| 📬 New blog post: Why Procurement Matters: Empowering the Unsung Heroes of Business
- Â Procurement professionals are crucial yet frequently overlooked heroes in business. Quietly
ensuring efficiency, sustainability, and innovation, procurement drives strategic value far beyond
cost-cutting. Our latest article highlights why procurement deserves greater recognition and how elevating
its strategic role can transform businesses and careers alike. Jade Wigmore |
📰 Procurement News
General:
| European IT Spending Projected to Reach $1.53 Trillion by 2033 - Â The European
IT spending market is anticipated to grow from $1.19 trillion in 2025 to $1.53 trillion by 2033, reflecting
a CAGR of 3.20%. This growth is driven by the widespread adoption of digital transformation initiatives,
with over 70% of European enterprises integrating advanced digital technologies into their operations. Key
sectors such as manufacturing, healthcare, and retail are leading this shift, investing heavily in IoT and
AI-driven tools to enhance operational efficiency and competitiveness. Market Data Forecast |
| Supply Chains: Prime Targets for Cyberattackers - Â As businesses increasingly
rely on complex networks of partners and suppliers, cybercriminals are exploiting vulnerabilities within
these supply chains. Notably, the November 2024 ransomware attack on U.S. software provider Blue Yonder
disrupted operations for 3,000 companies across 76 countries. To mitigate such risks, adopting a Zero Trust
approach and implementing multi-factor authentication (MFA) are essential strategies for organisations
aiming to protect their IT infrastructures. CIO Africa |
| Toyota Halts Production Following Fatal Supplier Plant Explosion - Â Toyota has
temporarily suspended operations at multiple facilities after a fatal explosion at Chuo Spring's
Fujioka plant in Aichi Prefecture, Japan, on March 6. The incident resulted in one death and two injuries,
disrupting the supply of critical suspension components. Affected models include the RAV4 and Harrier SUVs.
This marks the second explosion at the supplier's plant in recent years, raising concerns about Toyota's
supply chain resilience. CBT
News |
| Rajasthan's Ambitious 19,322 MW Solar Power Expansion - Â Rajasthan is set
to bolster its renewable energy portfolio by adding 19,322 MW of solar capacity by the 2029-30 fiscal year.
This initiative aims to meet the state's escalating power demands and underscores its commitment to
sustainable energy solutions.
SolarQuarter |
Market trends:
| Quicklime Market Experiences Price Fluctuations Amidst Varying Demand and Supply Dynamics
- Â In Q4 2024, quicklime prices exhibited notable fluctuations across key regions. In China,
prices decreased from $127/MT in October to $121/MT in November due to delays in infrastructure projects and
reduced construction demand. However, government initiatives to support manufacturing led to a rebound to
$139/MT in December. The Netherlands saw a slight uptick in October, followed by a decline to $161/MT in
December, influenced by low demand and economic uncertainties. In the United States, prices dropped in
October and November due to weak demand and increased imports from China, stabilizing at $124/MT in December
amid subdued construction activity. IMARC Group |
| Understanding Provisional Sums in Construction Contracts - Â Provisional sums are
estimates included in construction contracts for work not fully detailed at the time of agreement. They
account for undefined elements due to evolving project requirements or incomplete site investigations.
Proper management ensures accurate budgeting and risk allocation between parties. Consultancy.uk |
| The Evolution of Supply Chains in 2025 and Beyond - Â Supply chains are
undergoing significant transformations, focusing on cost optimization, risk management, sustainability, and
the integration of advanced technologies. These changes aim to enhance efficiency and resilience in response
to evolving global challenges.
Crain's Chicago Business |
Public Sector Procurement
| Ukraine's Defence Ministry to Acquire 4.5 Million FPV Drones in 2025 - Â The
Ukrainian Ministry of Defense plans to purchase approximately 4.5 million First-Person View (FPV) drones in
2025, allocating over 110 billion UAH for drone procurement. This initiative aims to enhance the
capabilities of the Armed Forces, with 96% of previous drone acquisitions sourced from Ukrainian
manufacturers, boosting the domestic UAV industry. The Odessa Journal |
| Balancing Efficiency and Cybersecurity in Public Procurement - Â As public
procurement undergoes digital transformation, integrating efficiency with robust cybersecurity measures is
crucial. Emphasizing the importance of safeguarding sensitive data, this article discusses strategies such
as implementing multi-factor authentication, encryption, and continuous risk assessments to protect
procurement systems from evolving cyber threats. THISDAYLIVE |
Corporate Procurement Strategies:
| Accenture and Verizon Collaborate to Tackle Emerging Cybersecurity Threats - Â Accenture
and Verizon Business have partnered to develop advanced cybersecurity solutions aimed at helping businesses
mitigate a range of growing threats, from data breaches to phishing attacks. Their collaboration will offer
new as-a-service capabilities, including Identity and Access Management (IAM) and Managed Extended Detection
and Response (MxDR), to enhance organizational resilience against cyber-attacks. Crowdfund Insider |
Industry Events:
| Highlights from the March 2025 CMO Forum in Singapore - Â The World Federation of
Advertisers (WFA) hosted its CMO Forum on March 4th in Singapore, bringing together over 60 marketing
leaders. The forum emphasized developing global marketing organizations' capabilities and identifying
priority areas for future growth, fostering transformative discussions among industry peers. World Federation of
Advertisers |
Diversity and Inclusion:
| Celebrating International Women's Day 2025 in Procurement - Â The Chartered
Institute of Procurement & Supply (CIPS) commemorates International Women's Day 2025 by
highlighting the achievements of women in procurement. The campaign emphasizes the importance of diversity
and inclusion in the supply chain industry, encouraging organizations to support and promote female talent.
CIPS |
Marketing:
| Virgin Money's Brand Storytelling Push - Â Virgin Money is striving to
differentiate itself in the banking sector by enhancing its brand storytelling. Under the leadership of CMO
Emma Isaac, who joined in November 2023, the bank launched the 'Add extra to ordinary' campaign in
January. This initiative targets customers familiar with various Virgin brands, aiming to bring banking to
life for them. Marketing Week
|
In Brief:
| DocuSign's
Notary On-Demand Revolutionises Digital Notarisation - Â DocuSign has launched Notary On-Demand,
a remote online notarisation solution that enhances security and provides businesses and their clients 24/7
access to notarial services. This innovation is set to transform the notarisation process in the digital
age. Procurement Magazine |
| Monster
Beverage Adopts Cautious Approach Amid New Aluminum Tariffs - Â Monster Beverage is adopting a
cautious approach in response to the newly imposed 25% aluminum tariffs effective March 12, 2025. CEO Hilton
Schlosberg indicated that the company is 'hedged to quite a nice extent in 2025 with aluminum' and
is reviewing international pricing strategies. While acknowledging the potential for price adjustments,
Schlosberg emphasized that Monster aims to avoid disadvantaging its brands by increasing prices
unnecessarily. Supply Chain
Dive |
| February
2025 Procurement and Vendor Management Recruitment Bulletin - Â The procurement job market showed
signs of recovery in early 2025 after a subdued 2024. Despite challenges like economic uncertainty and
increased hiring costs, sectors such as utilities, financial services, fintech, and pharmaceuticals are
experiencing a surge in recruitment activities. Notably, the utilities sector has been buoyant for over six
months, with previously halted roles resuming with renewed urgency. Beaumont Select |
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