When undertaking procurement transformation, all aspects related to supply chain management must be able to keep up with the pace of change, as well as evolving priorities.
Change is inevitable, but the rate at which change is implemented makes a difference. It is anticipated that in 2018, procurement professionals will have to accelerate their supply chain if they want their organisations to be competitive in today’s digital and globalised economy.
Swedish retailer Hennes & Mauritz (H&M) has attributed its latest dismal quarterly financial results to a combination of poor product placement in the second half of 2017, bad weather and the “Amazon Effect” (the rise of highly agile rival e-commerce strategies).
The news that ecommerce leviathan Amazon is moving into the logistics field is forcing supply chain businesses to up their game, and many see artificial intelligence (AI) as the way to improve their competitiveness, according to a special report in the Economist.
A new report from the UK Public Accounts Committee (PAC) insists that the Ministry of Defence (MoD) must do more to encourage competitive procurement policies. Almost half of the contracts to supply equipment for the UK’s defence needs are not subject to competition, the report claims.
Events last year demonstrated the precariousness and importance of businesses and their cyber security. The WannaCry ransomware literally held operations such as FedEx at ransom, affecting hundreds of thousands of computers.