Monthly roundup – June
As temperatures swelled over the month of June, so did global economic tension. Beyond the Brexit headlines, June was a big month for procurement and supply chain innovation.
1. Microsoft invests in the power of the network
Microsoft acquired the professional social network, LinkedIn, for $26.2 billion this month, the largest acquisition in Microsoft’s history. This massive acquisition is widely regarded as a strong strategic decision for Microsoft, underscoring that the value of business networks continues to grow.
2. Christian Lanng speaks to CNBC on growth in China and venture funding
Tradeshift CEO and Co-founder, Christian Lanng, appeared on CNBC Squawkbox to discuss Tradeshift’s $75 million Series D in addition to rapidly accelerating global growth.
3. The European Union gains one GB of space
The announcement of Brexit shook the global economy as Great Britain voted to leave the EU. The pound reached a 30-year low against the dollar. Regardless of politics, the uncertainty demonstrated the importance of business agility and a digitally-managed supply chain flexible to adjustments in real time.
4. SpaceX talks colonization and supply chains on the red planet
In June, Elon Musk announced plans to establish a cargo route to Mars through SpaceX. This project would begin with an unmanned mission to Mars in April of 2018.
5. Industry 4.0 continues to reshape procurement
Artificial Intelligence, 3D printing and other Fourth Industrial Revolution technologies are already heavily influencing procurement functions in various industries. Charles-Henri Royon discusses how leading companies are charging forward with this technology in a guest feature on Procurement Leaders.You can learn more about this technology here.
6. Expanded Panama Canal expands shipping and logistics opportunity
After nearly 10 years, the $5.4 billion project to expand the 102 year old canal has been successfully completed. The first Chinese container ship has set sail, and the first voyage, you might say, went swimmingly. The implications for shipping routes and velocity at various major ports are sure to excite commentary and business opportunity.
7. Sustainability means profitability in procurement
Developing corporate social responsibility (CSR) goals is a critical task for procurement experts. Organizations leading the way in the trend to go green are embracing the principles of circular procurement. Travis Bickham explores this futuristic concept here.