When the results of the August Procurement Intentions survey were released, one question jumped out from the others: are we seeing the beginning of a cut back in the amount CPOs spend on technology and systems?
The more eagle-eyed among you will have noticed that we published our Procurement Intentions Index graphs late last week. The graphs record changes in CPO strategy intentions over time, and despite being only four months in our Panel’s approaches to some areas are certainly clear.
Most everyone has heard of Goldman Sachs, the global banking and securities firm. And by now, most have probably heard of Greg Smith, former executive director and former head of the firm’s US equity derivatives business in Europe, the Middle East, and Africa.
The panel discussion at this year’s Procurement Leaders Forum focussed on the impact procurement can have on shareholders return and was made up of an eclectic mix of CPOs and chaired by Jean-Francois Baril, former SVP sourcing and procurement at Nokia.
There’s a quiet revolution taking place in Hong Kong, which a growing number of western companies are tapping into to help increase their traction in the Chinese domestic market while, at the same time, reducing exposure to the currency risk of operating there.
Among the many lessons for procurement during the last couple of years of economic troubles is the importance of checking on suppliers’ financial health. A recent study by Experian and reported on by Procurement Leaders last week shows that many companies have learned that lesson well and have cut the time it takes to pay their suppliers so the suppliers, in turn, can pay their own bills and stay in business.
The most frequently heard four-letter word in the US today is JOBS! Voters polled during this election year say jobs are their most important concern, since so many of them and their fellow citizens are out of work. The much-watched unemployment rate is at 8.5%. And so, Democrats and Republicans are offering differing approaches to bring that rate down. Insourcing manufacturing, naturally, is part of the discussion.
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