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Morinda, headquartered in Orem, Utah is the producer of the nutritional, one-of-a-kind TAHITIAN NONI® juice, along with many other personal care products including skin care and hair care. The company, which recently celebrated its fifth anniversary of business, is expanding rapidly with an annual growth rate of 20 percent, and almost $500 million in annual sales.
With a worldwide presence in over 20 markets, Michael McClellan, the Morinda director of global procurement, has his work cut out for him when it comes to risk analysis and relationship building with suppliers worldwide. Before entering a contract with a supplier, McClellan depends on SkyMinder to analyze the vendor's financial information, credit rating and to aide him in analyzing the risk with establishing a relationship.
"We have established a set of financial and credit requirements that our suppliers must meet," said McClellan. "As we continue to expand globally, our first step is to use the SkyMinder database to research our potential business partners.
"In one particular instance, we learned the hard the way about the importance of utilizing SkyMinder for business information. We were interested in making a major hardware purchase . A supplier was found via the Internet and we placed an order. Eventually, we received our equipment with the exception of the pieces that were vital to its operation. If we had utilized our current process of checking SkyMinder for a vendor's credit information, it would have been discovered that the hardware manufacturer had recently filed Chapter 11 bankruptcy. With the Chapter 11 bankruptcy we did not have the power to get our money back. The machine was rendered useless and we lost our initial investment.
"From my experience, the power of SkyMinder is its extensive and exclusive international information, the variety of reports and resources available to its users, and the customization available with the SkyMinder Ultimate Report."
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