February 24, 2021
Employers are now more aware of their employee’s personal situation and family commitments than they were pre Covid-19, according to the Re:Me report from MetLife UK. This report, which explores the changing relationship between employers and employees amid the global pandemic, claims that seven in ten (71 percent) employees now feel ‘employers have a social responsibility to them’. More →
December 15, 2020
With the continuous impact of the pandemic on people’s mental health due to isolation, work uncertainty, and anxiety over health, the topic has been dominating the news, begging the question of how we can achieve accessible and cost-effective treatment for all and prevent the expected acceleration of mental health issues in the coming months. As we juggle a different type of work-life balance brought about by working from home and the added worry of how the pandemic is affecting us, there is no doubt that our daily lives have been disrupted. The statistics are alarming; 60 percent of adults reported their mental health had gotten worse during the COVID-19 lockdown, and 51 percent said their mental health has got worse during this period. More →
January 9, 2020
You’re probably aware of the experiment performed by Stanley Milgram in which volunteers were asked by men in white coats to administer what they believed to be electric shocks to another person, who they could not see, but could hear, from behind a screen. Around two-thirds of the volunteers agreed to deliver what they were told to be potentially fatal shocks to the subject, who they could hear screaming and begging them to stop. What they didn’t know was the person they were agreeing to inflict this on was in fact an actor. Although now questioned, Milgram’s findings remain the famous of a series of studies that have attempted to highlight the willingness of humans to bow to authority figures and comply with group norms irrespective of what their own morals might tell them.
July 12, 2019
Companies owned by families pay more attention to issues of corporate social responsibility (CSR), such as sustainability and environmental issues, according to research from Vlerick Business School, but the research also found that attention to CSR decreases as the company is handed down to the next generations. Dr. Kerstin Fehre, Professor of Strategy at Vlerick Business School, alongside Dr. Florian Weber from the Karlsruhe Institute of Technology in Germany, studied family firms and the attention they gave to CSR compared to non-family firms. The study, published in the journal Business Ethics: A European Review, used over a hundred of the largest HDAX listed companies in Germany and analysed messages to shareholders published in annual reports. More →
July 24, 2017
This month, the British Council for Offices (BCO) launched a new report looking at the importance of offering better workplace facilities for cyclists in order to support the Government’s ambitious cycling growth targets. The Department for Transport’s £1.2bn cycling and walking investment strategy, published in April, aims to make cycling “the norm” by 2040. It plans to do this by improving cycling infrastructure and expanding cycle routes between city centres, local communities and key employment and retail sites, making improvements to 200 sections of roads for cyclists and providing funding for councils to invest in cycling schemes. In addition, city councils across the UK are making improvements to their cycling infrastructure. Last year, Sadiq Khan announced plans to spend £770m on cycling initiatives in London over the course of his term, in order to make riding a bike “the safe and obvious” transport choice for all Londoners. Birmingham City Council has pledged to invest more than £11m in creating two-way cycle paths, resurfacing canal towpaths, and even offering free bikes, with the aim of doubling the number of trips in the city made by bike from 5 percent to 10 percent by 2033, in order to make the city healthier, greener, safer and less congested.
November 4, 2016
Corporate social responsibility is no longer seen as more than a nice to have, with those working within the built environment for example, appreciating the role it has in reducing greenhouse gases. But it is also being increasingly seen as a positive way of attracting and engaging the right talent. Now according to a new survey carried out in the US, meaningful engagement around CSR is becoming a business – and bottom line – imperative, impacting a company’s ability to appeal to, retain and inspire Millennial talent. Three-quarters (76 percent) of Millennials consider a company’s social and environmental commitments when deciding where to work and nearly two-thirds (64 percent) won’t take a job if a potential employer doesn’t have strong corporate social responsibility (CSR) practices, according to the 2016 Cone Communications Millennial Employee Engagement Study. Because the millennial generation are the most likely to blend their personal and working lives, it’s more important to them than other generations to view their job as a way to make a positive impact on society, the study suggests.
March 19, 2013
We all like to think we are discerning about what we will and won’t put in our trolleys at the supermarket. Not any old salty, fat saturated gloop will make the cut these days. That’s why food producers like to proclaim its healthiness on packaging, regardless of the nature of the product within. ‘Lower fat’ doesn’t mean low fat. Companies in other sectors follow suit. The office products market is one in which some manufacturers don’t mind a splash of green on product labels. This doesn’t do the customer or the buyer any good and can breed cynicism in the market, undermining the efforts of those suppliers who actually take a sophisticated approach to the environmental performance of their products.
October 15, 2024
In today’s evolving workplace landscape, the issue of sexual harassment at work and the work-related environment remains a pressing concern for employers and employees alike. Recent surveys have shed light on the pervasive nature of this problem, revealing that a significant portion of workers continue to experience sexual harassment at work not only from colleagues, but also from third parties such as suppliers, customers and patients. As new legislation approaches, it’s imperative for employers to take reasonable anticipatory steps to prevent sexual harassment at workplace to improve workplace culture, the organisation from expensive and damaging claims and its workforce from such abhorrent conduct. More →
October 15, 2024
The Design Guild Mark has opened entries for the 2025 edition, inviting designers and companies to submit entries for three categories: furniture, lighting and interior elements. Entry is open to British designers working in the UK or abroad, and designers with UK based design practices. The Design Guild Mark is a non-profit award programme that was established in 2008 by The Furniture Makers’ Company to raise the profile of British industrial design and to recognise excellence in this discipline. More →
September 26, 2024
In recent years, procurement has transformed from a back-office function to a strategic driver of business value. As global supply chains become more complex and businesses strive for greater efficiency, sustainability, and agility, the future of procurement is set to change even more dramatically. Technological innovations, data-driven insights, and a shift in priorities are reshaping the way organizations manage their sourcing, purchasing, and supplier relationships.
This article explores the future of procurement, focusing on the trends, technologies, and strategies that will define this critical business function in the coming years.
One of the most significant trends shaping the future of procurement is digital transformation. Traditional procurement processes, which were often manual and time-consuming, are being replaced by automated, digital solutions. Technologies such as artificial intelligence (AI), machine learning, robotic process automation (RPA) are streamlining procurement workflows, enhancing transparency, and improving decision-making.
Artificial Intelligence (AI) and process orchestration are transforming procurement by streamlining complex tasks and improving overall efficiency. As highlighted in Tonkean’s blog, AI can eliminate time-consuming manual work like managing approvals, chasing stakeholders, and navigating complex systems. The use of AI-powered orchestration allows procurement teams to unify systems, automate routine tasks, and facilitate collaboration. This leads to faster cycle times, better process adoption, and more time for high-value strategic work, ultimately positioning procurement as a key business partner.
Key Areas of Digital Transformation:
– Automation of Routine Tasks: Tasks like purchase order creation, invoice processing, and supplier matching can now be fully automated, allowing procurement professionals to focus on more strategic initiatives.
– AI-Driven Insights: AI can analyze vast amounts of data to identify trends, predict demand, and assess risks, enabling more informed decision-making.
Impact:
The adoption of digital technologies will lead to faster procurement cycles, reduced errors, and significant cost savings. Procurement professionals will need to adapt to new tools and skills, such as data analytics and AI-powered decision-making, to remain competitive.
Data is becoming the new currency in procurement. With the vast amount of data now available through various channels—supplier data, market trends, and performance analytics—procurement teams have the opportunity to make more strategic decisions. Advanced analytics tools are enabling organizations to turn raw data into actionable insights, optimizing procurement strategies for cost reduction, risk management, and supplier performance.
How Data Impacts Procurement:
– Supplier Relationship Management: Data analytics can help procurement teams evaluate supplier performance, identify key areas of improvement, and foster stronger, more collaborative relationships.
– Risk Mitigation: Predictive analytics can forecast potential supply chain disruptions, allowing organizations to proactively manage risks such as supplier bankruptcies, geopolitical instability, or natural disasters.
– Cost Optimization: By analyzing purchasing patterns and market trends, procurement professionals can negotiate better contracts, reduce maverick spending, and ensure cost savings across the board.
Impact:
The ability to harness and analyze data will be critical for the future of procurement. Organizations that leverage data to drive decisions will be able to build more resilient and cost-efficient supply chains.
As consumers, investors, and regulators increasingly prioritize sustainability, procurement teams must align with corporate social responsibility (CSR) and environmental, social, and governance (ESG) goals. This shift means that procurement will play a central role in ensuring that businesses source goods and services from environmentally and ethically responsible suppliers.
Key Areas of Focus:
– Sustainable Sourcing: Procurement teams will need to ensure that suppliers adhere to environmentally friendly practices, such as reducing carbon emissions and minimizing waste.
– Ethical Labor Practices: Ensuring that suppliers comply with labor laws, prevent human rights abuses, and foster fair working conditions will become a priority.
– Circular Economy: Procurement will increasingly focus on sourcing products that can be recycled, reused, or repurposed, contributing to a more circular economy.
Impact:
Sustainability will no longer be optional for procurement teams. To remain competitive and compliant, procurement professionals must prioritize ethical and sustainable practices in their sourcing strategies.
In the future, procurement will shift from a transactional function to one that focuses on collaboration and innovation. Instead of simply managing suppliers, procurement teams will work more closely with them to co-create value and drive innovation. This shift will require a new approach to supplier relationships, one that emphasizes trust, transparency, and mutual benefit.
Key Changes:
– Supplier Collaboration: Rather than viewing suppliers as vendors, procurement teams will treat them as partners in innovation. This collaboration can lead to the development of new products, improved processes, and shared efficiencies.
– Long-Term Relationships: Procurement will focus on building long-term, strategic partnerships with suppliers, ensuring that both parties can innovate and grow together.
– Innovation Hubs: Some organizations may establish innovation hubs or programs where procurement teams and suppliers collaborate on research and development, bringing cutting-edge products and services to market faster.
Impact:
Collaboration with suppliers will become a competitive advantage, enabling organizations to innovate, adapt to market changes, and deliver more value to customers.
As procurement evolves, its role within the organization will become more strategic. Instead of being seen as a cost-saving function, procurement will increasingly contribute to business growth, innovation, and resilience. This shift will require procurement professionals to develop new skills and capabilities, such as strategic thinking, cross-functional collaboration, and leadership.
Key Areas for Strategic Focus:
– Procurement as a Value Creator: Procurement will move beyond cost-cutting to create value through innovation, risk management, and sustainability.
– Cross-Functional Collaboration: Procurement teams will work more closely with other departments, such as R&D, marketing, and finance, to align procurement strategies with broader business objectives.
– Leadership and Influence: Procurement leaders will need to influence key stakeholders and contribute to strategic decision-making at the executive level.
Impact:
The strategic elevation of procurement will lead to greater influence within organizations, enabling procurement professionals to drive business success through innovation, resilience, and sustainability.
Conclusion
The future of procurement is one of transformation and opportunity. As digital technologies, data-driven decision-making, sustainability, and supplier collaboration reshape the procurement landscape, professionals in this field will need to adapt and embrace new skills and strategies. By doing so, they will not only optimize procurement processes but also contribute to the long-term success of their organizations.
Procurement is no longer just about sourcing the best deal—it’s about building resilient, ethical, and innovative supply chains that drive business
September 19, 2024
A new poll claims that two-thirds of workers feel powerless to disconnect from work to fully manage the blurred boundaries between work and life, leading to stress, burnout, and anxiety. On average, this results in five days of sick leave per employee each year. The UK government’s planned ‘Right to Switch Off’ for employees is just the beginning for organisations aiming to tackle the negative effects of ‘unboundaried’ work on both businesses and employees. According to the report titled The Work-Life Boundary Gap – Why it Matters and How to Fix it [registration], published by Protime UK, work-life balance is critical for overall wellbeing. The report, based on a survey of 2,000 UK employees, found that 93 percent of respondents believe maintaining this balance is vital. However, 67 percent of employees feel they are unable to fully switch off or maintain their own work-life boundaries. More →
January 25, 2024
The final word on … responsibility
by Mark Eltringham • Business, Comment
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