Afternoon Coffee Content

Afternoon Coffee: Ford Motor’s Explorer causes financial headaches; Asia-Pacific business leaders cite global recession as top concern

A J.P. Morgan survey says the worldwide recession tops the list of concerns for Asia-Pacific business decision-makers, followed by the effects of trade tariffs in the next six to 12 months. Ford Motor Co.'s quarterly revenue fell 2% to $36.99 billion — and profits were down 60% — mainly due to restructuring costs and drops in overall U.S and China sales numbers, but “partly because the company bungled the launch of the new Ford Explorer SUV,” according to the AP. And Boeing announced it will slow down production of its 787 aircraft, citing weaker demand from China. Afternoon Coffee: your source for procurement and supply chain news.

Afternoon Coffee: Deloitte launches CPO survey; How to win the war for contractor talent in manufacturing (free webinar); Fairmarkit raises $11M

Deloitte, in association with (and with input from) Spend Matters, released their annual CPO report today, titled "Global Chief Procurement Officer Survey 2019." MetalMiner’s executive editor and Azul Partners CEO Lisa Reisman will walk through how companies can (and should) address the talent gap, on a free webinar tomorrow, Thursday October 24 at 11 am CT / 12 pm ET, titled “The War For Contractor Talent: How Manufacturers Can Find the Workers They Need (and Fast).” And tail spend management software solution provider Fairmarkit announced it has raised $11 million in Series A round funding, to be used in part to expand its product suite offerings. Afternoon Coffee: your source for procurement and supply chain news.

Afternoon Coffee: Walmart enters unique wind power deal; Basware reports earnings; VMS solution shopping? ICYMI, we can help

ENGIE US Wind has announced that it would continue to service Walmart’s renewable energy needs via an "innovative agreement." Basware, the Finnish suite provider, reported its total revenue increased 8.3% from July to September 2019 over the same period last year, according to an earnings release today. Avetta, the supply chain risk management solution provider, named Arshad Matin its new CEO. And ICYMI, Andrew Karpie's analysis of today's VMS solution landscape is a must-read for those practitioners currently in the market for a new VMS. Afternoon Coffee: your source for procurement and supply chain news.

Afternoon Coffee: Oil price declines due to trade war; Oracle’s Mark Hurd dies; Mack Truck workers strike

The trade war and oversupply are the two main drivers of the recent decline in oil prices. Former Oracle CEO Mark Hurd has died at 62 after taking a medical leave of absence a month ago. And talks between representatives of 3,500 hourly workers and the management of the AB Volvo-owned Mack Truck will resume on Monday after workers went on strike for the first time in 35 years. Afternoon Coffee: your source for procurement and supply chain news.

Afternoon Coffee: U.S. factory output falls; LevaData, IBM announce DirectSpend IQ; Science Exchange gets new funding

Science Exchange, a leading SaaS-enabled marketplace, sourcing and management solution for outsourced research and development (R&D), has raised an additional $20 million in equity and debt financing. LevaData and IBM partnered to launch a new offering called DirectSpend IQ, which “brings together IBM's expert managed services with LevaData’s Cognitive Sourcing Platform to deliver insights and recommendations for direct procurement cost savings opportunities and process transformation." And due to the GM strike among other factors, U.S. factory output has suffered. Afternoon Coffee: here's to a Happy Friday of procurement and supply chain news.

Afternoon Coffee: Tradeshift, Abreon partner up; Walmart wants U.S. suppliers; GM, UAW reach a deal; EU, UK do too – finally! (But will it pass?)

General Motors and the United Auto Workers reached a tentative deal yesterday, setting the stage for a decision today on whether the strike will continue. P2P solution provider Tradeshift “has announced a partnership with Abreon, a leading change management consultancy, to provide clients with the tools they need to embrace technology adoption and foster success through growth initiatives." Walmart has begun a database to which U.S. suppliers may submit their info to be considered by Walmart’s sourcing and buying teams. And Purchasing Platform, a provider of spend management and analytics software solutions, just announced raising $3.5 million in Series A funding. Afternoon Coffee: your source for procurement and supply chain news.

Afternoon Coffee: Jaggaer’s new CEO and what it means for the procurement tech market; GM strike disrupts auto supply chain; U.K. releases import/export guidance ahead of Brexit

In an executive management shakeup, Jaggaer today announced that it has a new CEO, effective immediately, and that the company created the new position of chief operations officer. As the General Motors strike in North America gets into its second month, it has nearly paralyzed a major chunk of the automotive supply chain. And the U.K. government is putting trade safeguards in place, hoping to mitigate the risks that impending Brexit poses. Afternoon Coffee: your source for procurement and supply chain news.

Afternoon Coffee: A new SolutionMap analysis of VMS software providers; Tesla’s Powerwall batteries to hit Japan’s market

Today Spend Matters published a “roll-up” view and analysis of software providers currently participating in SolutionMap that offer vendor management system (VMS) solutions, using SolutionMap scoring data to give an up-to-date perspective of the VMS landscape. Starting next spring, Tesla will start installing the 13.5 kWh Powerwall home power storage batteries in Japan. And Expanse, the net ops management company that counts the U.S. Department of Defense as one of its clients, today said it had launched Expanse Link, a product that helps identify and manage strategic suppliers' Internet assets and risks. Afternoon Coffee: your source for procurement and supply chain news.

Afternoon Coffee: RigUp raises $300M in latest funding round; Trump tariff call-off continues supply chain uncertainty

Online marketplace RigUp, which refers to itself as “the energy industry’s largest marketplace for on-demand services and skilled labor,” has announced a $300 million Series D round led by Andreessen Horowitz (a16z). The Consumer Technology Association (CTA) has called the logic behind President Donald Trump’s trade strategy with China akin to taking “one step forward, two steps back." And women are increasingly joining the truck driving workforce, according to the WSJ. Afternoon Coffee: your source for procurement and supply chain news.

Afternoon Coffee: SAP’s chief steps down; FAA didn’t properly review 737 MAX jet, regulators say; SpaceX, 7 competitors get contract

SAP announced that its CEO, Bill McDermott, is stepping down after more than nine years running the business software company, and Spend Matters' Pierre Mitchell weighs in with what it means for SAP. In other news, a committee looking at the 737 MAX issues says that the FAA didn't properly vet the aircraft and that Boeing should upgrade its processes. Also, the Air Force looks to space in awarding a different kind of contract. Afternoon Coffee brings you the latest in procurement and supply chain news.

Afternoon Coffee: One CFO in (Field Nation), one CFO out (U.S. Steel); IBM looks to smarten supply chains; China trade talks resume today

Top U.S. and Chinese negotiators are set to meet today for the first time since late July to try to work out a path forward from a 15-month trade war between the two nations. Jason Woods has been named CFO of Field Nation, a provider of workforce management solutions, after having served in that role recently for SAP Concur. A new product, IBM Sterling Supply Chain Suite, tries to take out the complexity from global supply chains and make them smarter and more efficient. And U.S. Steel's CFO is resigning, amidst the company getting set to bring in a new operating model to cut costs. Afternoon Coffee: your source for procurement and supply chain news.

Afternoon Coffee: ‘Transforming Direct Procurement’ webinar tomorrow; Oil & gas pipelines hit legal roadblocks

Don’t miss a free webinar tomorrow, Thursday, October 10 at 9:00 CT / 10:00 am ET in which experts from GEP and Spend Matters assess the current state of direct procurement and discuss the new opportunities afforded to it by digital transformation. Three energy projects fast-tracked by the Trump administration are now stalled because of successful legal challenges by environmental groups. And Exostar has announced an agreement with Fujitsu Limited to secure the controlled unclassified information (CUI) exchanged by companies throughout the U.S. Department of Defense’s global supply chain. Afternoon Coffee: your source for procurement and supply chain news.