Afternoon Coffee: Tesla’s Supply Chain Woes, SciQuest Sets New Corporate Records

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Sales for Tesla's distinctive electric vehicles grew at a steady clip last quarter, but the company is still struggling to bulk up parts delivery, production and distribution efforts enough to prevent delays for customers. Tesla fell several thousand cars short of its goal to deliver 80,000 vehicles last year. The company may look for ways to match the supply chains of bigger automakers as its own ambitions grow, the Wall Street Journal said.

SciQuest Reports Strong 2016

Source-to-pay provider (S2P) SciQuest announced Tuesday it finished 2016 with the strongest financial and business position in the company's 22-year history, the provider said in a press release. SciQuest ended the year with its highest revenues ever and more than 50 new customers.

“We are now coupling customer feedback with market analysis, and our focus is to provide the most complete, user friendly source-to-pay suite available for any business needs, from simple to complex,” said SciQuest CEO Robert Bonavito. “Our goal in 2017 is to become the dominant spend management solutions network, across multiple industries."

Small Businesses Make Strides with Federal Procurement

The federal government awarded more than $640 billion in federal procurement dollars to small businesses during President Obama’s first seven years in office, according to the newly released exit memo by the U.S. Small Business Administration. That represents an increase of more than $125 billion since before the Obama administration took office. Last year, the SBA led the government to an all-time high of 25.75% of contracts with small businesses, Spend Matters reported.

Toyota Material Handling Invests in Research

And finally, Toyota Material Handling North America announced Thursday the debut of the TMHNA University Research Program, “a sponsored research program created to drive the next generation of technologies for the entire supply chain, logistics and material handling industry.” The company chose three programs to fund, including one procurement may find particularly interesting: Data-driven Failure Predictive Analytics for Internet of Things (IoT) enabled Service Systems, from the University of Wisconsin at Madison.

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