Spend Matters conducted this interview with Craig Reed, global director for raw materials, energy and packaging at DuPont, during the Global Procurement Tech Summit. We thought practitioners would benefit from reading how a procurement leader at a Fortune 500 firm approaches his work. In this Q&A, Reed discusses the biggest challenges he faces in his role, hurdles to technology adoption and how his procurement group aligns itself with the rest of the business.more ▸
Spend Matters welcomes this guest post from Verity Michie, data analyst at Mintec.
Lumber prices in the U.S. are on an overall upward trend for the first time since H2 2013. Prices have increased 32% since the beginning of the year, reaching highs last seen in December 2014. The situation has been helped by increased demand from the housing and construction sectors.
Nearly two-thirds of the companies that filed conflict mineral reports with the U.S. Securities and Exchange Commission this year did not disclose the country of origin for the tin, tantalum, tungsten and gold (3TG) in their supply chains. According to a new analysis of the 1,216 conflict mineral reports filed for 2015, just 33% of companies identified whether these minerals were sourced from conflict zones in Africa.more ▸
As adults, many of us tend to obsess (without admitting to it) over specific social applications in our personal and business networking life. And we get worked up over those that our kids use for nefarious purposes (or to make fun of us as parents). Yet when it comes to procurement specifically, I’m not yet sure whether “social” will take the form of separate applications or simply become part of the fabric of the procurement suites and standalone tools we’re used to using already.more ▸
Supply chain and procurement organizations: Want to attract millennials to your team? Worry not so much about salaries and benefits. It’s flexible hours, a solid work-life balance and a job that allows them to advance their career that young professionals most desire. That’s according to a recent survey of 13,000 people aged 15 to 32, conducted by the National Society of High School Scholars.more ▸
Independent Contractors Just Won’t Go Away: New Arizona Laws Attempt to Clarify this Tricky Business
In Arizona, new laws on employment relationships and independent contractors have recently been passed, an article in The National Law Review reports. Until recently, the emphasis by governmental entities (e.g., NLRB, DOL, IRS, States, et al) has been almost exclusively on enforcement, while civil suits have increased in the context of the “gig economy.” Whether these new law will really have prophylactic benefit for businesses and contractors in Arizona remains to be seen. At the very least, however, these Arizona laws seem to be another signal, in a lot of noise, that policy makers and other interested parties are beginning to grapple with this sticky wicket of worker classification.more ▸
Spend Matters welcomes this guest post from Emma Jayne Smith, market analyst at Mintec.
U.S. mahi mahi prices reached a four-year high in July, up 41% month-over-month and up 24% year-over-year, driven by lower catches from South America. Mahi mahi, meaning “strong strong” in Hawaiian, is a fish growing in popularity in U.S. restaurants, with its sweet-mild taste. They are also known as dorado in Latin America and dolphinfish in the U.S., despite not looking like dolphins as they are slimmer with an iridescent green, blue, yellow and orange color. They are an ocean fish and are sold and traded as both freshly caught and frozen.
More suppliers are responding to information requests regarding conflict mineral sourcing as organizations aim to gain visibility into their supply chain and ensure no tin, tungsten or tantalum is being sourced from conflict zones in the Democratic Republic of the Congo. A new analysis of more than 1,200 U.S. Securities and Exchange Commission filings from 2015 related to conflict minerals reporting shows supplier response rates increased compared with a year earlier.more ▸
Supply chain organizations are increasingly leveraging the internet of things (IoT) to improve operations and improve customer service. A recent survey of 600 supply chain decision-makers shows a majority of organizations either have or plan to have an IoT strategy in place. The survey was conducted by eft, a business intelligence company service the logistics and supply chain industry. Of the supply chain managers surveyed, 60% worked for logistics providers and the remainder worked for manufacturers or retailers.more ▸
Improving and automating the supplier payment process remain top priorities for finance and accounts payable professionals in the year ahead, according to recent research. Tipalti, a provider of automatic supply payment solutions, released the results of its survey aimed at identifying the top supplier payment trends of 2016. It showed 44% of respondents identified streamlining and automating supplier payments as a top business goal for the next 12–18 months.more ▸
Business travelers can end up spending a lot of time filling out expense reports after returning from a business trip. Employees with more experience traveling and more knowledgeable about a company’s travel policies may be able to complete this task quicker than those who travel less frequently. Concur’s new State of Business Travel report details how different types of travelers — from the savvy business traveler to the cautious planner — complete expense reports and how long they take to do so.more ▸
Spend Matters welcomes this guest post from Liliana Minton, market analyst at Mintec.
Futures prices for frozen concentrate orange juice (FCOJ) on ICE New York have been bullish over the past two months and prices have risen 24% from the start of 2016.