Industry news

Though use of blockchain solutions in supply chain is still relatively low, Tech Mahindra is among pioneers driving its adoption

Cryptocurrencies and non-fungible tokens (NFTs) tend to hog most of the headlines when it comes to blockchain, but those behind the technology understand just how powerful it can also be in transforming crucial aspects of commerce, such as supply chain.

Supply chain lends itself to blockchain-based solutions because it’s growing increasingly complex. This creates challenges around communications and end-to-end visibility that can make processes inefficient – at a time when expectations around efficiency are increasing.

Blockchain is emerging as one solution to help organisations meet these supply chain challenges. 

Read more on SupplyChain Digital here.

BPO companies now may have to look beyond competitive compensation as a key in attracting and retaining top talents.

Findings of the recent study conducted by Sitel Philippines revealed that excellent health programs are the top draw for people considering a career in the BPO industry.

“The stress of everyday life, consequences of wrong lifestyle choices, and environmental stressors — all these can sap a person’s physical and emotional energy,” said one of the respondents during the focus ground discussion session conducted for the study.

Read more on Manila Bulletin here.

It seems we’re finally starting to see signs of growth in digital skills materialising. According to the (ISC)² 2022 Cybersecurity Workforce Study, the size of the cybersecurity workforce reached an all-time high of 4.7 million in 2022. However, the very same report suggests that there was still a shortage of 3.4 million security professional last year, up 26% from the figures recorded in 2021.

The crux of the problem is simple: Yes, the global cybersecurity workforce is growing, but so too is the gap in the number of professionals required to combat an ever-evolving threat landscape.

Read more on SME Web here.

As the saying goes, there’s no rest for the weary. Even with the supply chain impacts of COVID-19 winding down, another threat looms on the horizon. Recession, the once-in-a-decade crisis that disrupts lives and transforms global commerce, is possibly looming. Inflation rates are skyrocketing. Currency values are plummeting. Discretionary spending is slowing. It’s time to brace for changes that will have a lasting impact on your business and your supply chain.

But preparing for change doesn’t have to mean bracing for the worst. Readying your supply chain for recession now will give you the opportunity to thrive through disruption and chart a brighter future for your company for years to come.

Read more on Kinaxis here.

By 2026, 70% of technology sourcing, procurement and vendor management (SPVM) leaders will have environmental-sustainability-aligned performance objectives for their functions, according to Gartner, Inc.

Environmental sustainability has become a top 10 business priority for CEOs, demanding aligned environmental performance from souring functions. “Environmental sustainability directives require all functions to adjust in line,” said Stephen White, Senior Director Analyst at Gartner. “Sourcing, contracting and vendor management must all adapt with urgency by incorporating sustainability rigor into operations and objectives.”

Read more on Express Computer here.

Procurement is becoming increasingly bound-up with Technology, increasing efficiency in Procurement.Here are the Top 10 ProcureTech strategies...

Read the strategies on Procurement Magazine here.

The UK government should include a “social value calculation” in the Procurement Bill as a compulsory component for contracts.

During a Westminster Hall debate in Parliament, Mick Whitley (Lab), told MPs a “measure of social value” should be embedded “in every contract”.

“That spending should bring direct benefits to the people of this country, not primarily to the corporations that win most contracts, and still less to those in tax havens who utilise loopholes in the law to siphon taxpayers’ money into offshore accounts,” he said. 

“However, the bill does not match the scale or scope of reform to public procurement procedures required to ensure that it addresses the needs of the British people following the UK’s exit from the EU.”

Read more on CIPS here.

In the face of a business environment plagued with uncertainties, organizations are turning to technology to help lower costs and optimize productivity, and with good reason. Among McKinsey-surveyed companies in 2020 that were able to successfully undergo a tech transformation, 50 percent reported moderate to significant impact on realizing new revenue streams, almost 70 percent reported impact on increasing existing revenue streams, and 76 percent reported impact on reducing costs. But modernizing technology requires companies do multiple things well to capture all the value that’s there for the taking, write partners Anusha Dhasarathy and Thomas Elsner, and senior partner Naufal Khan. Dive into these insights to understand how to compete and succeed in a digital world.

Read more on McKinsey & Company here.

Pressurised working environments for procurement professionals are driving an increase in automation in the function, according to experts.

Alan Holland, founder and CEO of tech firm Keelvar told Supply Management there had been a “significant increase in demand” for automation as a result of rising burnout among buyers.

“Sourcing professionals have been swept up in a perfect storm of global volatility, geopolitical disruption, and inflation and they’re struggling to stay afloat,” Holland said.

“While predictive AI has gained some traction for helping teams anticipate future outcomes, it’s doing little to solve the workload crisis they’re currently facing. As a result, we’re seeing a significant increase in demand for automation.”

Read more on CIPS here.

Accenture (NYSE: ACN) has been rated the highest Leader in the Everest Group PEAK Matrix Assessment for Salesforce Industry Cloud Services, positioned ahead of all competitors in both Market Impact and Vision & Capability.

According to the report, Accenture's consistency in winning Salesforce Partner Innovation Awards and recognition with the highest industry expertise level indicates its capability and credibility in the market. Additionally, clients recognized Accenture for its track record of successful implementations, technology-functional expertise, and a global talent pool of industry cloud resources. Accenture was the only provider to be measured 'high' in the Value Delivered and Vision and Strategy capabilities.

Read more on MarketScreener here.