Afternoon Coffee: How Digital Supply Risk Management Will Look in 2025, Labor Department Withdraws IC Classification Guidance

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What do you think of when you imagine your procurement organization’s approach to risk management in 2025? According to a paper published Thursday by the Spend Matters analyst team, artificial intelligence, social media and mobile will play a bigger role than ever. Consider a world where Dun & Bradstreet-type ratings have been disrupted by democratized, aggregated and social inputs — one where LinkedIn is a critical source of supplier risk intelligence.

To learn more, download the free research report Digital Supply Risk Management in 2025: Three Radical Scenarios Built on Today’s Disruptive Technology Models today.

IC Misclassification

The Labor Department withdrew Wednesday its 2015 and 2016 informal guidance on joint employment and independent contractors, according to a press release. While the decision won't affect the overall legal landscape of IC misclassification, Independent Contractor Misclassification and Compliance, a legal blog, said it likely indicates a shift in enforcement emphasis from the federal agency to state labor departments.

Maersk Supply Chain Finance

Ocean carrier Maersk will offer trade financing to shippers in six states following a pilot program in other countries, American Shipper reports. The program will be available in New York, New Jersey, Georgia, Texas, South Carolina and Florida initially, and is already live in Singapore, India, the Netherlands and Spain.

Metals News 

And finally, a commodities update: Gold hit new highs on Tuesday but pulled back Wednesday, settling at $1,293.20 a troy ounce on the Comex division of the New York Mercantile Exchange, the Wall Street Journal reports. Meanwhile, copper prices edged lower and could close at a three-week low, the report said.

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