The Industry News Category

Commodities Roundup: Chinese Aluminum Exports, Copper Balance and Section 232 Steel Tariff Exclusions Granted

aluminum

From price movements to policy decisions, we scour the landscape for what matters. For the buyers and category managers out there, especially those of you deep in the weeds of buying and managing commodities, here’s a quick rundown of news and thoughts from particular commodity markets this week.

Commodities Roundup: Base Metals Prices Rise in May, Rio Tinto-Minmetals Joint Venture

For the buyers and category managers out there, especially those of you deep in the weeds of buying and managing commodities, here’s a quick rundown of news and thoughts from particular commodity markets. From price movements to policy decisions, we scour the landscape for what matters. This week, we discuss rising base metals prices, the Rio Tinto - Minmetals joint venture and more.

Why E-Commerce Trends Necessitate the Adoption of Automation and Analytics Tools in the Retail Industry

In November 2017, the popular online retailer ASOS introduced a new “try before you buy” service. The scheme, as the name suggests, allows customers to order multiple items — say, the same shirt in different sizes, or different items altogether — and try them on. Then customers can return the items they do not want, and ASOS charges only for the items they keep. This flexibility may be helping e-commerce businesses win market share, but for many retailers, the inevitable flood of returns make for a growing risk, a report from Brightpearl finds.

Cognitive Sourcing Provider LevaData Completes $12 Million Series B

funding

LevaData announced Tuesday it had completed a $12 million Series B financing round, led by Tola Capital. The sourcing technology provider plans to use the funding to deepen the capability of its platform, further innovations in engineering and data science, and expand into new industry verticals, according to a press release. Since 2014, LevaData has raised close to $20 million in venture capital, including $5 million in August of last year from its Series A round, also led by Tola Capital. 

3 Surprising Ways the Procurement Technology Market Has Changed in the Past Year

In the year since we launched our first SolutionMap, the procurement technology space has evolved considerably. Between product updates, the rise of new solution areas and increasing provider consolidation, the technology landscape is changing every day. Procurement professionals no doubt have found it harder than ever to keep track of which solutions offer what capabilities, which companies are still independent and which have become part of a suite, and what technologies they need know to stay ahead of the competition. And just as the provider space is changing, so too has our approach to evaluating and ranking vendors.

Challenging Dried Fruit and Nut Markets Due to Currency Fluctuations

Spend Matters welcomes this guest post from Jara Zicha, senior market analyst at Mintec.

Argentina and Turkey are major global players when it comes to the dried fruit and nut markets. Recently, however, both countries saw a sharp devaluation in the value of their respective currencies. The Argentinian peso plummeted 17% over the course of a month, between April 24 and May 24, 2018, and is currently down 35% year-over-year.

Sole Sourcing and Lack of Weapon Design Experience to Blame for Pentagon’s Munitions Procurement Woes

The U.S. government is facing considerable challenges with its munitions procurement, as reported by Defense News in an article memorably headlined “The U.S. is Running Out of Bombs — And It May Struggle to Make More.” According to the latest annual Industrial Capabilities report from the Pentagon's Office of Manufacturing and Industrial Base Policy, sole sourcing and a lack of weapon design experience are crippling the U.S. industrial base.

Commodities Roundup: Aluminum Prices, Copper Output and a Resurgent Chinese Jewelry Market

For the buyers and category managers out there, especially those of you deep in the weeds of buying and managing commodities, here’s a quick rundown of news and thoughts from particular commodity markets. From price movements to policy decisions, our MetalMiner editors scour the landscape for what mattered this week.

Supply Management Compensation Rose Last Year, But Not For Top Earners

salary

Salaries and overall compensation for supply management professionals not only increased in 2017 but also rose at a higher rate compared with salary growth for professionals overall. According to the Institute for Supply Management (ISM)’s recently released salary survey, now in its 13th year, the average overall compensation for supply management professionals in 2017 was a respectable $117,425. This marks a 1.7% increase from the average overall compensation in 2016, which was $115,440.

How Can Retailers Use Blockchain? New Deloitte Report Outlines 16 Use Cases

Last year, the value of the global counterfeit goods market was estimated to exceed $450 billion, an issue that blockchain solution providers such as Everledger and Blockverify have begun to tackle. The retail and consumer packaged goods industries particularly stand to benefit from implementing blockchain, a new Deloitte report argues. Blockchain would be able to tackle a number of supply chain challenges that these two industries face, from traceability and compliance to stakeholder management and flexibility in the face of risks and unexpected events.

Majority of CEOs Agree That Sustainability Holds Value to Businesses, Yet Few Are Measuring ROI

CEOs increasingly agree that sustainability holds value to businesses, but quantifying that value remains a challenge. A slight majority of business professionals believe that sustainability drives both revenue and savings for their businesses, but only 30% measure the ROI of their sustainability initiatives. These are some of the findings from the Ethical Corporation’s fourth annual Responsible Business Trends report. This year, more than 1,500 global business professionals took part in the survey, the majority based in Europe and North America. 

‘Oh’ Shift: Tradeshift Raises a New $250 Million Warchest

funding

Before I left the office today, I wanted to call out a big event in the the procure-to-pay, marketplace and platform technology sectors. Tradeshift announced earlier this week it had raised $250 million in a funding round led by Goldman Sachs. Let me put that number in perspective: $250 million is a larger warchest than most mid-size tech companies come away with in a typical initial public offering (IPO). Tradeshift has come a long way.