Blockchain. Robotics. Internet of things. Big data. Peer-to-peer connectivity. These are some of the newest and most talked-about technologies that Spend Matters expects will prove disruptive to the spend analytics, sourcing, supplier management and contract lifecycle management markets. They are collectively referred to as strategic procurement technologies in The Impact of Disruptive Technologies and Solutions on Strategic Procurement Technologies (Analytics, Sourcing, Supplier and Contract Management), a new research paper from the Spend Matters analysts.
The VMSA Live conference will be kicking off in Phoenix, Arizona, on April 4 — and I am definitely here beating the drum as a big supporter. This will be my third year attending, and this time I will be a lead contributor in two sessions. Over those three years, I’ve seen number of attendees grow rapidly to an expected 400 this year, and I have seen the unique character of the event shape and solidify. In fact, I’d hesitate to call the event a conference — it’s more like a tribal gathering with many powwows where contingent workforce managers, technology and service providers and workforce suppliers can exchange practical knowledge and experience and learn from one another.
Did you know that according to the Bureau of Labor Statistics, millennials will comprise nearly 75% of the U.S. workforce by the year 2030? Yes, I’m talking about those tech-savvy, feedback-craving 20-somethings that have recently entered the workforce — myself being one of them! Even if the demographic shift hasn’t yet affected your company, I’m sure this doesn’t come as a surprise, considering how infatuated the media has been since the turn of the decade with millennials. The million-dollar question, however, is this: What are corporations doing to adapt to this change in workforce?
President Trump’s $1.1 trillion budget blueprint released Thursday proposes dramatic cuts to the State Department and the Environmental Protection Agency while seeking billions more for defense issues and $1.5 billion for the president’s proposed U.S.-Mexico border wall. Noted trade attorney Alan Price, of the Washington law firm Wiley Rein, said the World Trade Organization case that the federal government filed in January on behalf of aluminum producers will essentially serve as a guide for other industries looking to challenge state-subsidized companies’ overproduction for export in the People’s Republic. The Week in Metals brings you the latest procurement and supply chain news from our sister site MetalMiner.
Forrester’s Artificial Intelligence Report Spawns 10 Hot Technologies — For Procurement, Which Ones Matter Most?
We recently came across a Forbes piece that distilled the findings of a Forrester report on artificial intelligence into the 10 “hottest” AI technologies. As suckers for clickbait, as well as folks interested in the implications of AI for the procurement sector, we checked it out. ICYMI, here they are, according to Forbes contributor Gil Press, taken from Forrester’s TechRadar™: Artificial Intelligence Technologies, Q1 2017.
Many organizations are beginning to adopt new contingent workforce/services (CW/S) procurement solutions. Why now? In short, it’s because new underlying technologies are available to enable new solution approaches and organizations are compelled to make use of these technologies to address changes in talent supply, whether it’s skill shortages, generational shifts or changes in attitudes and behaviors.
Last Friday, Spend Matters Founder Jason Busch and Chief Research Officer Pierre Mitchell teamed up to present the webinar Risk and Compliance Management: Embedding Risk Management in Procurement and Supply Chain. Busch and Mitchell began with a segmentation of the types of supplier and supply chain risk and compliance management technologies out there, before moving into the topics of how to embed these technologies throughout your procurement and supply chain functions. They discussed the best ways to create linkages with other areas of procurement technologies, as well as how to create a procurement culture that is risk-aware.
Last month, I came across an article on Medium about Ivanka Trump’s fashion line and a group of six researchers’ attempt to unravel the supply chain behind the apparel. Sure, the fact that she is the daughter of President Donald Trump may have given the matter its newsworthiness — after all, plenty of celebrities lend their names to clothing lines — but I was curious whether Ivanka’s “women who work” platform extended to employees farther down the supply chain. Do women’s rights to, say, maternity leave, apply to the female factory worker sewing dresses in China or Indonesia — or just to the women buying those dresses?
Not only is the Trump administration asking for bids for its promised southern border wall, but the Department of Homeland Security has also added specifications to its request for proposals. The Dakota Access Pipeline can continue construction of the final eight miles of the project underneath Lake Oahe in North Dakota, a federal judge ruled this week. The Week in Metals brings you the latest in procurement and supply chain news from MetalMiner.
A recent good read on how data, algorithms and internal biases affect our lives caused me to wonder: what other books, while not nominally related to procurement, have pertinent takeaways? To find out, I asked around. Responses ranged from the rare oddity to the classics of the business canon, with suggestions from the Spend Matters team and practitioners alike. Welcome to the first meeting of the Spend Matters Book Club.
Consultancy Future Purchasing completed late last year the largest category management survey of its kind ever attempted (as far as we know). With more than 300 respondents from a range of sectors and countries, the results provide much fascinating material to help understand just what differentiates the best exponents of “CatMan” from the pack. And if you have any interest in the topic, as a category manager or a procurement leader looking to improve performance, or indeed as a less mature organization in the field, we are confident you will get something useful out of our upcoming webinar next Tuesday, March 14, at 11 a.m. EST.
In a related article last week, we tried to get (a little closer) to the bottom of the whole Mexico border tax issue. Although there are still two potential camps of “tax” — President Trump’s potential blanket tax on Mexican imports, and the broader Border Adjustment Tax (BAT) that comes from proposed Republican corporate tax reform — procurement organizations on both sides of the border have immediate concerns.