier, allowing for quicker and easier participation and affording more opportunities to small and medium-sized suppliers.

Data Security: Creating a Fair Playground

As we stated in the ethics of dental supply procurement, even the appearance of inappropriate behaviors can harm your business's reputation, limit your ability to foster a competitive environment, and lessen the efficacy of your dental supply inventory management and purchasing practices.The best outcomes are achieved when suppliers happily go the extra mile, sharpening their pencils, removing costs, and providing value-adds, all on their own accord. Although playing favorites and feeding your suppliers competitive, non-publicly available pricing that you've received from other suppliers may garner you a few pennies in the short-term, in the long-term, it eliminates the very competition that keeps your prices moving in the right direction.Remember, without competition to keep them fighting for your business suppliers will be quick to increase prices and erode away those cost savings you were striving for.

Setting the Rules of Engagement

"Supply management professionals have an obligation to ensure confidential and proprietary information is adequately protected."—Principles and Standards of Ethical Supply Management Conduct with Guidelines, Institute of Supply Management (ISM)This includes, but is not limited to:Contract terms and conditionsBids and quotationsProduct and other costsAny information not available from public sourcesManufacturers, distributors, and suppliers want and appreciate transparency and expect a fair and equitable playing ground, and rightly so.Businesses, their trading partners, and the salespeople that represent them work hard to reduce operating costs and offer you the best possible price and service they are able and should be compensated accordingly.By setting the rules of engagement and engaging in fair play, you afford equal opportunity to all, ensuring suppliers remain motivated and continue to vie for your business for years to come.ISM offers guidelines for confidential and proprietary information, which include:Do not accept or share confidential or proprietary information unless there is a need to know.Use confidential and proprietary information only for its intended purpose.Mark and identify confidential and proprietary information appropriately.DSOs may want to create their own ethics policies and guidelines, covering data privacy as well as other areas of risk such as impropriety and conflicts of interest. For further guidance, see ISM's Principles and Standards of Ethical Supply Management Conduct with Guidelines.

Method: Doing Our Part in Keeping You Safe

Method is committed to ensuring that your privacy is protected.According to the U.S. Department of Labor, Personal Identifiable Information (PII) is defined as:"Any representation of information that permits the identity of an individual to whom the information applies to be reasonably inferred by either direct or indirect means.Further, PII is defined as information:(i) that directly identifies an individual (e.g., name, address, social security number or other identifying number or code, telephone number, email address, etc.) or (ii) by which an agency intends to identify specific individuals in conjunction with other data elements, i.e., indirect identification. (These data elements may include a combination of gender, race, birth date, geographic indicator, and other descriptors). Additionally, information permitting the physical or online contacting of a specific individual is the same as personally identifiable information. This information can be maintained in either paper, electronic, or other mediaAs Method has access to Personally Identifiable Information (PII) and other sensitive procurement data, we hold a special responsibility to safeguard that information, protect it from loss or misuse, and provide full transparency on the occasions where your Personally Identifiable Information may be used.As stated in our Privacy Policy, Method does not rent or sell your personally identifiable information (such as name, address, telephone number, and credit card information) to third parties for their marketing purposes. See our Privacy Policy for further details on certain legal circumstances where we may be required to share data.The policy further sets out how Method collects, uses, and protects any information you may provide when using Method's websites, mobile apps, social media pages, or any other products or services offered by Method ("Services").Rest assured that any information by which you can be identified that is provided to Method through its website will be used only in strict accordance with our Privacy Policy.In the spirit of full transparency, it's important to note that Method may share aggregated non-personally identifiable information either publicly or with business partners like publishers, advertisers, or connected sites. For example, Method may choose to publicly share information that identifies trends regarding the general use of Method's websites and/ or other products or services.In today's environment, cybersecurity and data safety must be taken seriously. Digital solution providers that have access to PII and other sensitive information hold a responsibility to safeguard data from being misused by third parties for fraud by ensuring the proper usage, handling, processing, and storage of all PII.To fully understand how we keep your data safe and how your information may be used, we fully encourage you to read our Privacy Policy and reach out to us with any questions.

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