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
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
Firms urged to commit 1% of spend with ethnic minority businesses
SMEs set for £10m funding boost to ‘kickstart’ England's tourism industry
Credorax Partners with Feedzai to Provide Anti-Fraud Solution for Merchants
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