Spend Matters Afternoon Coffee

Scams decline, procurement fraud dollar amount remains high.

Procurement scams decline but overall UK fraud tops £1bn -- Despite a decline in traditional procurement fraud, where firms are overcharged for goods and services, fraud in the UK has exceeded £1bn for the first six months of this year, eclipsing previous half-year figures. Experts have pointed to more sophisticated scams such as revenue dilution fraud and insider dealing as increasingly prominent trends.

Procurement in China.

The Big Deal With Procurement -- "People usually think of government procurement as a sector out of the way of regular trading relationships," Stephen Kho, senior counsel at Akin Gump Strauss Hauer & Feld, said in a talk with Josh Gartner of the American Chamber of Commerce in China. "But with China that's not necessarily the case. China's government procurement market is huge, if you take into account how many state-owned enterprises there are...[and] that it's essentially still a centrally planned, or government-planned economy. You're looking at a big chunk of the China market when you look at government procurement," he added. "It's a big deal." The Chinese government estimates that its procurement market surpassed $100 billion last year.

Some advice from The Bangkok Post.

A Word to the Wise: 'Supply Chains don't Fail, They just get even' -- The fact is, your supply chain is there waiting to catch you out all the time, testing your ability and your resilience. It's like a game where you (and your business) have to continually keep ahead of the ever-changing world, where your physical logistics machine (and systems infrastructure) need to be in tip-top shape to ensure you can endure the challenges the supply chain throws at you.

Marketers used to have to guess what messages they wanted to provide...now we segment ourselves into demographics for them.

The unintended consequences of Facebook -- As David Kirkpatrick, author of The Facebook Effect: The Inside Story of the Company that is Connecting the World, notes, companies can use the site for advertising and marketing "based on the extremely exact demographic data volunteered by the individual."

Sheena Moore

Discuss this:

Your email address will not be published. Required fields are marked *