Afternoon Coffee: Gartner Reports SCM Software Market Grew 10.8% in 2014, Target Warns Processed Food Suppliers of New Promotional Plan

A new Gartner report shows the global supply chain management (SCM) and procurement software market grew 10.8% in 2014, bringing in $9.98 billion in revenues. Specifically, cloud-based SCM software sales jumped 17% last year, with SAP growing its share in the market by nearly 2%.

Target said it will spend more money promoting fresher, healthier food products it sells over processed products from companies like Kraft, Campbell and Kellogg Co. Target reportedly informed these suppliers of its plan earlier this year.

Heads up to business travelers: this summer is expected to be the busiest in US air travel, with 222 million people taking plane trips between June and August.

Goldman Sachs predicts oil prices will stay low for the remainder of the decade. A new report shows the investment management firm expects West Texas Intermediate oil prices to reach a high of just $60 a barrel between 2016 and 2018.

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