In Case You Missed It … Procurement and Supply News Roundup

We can't comment on every press release that hits our desks, but here are a few market news stories this week that we thought we should bring to your attention, and some of our own you may have missed.

IBM unveils AI-powered inventory control system to build resilient supply chains

IBM has unveiled an AI-powered inventory control system, the Sterling Inventory Control Tower, to help companies optimise their decision-making and build resilient supply chains more effectively. At a time when inventory is top of mind for every industry, the AI-powered solution provides insights to see inventory wherever it is, identify the impact of external events to predict disruptions, and take actions to mitigate the effects. Read more here.

UK Gov awards new contract for improved support for modern slavery victims

A new five-year Modern Slavery Victim Care Contract, awarded to The Salvation Army on June 29, will provide a service that better meets the needs of victims of modern slavery, including those with specialist and complex needs. Potential and confirmed victims of modern slavery will be able to access more flexible support under an improved service. Read more here.

New Supplier Management Solution Strengthens Esker’s Procure-to-Pay Suite

AI-driven process automation solutions provider, Esker, announces the launch of a new Supplier Management solution integrated in its Procure-to-Pay automation suite. This new solution takes a full lifecycle approach to help businesses manage supplier information and automate processes across the supply chain. Read more here.

FSB calls for urgent payment reforms

A majority of small companies have been hit by late payment difficulties as a result of Covid-19, despite only small minority having terms changed, according to the Federation of Small Businesses (FSB) which wants urgent reforms of payment practices. Its study of over 5,000 SMEs found 62% had been subject to late or frozen payments in the wake of the coronavirus outbreak, seriously stifling cashflow. Read more here.

In other news ...

VMware to acquire disaster recovery specialist Datrium

HS2 Ltd launches procurement of overhead line equipment for the high speed railway between London and the West Midlands

Tradeshift Launches “Partner Next”, a Newly Enhanced Global Partner Program

Medpricer becomes Conductiv, launches new solution

UK PPE spend to hit £14bn by the end of the year

Germany’s accountancy watchdog has denied blame for failing to spot problems at collapsed payments firm Wirecard

Firms urged to commit 1% of spend with ethnic minority businesses

In coronavirus-era Kearney survey, U.S. tops list for foreign investment — with Germany, UK falling but still in top 10

UK Boohoo accused by garment workers' rights group of putting workers at Leicester factories at risk of coronavirus infection

SMEs set for £10m funding boost to ‘kickstart’ England's tourism industry

Procurement Salary Guide 2020 UK - average salary for UK procurement and supply chain professionals revealed as £48,415 for 2020

Credorax Partners with Feedzai to Provide Anti-Fraud Solution for Merchants

 

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