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Each week, Ardent Partners curates a round-up of procurement news, research, and analysis and delivers it to our newsletter subscriber base. The “This Week in Procurement” newsletter includes weekly research articles from the Ardent analyst team, as well as a collection of procurement and supply management news from around the globe. We also highlight the higher-profile appointments and promotions that occur in the procurement world. ENTER EMAIL ADDRESS HERE TO JOIN ————————————————–>
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PROCUREMENT NEWS FROM AROUND THE WORLD
How Tariffs Ravaged the COVID-19 Medical Supply Chain – Supply Chain Dive
Now three months into the COVID-19 pandemic, consumers in the United States are still struggling to find public-health-related products like hand sanitizer and disinfectant wipes. There’s also ongoing shortages of key medical equipment, like personal protective equipment (PPE), some of which is still subject to tariffs. This has thrown a wrench into pandemic preparedness and response. Tariffs on healthcare items not only increases US healthcare costs, it also has disrupted the medical supply chain.
New Insolvency Law Risks Creating ‘Non-Pay Culture’ in Supply Chains – CIPS
The government in the UK has introduced legislation that would mean suppliers won’t be able to stop supplying a company that has entered insolvency. Under the new bill, which was introduced to Parliament on May 20, the termination clauses that engage on insolvency will be prohibited. This would prevent suppliers from ceasing their supply or asking for additional payments while a company is going through a rescue process. Some experts argue that there is a risk of supply chains becoming characterized by a non-pay culture with companies being allowed to maintain liquidity by not paying suppliers.
5 Data-Driven Solutions to the Global Disruption of Supply Chains – Fast Company
Modern supply chains were already being tested last year by trade wars and the uncertainty of Brexit. The COVID-19 pandemic only added more stress and is showing the danger of depending too much on a few distant suppliers for resources. Many executives now view supply chains as their biggest risk factor. The utilization of data-driven strategies will be key for companies to remain smart and agile during this challenging time.
So Your Company Has Said You Can Work From Home Forever—Now What? – CNBC
As the global pandemic stretches into its third month in the United States (and longer in other parts of the world), business leaders have been considering keeping “remote work” even after the pandemic subsides. Making this kind of transition can have a major impact on a person’s career and personal life. There are many different things to consider before making the change permanent.
CPO RISING HIGHLIGHTS FROM THE LAST WEEK
The CFO and the CPO: One World, Two Worldviews
From any perspective, the relationship between the Chief Financial Officer (“CFO”) and the Chief Procurement Officer (“CPO”) remains one of the most difficult and challenging within business today. At the same time, it also remains one of the most promising. This article looks at the opportunities and challenges facing these two C-Level leaders and their departments, and makes a series of actionable recommendations that can help improve enterprise performance in the near-term and help build a foundation for a productive and thriving, long-term finance-procurement partnership.
Mid-Pandemic Ruminations on the Future of Work
Pre-pandemic, the Future of Work was a movement defined by advancements in human capital management, talent acquisition strategy, innovation, and new technology, all converging to help businesses optimize how work was done. Today, many of the core tenets of the Future of Work remain unchanged, but specific focal areas have been altered as a direct result of a seemingly-transformed world.
Ardent Partners FinTech Influencer Series: Brian Anderson, Senior Manager, Accounts Payable at Verizon Media
Ardent’s FinTech Influencer Series highlights innovative voices in the world of accounts payable (“AP”) automation. This series is the go-to spot for progressive thoughts on how technology, transformational thinking, and revolutionary ideas are changing how AP work gets done. Continuing our FinTech Influencer Series, in this installment we spoke with Brian Anderson, Senior Manager, Accounts Payable at Verizon Media.
Contingent Workforce Weekly, Episode 440: A Conversation with Rich Oakes, President of GigSmart (SEASON FINALE)
On the Season Four finale of the Contingent Workforce Weekly podcast series, Ardent’s VP of Research, Christopher J. Dwyer, talks about some ruminations on the Future of Work, and then has a discussion with President of GigSmart, Rich Oakes. During the conversation, Rich and Chris discuss the value of the contingent workforce during challenging times, the future of the Gig Economy, and much more.
