Afternoon Coffee: Colonial Pipeline cyberattack disrupts major US fuel line; Peloton logistics issues are heightened by treadmill recall; Garden gnome shortage

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In today’s headlines, a ransomware cyberattack on the East Coast’s Colonial Pipeline over the weekend disrupted one of the biggest fuel lines in the US. In other news, many recent Peloton logistics issues have been heightened with the recall of its treadmills. Also, there is now a shortage in garden gnomes because of supply chain issues.. Afternoon Coffee brings you the latest in procurement and supply chain news.

The Sourcing Industry Group’s Procurement Technology Summit discusses diversity, sustainability and technology disruption in procurement

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Last week, the Sourcing Industry Group (SIG) hosted one of its Procurement Technology Summit virtual conferences that brings thousands of procurement practitioners together to share the latest ideas and understand the latest developments in the industry.

The three-day event featured keynote speakers addressing diversity and inclusion, more than 30 discussions, and many sessions with procurement practitioners and technology vendors covering topics like sustainability, contracting and technology disruption.

The summit marked the 60th event for SIG since its inception in 1991. Over 1,300 attendees joined from more than 60 countries, showcasing the global nature of procurement in today’s day and age. The summit focused on procurement technology transformation through the lens of a post-pandemic world.

One common theme was a call to action: “The time is now.” This can mean anything from deploying new technologies to implementing a new diversification strategy.

Amid the Covid disruption, procurement is having a moment in the spotlight, and practitioners were eager to find out more about the concepts and technology shaping the industry.

Here are some of the highlights of the SIG summit.

Business Intelligence to Transform Procurement