Afternoon Coffee: Jaggaer Announces Panther Release 18.1, Volkswagen Cancels Contracts with Prevent Group

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Suite provider Jaggaer announced Tuesday its latest product release, Panther 18.1. According to a press release, the updates include expanded support for collaborative contract negotiation; added capability for receipt-based invoicing; and new tools for project management.

“Jaggaer works closely with our customers to deliver the tools they need to support high-performing procurement teams,” said Robert Bonavito, CEO of Jaggaer. “Modern procurement teams cannot be satisfied with business as usual; to provide their organizations with a competitive advantage, they need tools that support them in their innovation journey.”

Volkswagen Supplier Dispute 

Following a series of supply problems affecting production in Brazil between 2015 and 2016, Volkswagen announced Tuesday it had “cancelled the majority of its contracts with parts and material supplier Prevent Group,” according to Automotive Logistics. The supply disruption behind the dispute incurred 160 days of production stoppage, resulting in a loss in output of 140,000 vehicles between March 2015 and August 2016.

IMF Fears Collapse 

The embrace of protectionism is putting the global trading system at risk of falling apart, International Monetary Fund (IMF) Managing Director Christine Lagarde warned during a speech Wednesday. As CNBC reports, Lagarde’s sense of urgency stemmed from mounting fears of a trade war between the U.S. and China, with tit-for-tat tariff escalating quickly over the past several weeks.

Wholesale Prices 

And finally, an economic update: The product price index rose a seasonally adjusted 0.3% in March, the Wall Street Journal reports, more than the 0.1% economists expected. The rise in business prices may indicate that inflation pressures are building in the economy.

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