Afternoon Coffee: Nominations Open for 30 Under 30, Oil Glut to Continue Through 2017

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THOMASNET.com and the Institute for Supply Management kicked off their third annual “30 Under 30 Rising Supply Chain Stars” Recognition Program Tuesday, continuing the effort to recognize the newest crop of millennials making a name for themselves in procurement and supply chain careers. Individuals can nominate deserving young professionals by going to THOMASNET.com/30under30. The deadline is Dec. 1, 2016, 11:59 P.M.

To get an idea of the competition, check out our profiles of three 2015 winners: Leandra Taylor, contracts manager for Shell Exploration and Production Company; Amrish Lobo, director of global logistics, distribution and customer service, global supply chain, at Baker Hughes Inc.; and “megawatt” winner Amy Georgi, program manager of acquisitions and integrations for Fluke Electronics.

The global glut of oil won’t stop any time soon. OPEC raised its forecast of oil supplies from non-member countries in 2017, Reuters reported. Demand for crude will average 32.48 million barrels per day (bpd) in 2017.

Enterprise information management provider OpenText is acquiring Documentum along with the rest of Dell’s enterprise content division. The $1.62 billion deal will mean procurement groups that use Documentum to support contract management and requisitioning efforts will eventually be looking at an OpenText solution.  

And finally, some rough news from one of the world’s largest steelmakers. Tata Steel posted a 10-fold increase in net loss for the quarter Monday, following a global demand slowdown and losses in its U.K. business. The reported earnings significantly undercut analyst expectations, the Wall Street Journal reported.

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