Bloomberg reports that China on Monday retaliated against U.S. President Donald Trump’s tariff threat, allowing the yuan to tumble to the weakest level in more than a decade and asking state-owned companies to suspend imports of U.S. agricultural products. This follows President Trump’s announcement last week of adding 10% tariffs on another $300 billion in Chinese imports starting Sept. 1.
SAP Ariba, Social Enterprise UK continue to move the needle on procurement as a force for good
Spend Matters UK/Europe published an update on how SAP Ariba and Social Enterprise UK, an organization dedicated to promoting ethical and sustainable firms, continue to espouse “procurement with purpose.”
“The SAP and SAP Ariba teams have been working hard to back ‘Social Enterprise’ and ‘Buying Social’ and have created a roadmap for increasing spend with social enterprises and a tracking mechanism for reporting progress,” reports Nancy Clinton, editor of SM UK/EU.
Read the full article right here.
ASCM launches first-of-its-kind enterprise certification
The Association of Supply Chain Management (ASCM) announced the launch of the ASCM Enterprise Certification, a “global cross-industry standards guide to benchmark progress and measure the ethical, environmental and economic initiatives of corporate supply chains,” according to a Spend Matters report published this morning.
“I believe enlightened practitioners will find ASCM’s diagnostics and guidance regarding responsible and sustainable sourcing to be very valuable and eminently practical, and therefore a solid pillar in a broader supply chain certification program,” said Pierre Mitchell, chief research officer of Spend Matters, as quoted in the article.
Read the full piece right here.
Frost & Sullivan report shows how IoT can change supply chain management
An analysis by Frost & Sullivan titled “Growth Opportunities in the Internet of Things-enabled Supply Chain Management Market, Forecast to 2024” shows that end-to-end visibility, predictive analysis, transparency, and real-time insights are some factors driving the adoption and implementation of Internet of Things systems within the supply chain management market.
“Current supply chains will be reinvented as IoT-enabled systems allow unprecedented end-to-end visibility, remote tracking, and control,” said Deepali Sathe, Senior Industry Analyst at Frost & Sullivan. “The increase in automation will significantly improve accuracy of predictions and speed of execution.”
Broad bilateral trade deal between U.S. and Japan to happen by September
Reuters, quoting a report by Nikkei, said Japan and the United States had agreed to arrive at a broad deal on bilateral trade by September. The two will try and overcome differences of opinion over tariffs on beef and the automobile sector. The understanding was reached during a meeting between Japanese Economy Minister Toshimitsu Motegi and U.S. Trade Representative Robert Lighthizer in Washington D.C.
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