Author Archives: Alex Behrens



Norway tops annual FM Global Resilience Index of 130 nations’ business climates

Global Risk Management Solutions (GRMS)

The mutual insurance firm FM Global this week released its 2019 Resilience Index, examining economic indicators, risk factors and supply chain issues in 130 countries around the world — ranking the nations by the resilience of their business environments. The index is meant to be a tool for senior executives to conduct “vulnerability assessments and build their companies’ resilience around the world,” according to FM Global, which focuses on property loss issues. Norway topped the list, and Haiti came in last. Read on to find out about the U.S., China and Russia.

Certify’s SpendSmart Report Sees Uber Slip, Lyft Gain — and Air Travel Be More Competitive Than Ever

travel

Uber and Lyft continue to capture an increasing share of employee travel and expense costs as measured by the Q1 2019 SpendSmart Report from Certify. In addition to continuing to decimate taxi services in all but a few protected markets, both services have continued to increase their prices since the first quarter of 2018, with Lyft experiencing double digit growth in some key markets.

How to Get Independent Professionals into Your Company’s Contingent Workforce Plan

In a look at the contingent workforce, MBO Partners' “Client of Choice Report 2019” explores the changing needs and expectations of the independent professionals and what corporations are doing to attract and retain the best talent in this emerging labor market.

Third-Party Market Intelligence Can Supercharge Procurement

Global Risk Management Solutions (GRMS)

Timely, accurate data has become more important than ever across every part of the business, and purchasing departments are no different.

When making procurement decisions, however, it can be especially difficult to source data that is often heavily related to factors external to the business, including the state and quality of suppliers and sub-suppliers and prices for materials that can change in response to competitors negotiating new contracts, geopolitical factors, and even natural or manmade disasters. But what’s the best way for your department to get in front of these challenges and opportunities while increasing credibility and buy-in from internal and external stakeholders alike?

A recent report from ProcurementIQ offers some insights on third-party market intelligence.

Resilinc EventWatch: Top Risks to Supply Chains in 2018 Were Extreme Weather, M&A Activity, Brexit and Explosions

With deadline questions looming about Brexit and high levels of uncertainty about U.S.-China trade negotiations still hanging over global markets, risks to supply chains may already seem well above average. As reported by Resilinc’s EventWatch 2018 annual report, however, some of the greatest risks to supply chain operation may be something that stakeholders don’t realize.

10 Business Intelligence Trends: From Analytics Adoption to Explainable AI and Converging BI Platforms

“Business intelligence” has been a staple of an effective corporate entity long before computers appeared on the scene, but leaps in computing power, cloud storage and advances in data processing and visualization have allowed businesses to use their resources vastly more effectively. The advances in business intelligence (BI) also make it accessible to hundreds or thousands of workers throughout the business, instead of just a few dozen data scientists using specialized skills and software. Against that backdrop, Tableau outlines 10 BI developments to watch in its 2019 Business Intelligence Trends report.

Growing Customer Expectations: Will Digital Supply Chains Save The Day?

E-commerce and the rapidly growing digital supply chain capabilities of brick-and-mortar and online retailers have made a massive impact on customer preferences and expectations while shopping, according to the Deloitte report “The Customer-Driven Supply Chain.” Today, customers expect integrated systems that allow them to check stock across multiple retail outlets, that guarantee curbside pickup or two-day delivery, with customization options in person or online — all with complete accuracy and available in real time. Digital transformation drives these changes in consumer preferences while providing the means to accommodate a customer-centric shopping experience at the supply chain level, but with just 8% of supply chain executives responding that their organizations are prepared for such a comprehensive system, are these customer dreams a supply chain nightmare for retailers and manufacturers alike?

Supply Chain Finance Gets Faster, Cheaper with Technology Like Blockchain, IoT

Supply chain finance (SCF) has become increasingly common over the last decade, building off advances in technology in industrial monitoring and information sharing brought about by the proliferation of IoT and blockchain technology. As technology to facilitate supply chain finance proliferates at all levels, marginal gains become increasingly important.

Blockchain Update: The Power of Pairing It with IoT and Wider Adoption by NASA, Ford

Blockchain technology — with its shared, distributed ledger that allows users to collaborate and verify transactions — has companies searching for ways to deploy it in their supply chains and save money. Looking into the latest developments, it appears that blockchain holds a good amount of potential when paired with the internet of things (IoT), the devices that will measure processes or be deployed remotely via the internet for business uses. NASA, Ford and others have different ideas for blockchain.

CSR Update: Corporate Social Responsibility Can Lead Customers to Spend More, Study Says

BuyerQuest

Consumers are hungry for more information of all kinds when it comes to corporate social responsibility practices, and many are willing to pay more to companies that can provide it, according to a report in the Manufacturing and Service Operations Management Journal. The study, "Supply Chain Visibility and Social Responsibility: Investigating Consumers’ Behaviors and Motives," identified a strong preference among at least 70% of consumers for advertisements with more precise information about corporate social responsibility (CSR) activities compared to ones with vague information if the price did not change.

Maverick Spend Has a Perception Problem — on Its Causes and Its Solutions

Many of the most effective ways to curb maverick spend — like using e-procurement tools with approved supplier catalogs or better contract management tools integrated into the buying process — still have not been implemented by more than half of most organizations, a survey by The Hackett Group found. And it found that perceptions of the causes and solutions for maverick spend can vary depending on a worker’s role.

Procure-to-pay technology provider Basware used the research for its study, “Perception and Reality: A Report on Maverick Spend,” which examined the practice of making purchases outside the compliant procurement process. Maverick spending can take many forms, including purchases made outside a preferred channel or supplier, or those that do not follow contract terms and miss out on negotiated savings. Some of the rogue purchases happen because employees or their managers consider the transaction to be too small to matter.