Afternoon Coffee: Supply chain disruptions converge on global economy; UK government exploring ‘Britcoin’ digital currency; US reaches coronavirus vaccination milestone

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In today’s headlines, all the recent supply chain disruptions have converged on global economic recovery, with effects likely lasting for months. In other news, the British government is exploring options for a digital currency, which it’s terming “Britcoin.” Also, the United States has expanded eligibility for coronavirus vaccines to all adults age 16+ as it reported that half of all Americans have received at least one dose of the vaccine. Afternoon Coffee brings you the latest in procurement and supply chain news.

Spend Friends podcast: Supply chains need offense and defense to monitor risk, CEO Gary Lynch says

Spend Matters and CIPS

Offense and defense aren’t just terms relevant to sports. Business organizations are also looking for strong offense and defense in their supply chains, according to Gary S. Lynch, the CEO and Founder of The Risk Project.

Although this type of offense and defense is related to cost and value rather than a baseball situation, like the number of runners on base. This shift in mindset is one example of the ways organizations have placed a higher priority on supply chain risk management in the last year or so, Lynch said.

Last week, Lynch was a guest on Spend Friends, a monthly video podcast hosted by Bill Michels, the VP of Operations — Americas at the Chartered Institute of Procurement and Supply (CIPS) USA, and Pierre Mitchell, Spend Matters’ Chief Research Officer. Its goal is to focus on all procurement matters under the sun, like spend management, supply chains and other topics. Lynch joined to discuss supply chain risk management.

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