Spend Matters welcomes this guest post from Helen Sabell, of the College for Adult Learning.
An outstanding supply chain professional will shape the function of a business. A pioneer of the supply chain will do that and more, driving real change in the wider industry. Logistics and supply chain is a rapidly growing sector that must be led by innovative thinkers in order to compete with international advancements.
Supply chain managers in the U.S. and Canada have been warned of possible “ransomware” attacks that could lead to supply chain disruptions. The attacks involve hackers stealing company data until they are paid a ransom. And, consumer spending rose less than expected in March, increasing just 0.1%, the Commerce Department reported. Afternoon Coffee brings you the latest in procurement and supply chain news.more ▸
The U.S. federal government spent over 25% of its contracting dollars in fiscal year 2015 with small businesses, giving the government a grade of “A” on the Small Business Administration’s Small Business Procurement Scorecard. The SBA released the scorecard earlier this week, showing the federal government surpassed its goal of having 23% of prime contracting procurement dollars go toward small businesses. In all, the government spent $90.7 billion during 2015 on contracts with small businesses, or 25.75% of its contracting dollars.more ▸
U.S. gross domestic product increased 0.5% in the first quarter of the year, the Bureau of Economic Analysis reported today. The subdued growth in GDP reflected a dip in consumer spending and business investment as well as a deceleration in government spending. U.S. consumer confidence has more recently improved, however. The Bloomberg Consumer Comfort Index grew in the last week to 43.4 as consumers felt more optimistic about their finances and look to buy goods and services in the near future. Afternoon Coffee brings you the latest in procurement and supply chain news.more ▸
Companies are increasingly using cost reductions to fund growth initiatives, according to Deloitte’s 2016 Cost Survey Report, a biennial survey looking at cost management and cost improvement trends among U.S.-based Fortune 1000 companies. Of the 210 senior executives surveyed for this year’s report, 57% identified gaining a competitive advantage over competitors and 43% pointed to investment in growth areas as the top drivers of cost reduction.more ▸
Afternoon Coffee: Apple Quarterly Results Impact Suppliers, US Steel Files Complaint Against Chinese Steel Producers
Apple suppliers took a hit this week after the tech giant reported lackluster quarterly results and announced it would cut inventory by $2 billion. For example, shares of suppliers Skyworks Solutions and NXP Semiconductors fell more than 5% and 2%, respectively, on Tuesday. And, U.S. Steel filed a complaint against Chinese steel producers, saying they conspired on fixed prices, stole trade secrets and skirted duties on imports in the U.S. by using false labeling. Afternoon Coffee brings you the latest in procurement and supply chain news.more ▸
Afternoon Coffee: US Service Sector Grows Slightly in April, Execs Optimistic About 2016 M&A Activity
The U.S. service sector saw only modest growth in April, with the Markit Flash U.S. Services PMI Business Activity Index increasing to 52.1 compared to the 51.3 in March. “Subdued” client demand and less than ideal economic conditions reportedly contributed to the weaker growth. And, EY's new Global Capital Confidence Barometer showed 57% of companies that responded to a survey said they are planning to pursue an acquisition over the next year, and about 48% are planning to develop alliances with competitors or industry peers to achieve growth. Afternoon Coffee brings you the latest in procurement and supply chain news.more ▸
The mosquito-spread Zika virus, which leads to birth defects in babies, has infected about 388 people in the Unites States and many more in South America, where the current outbreak is largely focused. Additionally, an estimated 2.2 billion people around the globe are at risk of contracting the virus, as they live in places where the mosquitos passing the virus can survive. But the Zika virus is more than a public health emergency — it’s a potential risk for businesses and their supply chains.more ▸
Spend Matters welcomes this guest post from Emma Jayne Smith, market analyst at Mintec.
Prices for U.S. lobster meat have climbed to a 15-year high in April, and are up 48% year-over-year. The main reason behind this dramatic rise in the past 12 months has been high demand for lobster products in U.S. food service and retail.
Afternoon Coffee: 80,000 Toyota Cars Impacted by Japan Earthquakes, Target Tests New Food Transparency Sell Tactic
Toyota estimates a loss of 80,000 cars from the shutdowns in production in Japan following the recent earthquakes. Hiroji Onishi, Toyota’s senior managing officer for China, said the carmaker is not sure when or if it will be able to recoup that lost output. And,Target is testing a new way to sell food by providing customers with a high level of transparency into the produce they buy. Afternoon Coffee brings you the latest in procurement and supply chain news.more ▸
Uber will continue classifying its drivers as independent contractors, not employees, as part of settlements in two class action lawsuits brought against the company in California and Massachusetts. Uber will pay as much as $100 million to drivers in the case as part of the settlement. And, the flash manufacturing purchasing managers index (PMI) fell in April to its lowest level in six-and-a-half years. The index reached 50.8 in April, down from 51.5 in March. Afternoon Coffee brings you the latest in procurement and supply chain news.more ▸
A new survey by Toptal, a work intermediation platform and network of freelance software engineers and designers, offers some insight into a specific segment of online freelancers: software developers and designers. The “2016 Freelancer Lifestyle” survey shows the growing number of contract workers enjoy the flexibility freelancing offers and do not miss working in a traditional office environment.more ▸