The Spend Matters team is in Orlando this week bringing you live coverage and more from ISM’s annual event. See what Chief Research Officer Pierre Mitchell has had to say so far (spoiler: it’s great!), and be sure to check back throughout the week for more coverage from the rest of the team. And if you’re at the event, be sure to look out for the client services team, which is handing out plaques to vendors that made our 50 to Watch and 50 to Know lists for 2017.
Many procurement practitioners know the basic components and capabilities of an e-sourcing solution. Yet getting users to fully adopt e-sourcing still remains a perennial challenge in procurement organizations large and small. Many organizations are using their e-sourcing platform on only 25% of applicable events, according to one CIPS study. How can this be, when the technology and purported benefits are anything but new? For several reasons, the provider community at large has failed procurement when it comes to designing sourcing solutions. Here are three reasons why they’ve gone astray — and how to fix it.
Afternoon Coffee: Coupa to Launch Coupa Payments, BMW Hints at Production Moves Ahead of Brexit Talks
Coupa announced Tuesday it will launch Coupa Payments, a cloud e-payables solution designed to streamline cross-border payment systems and automate accounts payable processes. Negotiations between the U.K. and the European Union over Brexit are getting a close look from BMW, which hinted in its annual meeting recently that it could abandon production in the U.K. without the free movement of workers
China’s “One Belt, One Road” infrastructure project may be seen as a sign of the rising importance of the East, but that doesn’t mean Western companies won’t stand to benefit, either. Apple’s $1 billion fund designed to spur manufacturing in the U.S. announced its first investment Friday. Afternoon Coffee brings you the latest in procurement and supply chain news.
The Chinese and the U.S. governments formalized a trade deal Thursday that would allow U.S. beef and natural gas to flow into China. Source-to-pay provider Zycus is adding a new office in Dubai in an effort to bolster its presence in the Middle East. Afternoon Coffee brings you the latest in procurement and supply chain news.
Afternoon Coffee: G7 Gets Briefed on Trump Tax Plan, Amazon Offers Cash for Warehouse Robot Breakthroughs
U.S. Treasury Secretary Steven Mnuchin is scheduled this week to brief finance officials from the Group of Seven industrial economies on the Trump administration’s pending tax reform and regulatory plans. Amazon is offering $250,000 to teams who say they have, in a competition taking place in Japan later in July. Afternoon Coffee brings you the latest in procurement and supply chain news.
Afternoon Coffee: BravoSolution Partners with TrustWeaver for E-Invoicing Compliance Services, The Hackett Group Expands Consulting Portfolio
BravoSolution announced Tuesday it has formed a partnership with TrustWeaver to offer global e-invoicing compliance services within its BravoAdvantage platform. The Hackett Group announced Tuesday it had acquired Aecus Limited and completed its acquisition of Jibe Consulting. Afternoon Coffee brings you the latest in procurement and supply chain news.
Finland-based Basware announced Tuesday it is adding a strategic sourcing offering to its purchase-to-pay (P2P) suite, giving customers what it calls a “one-stop shop” for the source-to-pay (S2P) process. There’s a new entrant in the increasingly important market for procurement solutions that focus on corporate social responsibility (CSR) and sustainability: IntegrityNext. Afternoon Coffee brings you the latest in procurement and supply chain news.
Salaries for supply management professionals grew strongly in 2016, an indication that the tightening labor market is pushing companies to compete for top procurement talent, according to the Institute for Supply Management’s 2017 salary survey. The average compensation in 2016 for survey respondents was $115,440, an increase of 5% compared with a year earlier ($109,961). Median compensation in 2016 increased 3.2% to $96,000, versus $93,000 in 2015.
Afternoon Coffee: Bangladesh Alliance Suspends 9 Factories for Poor Safety Standards, Tungsten Partners to Finance SMBs
The Alliance for Bangladesh Worker Safety has suspended operations at nine garment factories for failing to meet its standards. Tungsten Network announced Monday it has formed a partnership with BlueVine, a provider of online working capital financing, to offer more readily available funding for small and medium-sized businesses. Afternoon Coffee brings you the latest in procurement and supply chain news.
Why have procurement technology vendors initiated a “direct procurement” renaissance, and what changes within manufacturers have started to make this possible? This line of questioning forms the backbone of a new interview series over on our sister site MetalMiner, in which Spend Matters Founder Jason Busch questions multiple experts at technology vendors on these and related topics.