Source One's series for keeping up with the most recent highlights in procurement, strategic sourcing, and supply chain news week-to-week. Check in with us every Monday to stay up to date with the latest supply management news.
Egbaria examines he recent, unexpected tariff announcements of new tariffs that have supply chains everywhere abuzz. Significantly higher than the Department of Commerce's recommendations, the proposed tariffs are 25 and 10% for steel and aluminum, respectively. Though they're just proposals - for now - the President's announcement has caused predictable surges in aluminum and steel stocks. Primary producers, including the CEO of the Aluminum Association, have largely praised the decision. Downstream producers, have responses with far less satisfaction. Representatives from the brewing and commercial boating industries, for example, have expressed disappointment.
Kevin Bonsall, Procurious, 3/6/2018
According to Deloitte's latest CPO Survey, talent is both a priority and a shortcoming for most Procurement departments. While 87% of respondents consider talent the most essential tool for driving performance, just over 50% believe they're properly equipped to recruit and employ the right talent. Bonsall suggests that Procurement's growing talent gap is the result of lingering misconceptions about Procurement's role within companies. Associating these departments with purchase orders and savings numbers, recent graduates aren't rushing to take jobs in Supply Management. Bonsall offers suggestions for modernizing Procurement and attracting millennial talent.
Sydney Lazarus, 3/8/2018, Spend Matters
Lazarus explores the recent North American Staffing & Recruiting Trends Report. Collecting survey results from nearly 1500 staffing and recruiting professionals, the study found that, while hiring needs and revenues are expected to increase this year, skills shortages are still a major concern. 64% of respondents identified these shortages as their primary challenge for the year ahead. Other common challenges included automation and economic uncertainty. The survey also suggests that Generation Z will lead texting and social media networks to become more important to recruitment efforts.