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.
More dispatches from SIG Summit:
Procurement with purpose in the COVID-19 Era
The importance of the customer-supplier relationship and the COVID-19 crisis
Art of Procurement launches AOP Mastermind
On July 1, 2020 AOP is opening up its team and network of procurement experts in the AOP Mastermind - a new membership-based platform for insight, collaboration and virtual learning. It provides an action-oriented structure for the entire procurement team including an Executive Mastermind Program, CPO Think Tanks, procurement excellence roundtables, expert-led Q&As and interactive learning workshops. Find out more here.
Creatives Group S.p.A. joins Vienna Stock Exchange
Italy-born provider of AI-powered solutions for procurement and business insights, Creactives S.p.A., announces it has become a publicly listed company on The Vienna Stock Exchange. In the past two months this firm, with an international footprint and some impressive customers, has succeeded in raising €2.3m from 24 Italian and foreign investors while under full lockdown. The move will accelerate the growth of Creactives and its next step in the field of applied artificial intelligence. Read more about Creactives here – and look out for more from us on Creactives next week.
Coronavirus: vendor and supplier news
(Find all our coronavirus coverage here)
See also last week's roundup for more firms' initiatives. This week - in no order other than when it arrived in our inbox:
riskmethods launches supply chain recovery programme
riskmethods is launching a best-practice framework for achieving risk preparedness and gaining visibility into the entire supply network while recovering from the coronavirus crisis. The framework is an incremental part of riskmethods Supply Chain Continuity Programme that helps organisations to manage COVID-19-related supply chain risk and recover from disruptions. Download the best-practice framework here.
UK government invests £35m in protecting vital freight routes as demand drops due to Covid-19
A £35m support package for freight has been unveiled by the UK government which has signed agreements with six operators to ensure there is enough freight capacity to prevent disruption to the flow of goods. P&O Ferries, Eurotunnel, DFDS, Seatruck, Brittany Ferries and Stena Line will be operating the routes, which will be designated as “Public Service Obligation routes,” for a period of up to nine weeks. Read more here.
Supplyframe research on sourcing electronic components during coronavirus
Research carried out for electronics supply intelligence platform Supplyframe shows 37% of decision-makers responsible for sourcing electronic components at global manufacturers are unable to fill customer orders due to COVID-19. 37% also said their overall component costs have increased. 35% said they need to rework products to replace components that are no longer available. And 31% are onboarding new suppliers without going through approved vendor qualification processes. More here.
McKinsey on why I&D must not lose momentum during Covid-19 crisis
McKinsey has published a paper outlining why Inclusion and Diversity is more important now than ever. Inclusion and diversity are at risk in the crisis, but are critical for business recovery, resilience, and reimagination, it says. “The lessons from previous crises tell us there is a very real risk that inclusion and diversity may now recede as a strategic priority for organizations … Yet we would argue that companies pulling back on I&D now may be placing themselves at a disadvantage … “ Read why here.
Ministers told not to use coronavirus as ‘blank cheque’ to evade accountability ...
The Guardian reports that state bodies have awarded at least 177 contracts worth £1.1bn to commercial firms in response to the Covid-19 pandemic, 115 of which were awarded under the fast-track rules bypassing competitive tenders. They include two contracts worth more than £200m, both awarded by Whitehall departments. The chief executive of anti-corruption campaigners, Transparency International UK, warned the government should not use the crisis like a “blank cheque to get rid of controls around transparency and accountability.” More here.
And in other news ...
Supply Wisdom® granted patent for real-time and continuous risk monitoring solution
Meyer Bergman announces €2bn pan-European last-mile logistics platform
Global transaction platform Ebury launches ‘Ebury Instant’ for cross-currency instant payments
Visa files patent for digital currency development
Amazon is gradually reopening its warehouses in France
Engineering procurement platform Kreatize enters new market with Austrian investors
2020 Supplier Information Study – effect of misinformation and outdated supplier records
Supplier collaboration platform Vizibl explains its roadmap
Yaana Launches Digital Contract Management Module to Simplify Mobile Roaming Deal LCM
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