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Commodities Roundup: G20 Outcomes, Century Aluminum Expands and DRC Raises Cobalt Royalty Rate

Global Risk Management Solutions (GRMS)

For the buyers and category managers out there, especially those of you deep in the weeds of buying and managing commodities, here’s a quick rundown of news and thoughts from particular commodity markets. From price movements to policy decisions, we scour the landscape for what matters. This week we look at developments from the G20 summit, like the USMCA signing and the U.S.-China tariff truce; Century Aluminum expanding capacity; Rio Tinto's first bauxite haul in Australia; auto sales flagging and more.

T&E Benchmarks: How Does Your Company’s Technology Compare on Handling Travel & Expense Reporting?

Oversight Systems

Companies in the U.S. spend hundreds of billions of dollars annually on travel and entertainment — and a study from Certify Inc., an expense report software company, surveyed executives and finance leaders to get a snapshot of how many still use manual methods versus how many have upgraded their T&E management technology. In the study, officials note that travel and entertainment costs can be a significant part of companies’ budgets, which means efficiently managing employees’ expense reports can greatly affect a company’s profits. Since 2013, the “Expense Management Trends Report: Annual T&E Outlook and Benchmarks” by Certify has worked to help companies of various sizes recognize best practices to consider in travel and entertainment reporting and as methods to benchmark such companies’ current processes against their peers.

SolutionMap: 58 Procurement Software Companies Ranked (Q4 2018 Update)

Spend Matters today released its Q4 2018 SolutionMap, ranking 58 procurement software companies across 12 solution categories, including E-Procurement, Sourcing, Spend Analytics, Supplier Relationship Management and Contract Lifecycle Management — and we're adding Coupa, Wax Digital and other new providers to the SolutionMap ranks. Click on this article to see how to access rankings for free!

Join the Coupa Webinar Tomorrow to Learn About Community Intelligence

Spend Matters UK’s procurement veteran Peter Smith on Tuesday will join Coupa’s John Callan for a webinar in the UK about developments in community intelligence, the idea of driving benefits through a community of organizations that are each buying separately but look to collaborate in some way.

Leading procurement/spend management firm Coupa is hosting tomorrow’s event, “Community Intelligence — A Procurement Revolution.” The time of the webinar was changed to accommodate the North American audience, so sign up here and join the 45-minute session at 9 a.m. Central time (3 p.m. UK time), and bring your questions about community intelligence.

“Advances in technology, driven by firms like Coupa, are increasing the potential for benefits from it, making it a significant tool for procurement and one which we believe procurement leaders need to understand,” Smith says in a preview of the event.

Commodities Roundup: Falling Oil Price, Steel Production and G20

oil oversupply OPEC

For the buyers and category managers out there, especially those of you deep in the weeds of buying and managing commodities, here’s a quick rundown of news and thoughts from particular commodity markets. From price movements to policy decisions, we scour the landscape for what matters. This week: Price of oil is falling, updates on steel production and imports, G20 Summit begins today, and is GM leading the way on downsizing?

Interview with Malcolm Harrison, CIPS New CEO (Part 2 — Growth, Change and the U.S.)

Spend Matters UK's interview with new CIPS leader Malcolm Harrison continues with a focus on the professional organization's short-term and long-term plans.

"We must remain relevant to the UK," Harrison says, "but many organizations who employ our members are very interested in what CIPS can do outside the UK — we were invited into the U.S., for example."

Harrison also digs into the institute's strategy to serve its core membership in the UK while also making tough decisions about leadership that can help it expand in other countries. For example, the Chartered Institute of Procurement & Supply recently decided to not appoint a new president when the previous term expired. 

"As we get more international and diverse, it is hard to see that one person can fulfill all the needs," Harrison says.

Procurement veteran Peter Smith, of Spend Matters UK, recently sat down with Harrison to catch up on his first 100 days or so in office.

In Part 1, the interview looked at CIPS' commercial focus. This installment of the three-part series focuses on the future.

"You know the saying 'a tree is either growing or dying' — there is no steady state," Harrison says. "I feel that way about CIPS, we have to move forward and change."

Making It Real: Workforce Agility in Context

talent management

Organizations are increasingly being driven by market and competitive demands, new technology and other environmental factors to become more responsive to rapidly changing opportunities, challenges and threats — to become, in effect, more agile. The question of specifically how an organization can become agile is still being answered by executives, management consulting firms, framework creators and academic researchers. But what we do know is that how human capabilities are engaged, organized and used is a big part of the answer to the question. In this brief, we explore how workforce agility is connected to organizational agility, where most organizations actually are on the road to organizational agility and why the drive to agility is both urgent and incremental.

Gary Hare Talks Amazon Business and Turning the Internet into the ‘World’s Largest Supplier Network’ (Part 2)

“I think the market is going to move from being buyer-centric ... to supplier-centric. [Suppliers] need help going digital,” says procurement veteran Gary Hare. “We really have no choice if we want to get this right.”

Hare’s assessment came during a discussion about Coupa’s purchase of Aquiire and the future of e-procurement shopping, which he says involves a way of outworking Amazon Business and turning the internet into "the world’s largest supplier network." He knows the issues because until 2009 he led Vinimaya before it rebranded as Aquiire. Hare, now the CEO of Vurbis USA, talks about the future of e-procurement in Part 2 of this Q&A, which has been edited. Part 1 ran Monday.

Top Posts of Fall 2018: Market Consolidation, Conference Season and Intensifying Trade Tensions

Procurement

As students went back to school and businesses shook off the haze of a sultry summer, the procurement world kicked off fall with bang. Leaving little time to reorient after Labor Day, we saw major acquisitions in several sectors of the procurement software market, along with new insights from the fall conference circuit and continuing developments in the tense global trade environment.

Take some time this Thanksgiving weekend to catch up on our most-read coverage from Fall 2018 and prepare for the end of the year with the latest news and research on Spend Matters PRO and SolutionMap Insider.

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With High Intensity Hurricanes the New Normal, Procurement Must Plan Ahead or Suffer the Consequences

As the 2018 Atlantic hurricane season draws to a close at the end of November, it’s a good time to reflect on how one of the most disruptive periods of the year is affecting supply chain risk planning. If there were one lesson for procurement to learn from the past season, it’d be this: Hurricanes are becoming more powerful and lasting longer. The last several years of intense storms (think Harvey, Irma, Maria, Florence and Michael) are not anomalies but what appears to be the new normal. Businesses must therefore take stock of the new standards for natural disasters and prepare accordingly — or risk being caught off-guard.

ERP Systems Under Pressure as Internet of Things (IoT) Piles on the Data, Survey Finds

As the industrial internet of things (IoT) integration grows more complex and the cost of broad-based IoT integration and monitoring continues to fall, businesses are becoming aware of the limitations of their enterprise software in making use of IoT data, a survey finds. IoT involves the monitoring of all aspects of manufacturing or a business by imbedding monitors in things like components, production lines or fleets of vehicles, so it’s easy to see how they would create a flood of data. IFS North America, a business software provider who commissioned the study with researcher IEN and analyzed the results, asked 200 IoT decision makers across a range of industries how well their software facilitated IoT data integration in 2017 and 2018. The results show a decline in confidence.

ADP and the Future of Work (Part 4) — Strategy Assessment [PRO]

talent management

In Part 1 of this Spend Matters PRO series, we summarized ADP’s business characteristics, its market and financial strength, and its increased investment in innovation R&D as a backdrop and foundation for the pursuit of its future-of-work strategy. In Part 2, we examined the significant technology developments and recent strategic acquisitions that make up key execution components of the strategy. In Part 3, we offered an explanation of how we see ADP’s future-of-work strategy, providing additional context and zeroing in on essential features. In this fourth and final part of this series, we step back to assess the strategy and what it may mean in a broader industry context.