Author Archives: Nick Heinzmann



Procurement Salaries Grew in 2016, But So Did the Gender Pay Gap: ISM Survey

salary

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.

Where Manufacturing Procurement Technology is Headed: A New Interview Series

manufacturing

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.

Afternoon Coffee: Japanese Steelmakers Look to Diversify Suppliers, Tyson to Eliminate Antibiotics in Chicken

Heavy reliance on imported ferroalloys from China and India is starting to worry Japanese steelmakers, who are now looking to new suppliers to hedge on future supply risk. Tyson Foods announced Monday its poultry products would be free of antibiotics by 2018. Afternoon Coffee brings you the latest in procurement and supply chain news.

Empathizing with Procurement: How BravoSolution and its Customers are Tackling the Digital Gap

consultant

“These are not necessarily new challenges we’re all trying to solve.” That’s how BravoSolution CEO Jim Wetekamp described the gap between trends in the procurement software market and data gathered from a recent customer survey by the provider. Addressing a room of more than 50 customers Thursday at the BravoAdvantage Customer Forum in Chicago, Wetekamp highlighted the rising prominence of the procurement function while conceding that cost reduction and data visibility are still persistent thorns in practitioners’ sides.

Afternoon Coffee: Thyssenkrupp Plans 3-D Printing Center, U.S. Factory Activity Slows Down

Later this year German industrial group Thyssenkrupp plans to open a 3-D printing center to manufacture products for its customers. ISM's PMI dropped to a four-month low of 54.8 in April from a reading of 57.2 in March, reversing a trend of increases that started in November. Afternoon Coffee brings you the latest in procurement and supply chain news.

Afternoon Coffee: IBM Patents Idea to Pass Packages Between Drones, The World Catches Cobalt Fever

IBM has been looking for new lines of business to support future growth for a while now, and a recently submitted patent may just offer that. The price per ton for the cobalt, which is a component of lithium-ion batteries, has soared nearly 70% this year. Afternoon Coffee brings you the latest in procurement and supply chain news.

Afternoon Coffee: Riskmethods Receives €13.5 million in Series B, Lighthizer Inches Closer to Trade Rep Position

Riskmethods announced Wednesday it had completed its Series B financing round with an investment of €13.5 million, according to a press release. The Senate finance committee voted 26–0 Tuesday to advance Robert Lighthizer one step closer to the position of U.S. trade representative. Afternoon Coffee brings you the latest in procurement and supply chain news.

Workforce 2020: The Enterprise Imperative for the Digital Transformation of Work

The world’s biggest companies are undertaking digital transformation projects, and many have chosen 2020 as their deadline. And to follow through on any 2020 digital initiative, an enterprise must fully update its digital workforce strategy, as well — call it Workforce 2020. Contingent workforce and services procurement (CW/S) practitioners thus need to prepare for this new workforce paradigm and fully understand the digital platforms that will enable it.

Afternoon Coffee: Spend Matters Launches P2P SolutionMap, Work Market Raises $25 Million

In case you missed it, Spend Matters launched the third part of its first SolutionMap early Tuesday. The most recent release focuses on eight procure-to-pay suite solution providers, while prior entries of Spend Matters’ Q2 2017 SolutionMap series featured e-procurement and invoice-to-pay solution providers. Also, Work Market announced Tuesday it had raised $25 million from Accenture and Foundry Group. Afternoon Coffee brings you the latest in procurement and supply chain news.