Afternoon Coffee: Ivalua Now Kicks Off, Tesla Inks Lithium Deal From Plant That Doesn’t Exist Yet

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Spend Matters analysts are on the ground this week at Ivalua’s customer event in New York City. We kicked off our coverage earlier Thursday with two reviews of the keynote presentations. First up, Spend Matters Founder and Managing Director Jason Busch has a dispatch on “collabs” between brands and what procurement can learn from the practice. Lead Analyst and Futurist Michael Lamoureux followed with an entry on Ivalua’s 2017 performance, which to him proved how technology providers don’t need to become megacorps to succeed.

Tesla Lithium Deal 

Manufacturers are scrambling to secure supplies of lithium as electric batteries become increasingly important to the future of the automotive industry. So much so, in fact, that identifying and striking multiyear deals for lithium sources has become essential to forward-thinking procurement organizations. Case in point: Tesla recently struck a lithium hydroxide supply deal with a junior Australian miner that won’t start production until next decade, Bloomberg reports.

Japan Tariffs

While other countries have secured exemptions from the Trump administration’s Section 232 steel and aluminum tariffs, Japan was the only U.S. ally not to receive such a designation. Now the country is considering retaliatory tariffs worth $409 million on U.S. exports, CNBC reports.

Industrial Production

And finally, an economic update: U.S. industrial production rose 0.7% in April, the Wall Street Journal reports, the third straight month of higher production. Production has risen 3.5% over the past year.

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