That volcano sure taught us a lesson!
We had no idea it was coming, but now the threat of imminent volcanos taught us a hefty lesson about risk mitigation: Marsh, the world's leading insurance broker and risk advisor, recommends that companies review their applicable insurance policies; [and] assess the personnel, operational, financial, reputational, and compliance impacts; and initiate business contingency plans as appropriate.
Spend Matters couldn't agree more.
Time Warner says cut the mail on Saturdays -- we're cool with it.
According to this article, "Time Warner Inc., publisher of more than 20 U.S. magazines including Sports Illustrated and People, said it supports the Postal Service's proposal to eliminate Saturday mail delivery to save money."
What about having the US Postal Service give up their mail monopoly, and potentially letting someone else step in for Saturday delivery duty?
Chinese Stimulus Spending...
China plans to triple the size of their subway system over the next five years. There's some stimulus spending for ya'.
IBM: Movin' on up!
"IBM Corp. said Wednesday it expects to earn at least $20 per share in 2015, excluding some acquisition and pension-related costs -- a forecast that reflects the growing importance of IBM's hugely profitable software division and 'growth markets' outside the U.S. where demand for technology is surging."
So...don't feel bad about negotiating harder on procurement BPO or consulting deals with IBM. They can clearly afford some wiggle room.
"The first firm evidence of what likely caused the disastrous Gulf of Mexico oil blowout - a devastating sequence of equipment failures - drives home a central unsettling point about America's oil industry: key safety features at thousands of U.S. offshore wells are barely regulated."
As procurement professionals, how can we avoid disasters such as this? From a supplier management perspective, this is the result of a failure to manage an outsourced supplier. Therefore, let's get those SLA's, certifications, etc. taken care of.