Spend Matters Afternoon Coffee
Join Jason and Hubwoo for a webinar next week.
How to Better Leverage Your ERP Investment with a Supplier Network — Hear insights from Jason Busch on how organizations today use third-party supplier networks to optimize their ERP procurement technology. Learn how CONSOL Energy drove $44M in cost savings leveraging an ERP-integrated supplier network to bring two company consolidations under its fold quickly and seamlessly while reallocating headcount.
How Big Chocolate plans to save its cocoa supply — A Hershey’s Kiss is more complicated than it looks. Most of the cocoa in it and other chocolate candies comes from West Africa, and it makes its way through a long supply chain to get to U.S. factories. Now more than ever, Fortune 500 companies such as Hershey (HSY) have to take responsibility for every link in that chain. On January 30, Hershey announced plans to put $10 million towards solving child labor problems on West African cocoa farms by 2017. The money should also help farmers access educational programs and improve their cocoa yield.
Glencore to Buy Remaining Stake in Xstrata for $41 Billion — Glencore International, the biggest commodities trading company in the world, agreed on Tuesday to buy the remaining stake in Xstrata it does not own already in a deal that would create a company with a market value of nearly $90 billion. Glencore, which already owns 34 percent of Xstrata, will pay about $41 billion for the remaining stake, valuing the mining company at nearly $62 billion. The offer represents a 15 percent premium to Xstrata’s closing share price on Feb. 1.
Maybe Not Made In Detroit of the Day — Rapper Kid Rock’s retail company, Made in Detroit, makes popular t-shirts sporting the company’s namesake phrase, but there’s a catch: the items are often not made in Motor City. The clothing company, saved from bankruptcy by the Detroit-repping singer in 2005, makes the popular “Made in Detroit” shirts, but some of the tees are produced in the Dominican Republic or China.