Author Archives: Nick Heinzmann



The 3 Contract Management Concepts that Will Enable Digital Transformation

As we explored in the first part of this series, a successful digital transformation is defined by certain characteristics. These characteristics touch the core processes of the business, which means that driving a digital transformation requires changing the core systems of commerce as well. And there’s no better way to start reforming core business processes than taking a digital approach to managing your contracts. With the strategy clear, the next step to enabling digital transformation is to understand the key aspects of a digital contract lifecycle management (CLM)system. Knowing these three key concepts will get you up to speed, and putting them to work will create the business and technical foundations you need for a successful digital transformation.

3 Essential Factors to Facilitating Supply Chain Finance Adoption With Suppliers

finance

As general awareness about dynamic discounting and supply chain finance grows among practitioners, procurement groups are increasingly pushing their technology providers to offer early payment capabilities. These organizations are primarily seeking to strengthen their supply base, relieving the DPO stretch that has plagued small suppliers as of late while also improving their own working capital.

But while enthusiasm for such programs has grown with buying organizations and their technology providers, suppliers have been the reluctant missing piece to the early payment puzzle. To encourage the full spectrum of suppliers to fully adopt early payment, the parties offering these programs must team up explain the benefits in the supplier’s language, providing a seamless, flexible and fast experience that creates win-win scenarios for everyone involved.

Afternoon Coffee: Tech Companies Eye Taiwan Amid U.S.-China Tensions, IEA Warns of Oil Supply Gap

Taiwan stands to benefit from flaring tensions between the U.S. and China, as U.S. technology companies consider the country as an alternative hub for production and research. The International Energy Agency said Wednesday that sanctions and economic upheaval could create a 30% oil supply gap. Afternoon Coffee brings you the latest in procurement and supply chain news.

Afternoon Coffee: Mars Moves to Improve Vanilla Supply Chain, OPEC Eyes Production Increase

Mars has dispatched a team to help restore vanilla production in Madagascar, the world’s largest exporter of the ingredient. Rallying oil prices will likely persuade OPEC members to agree to a production increase, ending the supply curbs that began 18 months ago. Afternoon Coffee brings you the latest in procurement and supply chain news.

Afternoon Coffee: BLS Releases Contingent Workforce Supplement, Foxconn Investigating Labor Conditions at Amazon-Contracted Plant

The Bureau of Labor Statistics (BLS) released Thursday its long-awaited 2017 Contingent Workforce Supplement, which has not been published since 2005. Foxconn is investigating a plant in China that makes Amazon Echo dots and Kindle e-readers for accusations of harsh working conditions. Afternoon Coffee brings you the latest in procurement and supply chain news.

Afternoon Coffee: ZTE Secures Lifeline, Mexican Steelmakers Suspend Exports to U.S.

Chinese phone manufacturer ZTE pulled back from the brink Thursday after the Trump administration cut a deal in exchange for lifting a ban on doing business with U.S. suppliers. Mexican steelmakers and suppliers have suspended exports to the U.S. and will discontinue negotiations with American buyers in response to the Trump administration’s steel and aluminum tariffs. Afternoon Coffee brings you the latest in procurement and supply chain news.

Afternoon Coffee: East and Gulf Coast Dockworkers Reach Tentative Labor Agreement, Brazil Supply Chains Could Take Weeks to Normalize Following Roadblocks

Transportation managers are breathing a sigh of relief Thursday as dockworkers at U.S. East and Gulf Coast seaports reached a tentative six-year contract agreement with the port operators. The logistics situation in Brazil, however, is less positive. Following highway shutdowns by more than 600,000 truckers protesting against rising fuel costs, Lloyd’s Loading List reports it will take weeks for supply chain operations in the country to normalize. Afternoon Coffee brings you the latest in procurement and supply chain news.

Afternoon Coffee: UPS Freight Members Authorize Potential Strike, Wendy’s Shifts Tomato Production Back to U.S. from Mexico

The International Brotherhood of Teamsters announced late Tuesday that 91% of UPS Freight employees have agreed to a measure that authorizes a strike should current contract negotiations fail to address workers’ concerns. Responding to customer preferences for fresher produce, Wendy’s is shifting tomato production from Mexican fields to the vine-ripened variety grown in greenhouses. Afternoon Coffee brings you the latest in procurement and supply chain news.

Afternoon Coffee: Trumps Hints at Separate Trade Deals with Canada and Mexico, Uber’s Fleet Mode Targets Small Trucking Fleets

With a renegotiation of the North American Free Trade Agreement by the end of this year off the table, President Trump has signaled that he now would prefer to negotiate separate bilateral deals with Canada and Mexico rather than continue a three-country discussion. Uber Freight has announced a new offering that provides motor carriers with multiple trucks to more efficiently manage operations and increase productivity. Afternoon Coffee brings you the latest in procurement and supply chain news.

Afternoon Coffee: U.S. Allies Retaliate on Tariff Move, Tradeshift Hits ‘Unicorn’ Valuation

After the U.S. followed through Friday with threatened tariffs on imports of steel and aluminum from Canada, Mexico and the European Union, the three U.S. allies said they will respond with punitive tariffs of their own. Procure-to-pay provider Tradeshift has raised an additional $250 million during a funding round led by Goldman Sachs and PSP Investments, bringing the company’s valuation to $1.1 billion. Afternoon Coffee brings you the latest in procurement and supply chain news.

Top Providers to Know and Watch, Conference Mania and More: May Highlights on Spend Matters

There is perhaps not a busier month in the world of procurement than May. With the annual ISM conference and a host of other events taking place during the fifth month of the year, practitioners have come to expect a deluge of new developments. (Remember the sunsetting of IBM Emptoris last May, anyone?) Here at Spend Matters, we hope to help practitioners make sense of it all, as well as shine a light on the key trends we see as the procurement space continues to evolve. With that in mind, here are some highlights from our most-read articles in May.