There are tons of terms related to procurement, many of which are so commonplace or self-explanatory most people don’t need a glossary to understand them. Here is a list of key procurement terms, especially acronyms, that can be confusing without a definition.
The Hackett Group, a global strategic business advisory and operations improvement firm, recently released a new study, entitled Borderless Business Environment – Driving New Pressure, Changing Priority for Procurement Leaders. In this study, the group reports that CEOs are challenged to do more with fewer resources continuing through 2013.
The Spanish fashion retailer Zara and its parent company Inditex are facing investigation by Brazil’s Ministry of Labor and 52 charges following a raid at one of their manufacturing facilities in Brazil. Local authorities received a tip from a workers’ rights group, La Alameda, and subsequently found 15 workers in the facility, one of which…
The latest Gartner Worldwide IT Forecast has just been released for the second quarter of 2013, and news is overall positive for the IT sector of the economy. Global IT spending is now expected to rise to $3.8 trillion this year, a 4.1 percent increase from the 3.6 trillion spent on IT in 2012. According…
On Thursday, March 28, the U.S. passed a law which requires NASA, the Department of Justice, and the Department of Commerce to get approval from federal law enforcement agencies before buying high-tech products from China. The law was a small part of a larger package of the U.S. spending bill. Restrictions are in response to…
PetroSA, South Africa’s national oil company, has fallen under investigation by its parent company, Central Security Fund and South Africa’s department of energy for a series of ongoing inappropriate procurement procedures. Though a full investigation is underway and few details have been released to date about the indiscretions, here’s what’s clear from the information known.
According to the Global Rigid Plastic Packing Market 2013-2023 analysis and report conducted by the company Visingain, the market is expected to grow by $161.11 during the year 2013. Most of the growth will occur in developing markets, where labor costs are low and the countries are experiencing rapid growth. The analysis predicts an increase…
2013 is predicted to be the year that businesses begin to fully tap into the potential offered by big data. Media buzz is playing a big role in the trend, giving information technology professionals the idea that if their business isn’t on the bandwagon, they’re behind their competitors. A newly released Garner survey indicates 42…
A recent study released by Deloitte identifies attracting and retaining top talent as a major cause for concern heading into the new economy. Deloitte just released the 2013 Top Five Global Employer Rewards Priorities Survey and found that roughly 25 percent of the two major human resources professionals organizations (the International Society of Certified Benefits…
INRIX provides traffic information which can be used for all sorts of intelligence gathering and decision making. Its Gridlock Index (IGI) tells some good news and some bad news. According to its data, traffic in the most populated 100 cities across the United States is picking up, leading to more gridlock and slower travel times….