Afternoon Coffee: Jaggaer Launches Annual SRM Benchmark Survey, South Korea Mulls Ban on Cryptocurrency Trading

Jaggaer announced Thursday it had opened its annual buyer survey, SRM Maturity Check: Benchmark 2018, according to a press release. The survey covers current processes and practices in supplier relationship management and provides benchmarking results in return for participation.

“The objective of the survey is to identify the current state of SRM, establish benchmarks, and uncover new potential for SRM,” said Robert Bonavito, CEO of Jaggaer. “The 2017 SRM Maturity Check results provided significant insight into the state of digitalization and revealed that companies across all industries have a lot of catching up to do – 57% reported operating without appropriate technologies when collecting, managing, and analyzing supplier data. For 2018, Jaggaer will further explore current SRM processes and practices, and will identify which industries are setting a real benchmark.”

Crypto Ban

South Korea is considering a law that would ban the trade of bitcoin and other cryptocurrencies on local exchanges, the BBC reports. The country has become a hotbed for trading virtual currencies, and government regulators are keen to prevent inexperienced investors from the dangers of this volatile asset.

Global Economy

World Bank economists said in a report this week that for the first time in a decade the global economy is operating at full capacity, according to the Wall Street Journal. Key to this observation is the expected closing in 2018 of the output gap, the difference between the economy’s actual performance and its potential.

Oil Prices

And finally, an energy update: oil prices jumped to their highest level since 2014 on Thursday, Reuters reports, driven mostly by steep declines in US crude oil inventories.

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