Afternoon Coffee: Procurement Continues to Struggle with Innovation, PRO Unlimited Recapitalized

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Procurement organizations are still fighting the tendency to favor short-term cost savings goals over long-term thinking, according to a new report from APS Group. Buy-in from management was one factor procurement cited as a factor that bucked this trend, however.

PRO Unlimited Recapitalized

Harvest Partners and Investcorp announced recently the recapitalization of PRO Unlimited, reinvesting in the Company to take a minority stake in a new capital structure. Financial terms of the deal were not disclosed, according to a press release.

“We are excited to work closely with Harvest Partners as this new partnership will allow us to continue executing against our growth trajectory,” said Andrew Schultz, founder and chief executive officer of PRO Unlimited. “Investcorp has been a valuable strategic and financial partner, providing us with the platform to expand our software and solutions globally, and we are pleased that they will remain involved as we enter this new phase of the business.”

Don’t Source, 3-D Print!

McLaren plans to start 3D-printing parts for its Formula 1 cars trackside at Grand Prix competitions, SupplyChain 24/7 reports. A four-year partnership with Stratasys will supply McLaren Racing with a suite of 3-D printing and additive manufacturing solutions.


And finally, a forex update: President Trump said his administration will not label China as a currency manipulator, despite his vows to do so on the campaign trail. As the Wall Street Journal reports, Trump also said the dollar is getting “too strong” and that he would prefer for the Federal Reserve to keep interest rates low for the time being.

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