All posts by Procurious HQ

Could North Sea Cod Be Back On The Menu?

A recent assessment of fish stocks indicate that cod might soon lose its ‘fish to avoid’ status as the fish’s population is growing at a near-sustainable rate.

Cod levels in the North Sea have returned to healthy status

The International Council for the Exploration of the Sea (ICES) has delivered an overview of the status of a host of fish and shellfish stocks across the Northeast Atlantic.

The Marine Conversation Society introduced tight controls on cod and plaice in 2006 owing to dwindling supplies, but those limits look set to soon be lifted thanks to the healthy numbers revealed in the new report.

The general picture indicates that the level of exploitation brought about by decades of overfishing has now been reduced. This has been determined in accordance with the advice provided by ICES and in line with management objectives for sustainable fisheries.

​​​​​​​​​​​The Chair of ICES Advisory Committee, Eskild Kirkegaard, said: “Over the last ten to fifteen years, we have seen a general decline in fishing mortality in the Northeast Atlantic and the Baltic Sea. The stocks have reacted positively to the reduced exploitation and we’re observing growing trends in stock sizes for most of the commercially important stocks.”

For the majority of stocks, it has been observed that fishing mortality has decreased to a level consistent with Maximum Sustainable Yield (MSY) – meaning levels that are not only sustainable but will also deliver high long term yields. The information encompasses around 150 stocks, of which cod and plaice were among their number.

In technical terms North Sea cod has seen a downturn in fishing mortality and an upturn in Spawning Stock Biomass (SSB) – which [crucially] means cod stocks are increasing, whereas North Sea plaice is now considered to have reached record high levels.

According to various sources the Marine Conservation Society have welcomed the news and are currently looking at improving cod’s rating in the coming weeks. It was originally feared that the diminished supplies, coupled with the increase in demand, would result in significant price-hikes come fish Friday. With the healthier picture coming out of the North Sea, it now looks like the UK (at least) will escape such a fate. However it’s a different story for the Mediterranean where latest estimates claim 91 per cent of the region’s stock is overfished.

20 Most Promising Procurement Solution Providers in 2015

Which companies have been recognised among CIO Review’s Twenty Most Promising Procurement Solution Providers?

Who's made it into the Top 20?

CIO Review has published their list of the ‘Twenty Most Promising Procurement Solution Providers in 2015’.

The list of best in class providers features supply chain qualification leader, BROWZ along with other industry favourites; Ariba, SciQuest and Zycus to name a few.  A complete listing of recognised providers can be found in this month’s edition of CIO Review.

CIO Review is a US technology magazine that informs readers on the enterprise solutions that will define the businesses of the future.

According to the publisher: “We present you with the 20 most promising procurement solution providers of 2015, featuring the best solution and service providers offering tools and services on the procurement landscape. The companies featured in this issue, have exhibited extensive business process knowledge combined with innovative strategies. A distinguished panel comprising of CEOs, CIOs, and analysts including the CIO Review editorial board have selected the top companies that are at the forefront of tackling challenges in the procurement landscape.”

Elaine Beitler, BROWZ, CEO, says “As a former CIO, I valued this magazine as a resource for information on new innovative technology solutions that could be applied strategically to advance the business. I’m proud of this accomplishment and congratulate all of those being recognized in this impressive list of companies.”

In addition to being named one of the ‘Twenty Most Promising Procurement Solution Providers in 2015,’ BROWZ is highlighted in a four page article of the magazine. In the article, Beitler discusses the challenges organizations face today when hiring and qualifying contractors and suppliers.

“Contractor screening is only one part of the equation,” says Beitler. “We’ve created a global compliance network that connects buyers and suppliers of goods and services. We work to ensure buyers have the solutions in place, to not only screen, but manage the ongoing compliance of their supply chain. Most organizations don’t have the resources or tools necessary to do an adequate job, especially once a bid has been awarded. We’re working with the world’s largest companies – ensuring they have safe, qualified and socially responsible supply chains. This is only possible when you have an end to end solution to address the risk that exists at all levels of the supply chain.”

What Are We Doing To Create Communities Of Practice?

Watch the Procurious Big Ideas Panel Discussion on working together to elevate procurement.

The fourth of the Big Ideas Summit panel discussions built on Tania Seary’s keynote speech and the idea of collaboration across the procurement profession. David Noble, Tania Seary, Diego Barilla and Sue Steele discuss what can be done to bring a dispersed community together.

Watch a sample below

From spend entrepreneurship to professional accreditation and certification, the panel threw up some interesting questions and answers and got the wider group thinking about how we can help to map our future.

Procurious members can view the full panel discussion here. Not a member yet? Register for free.

Procurious talks to Kylie Towie – ‘Procurement Leader of the Year’ 2015

Procurement Leaders 'Procurement Leader of the Year' Kylie Towie

They say that Texas is big. If you’ve been to Western Australia (WA) you’ll know that ‘big’ is a relative term. Western Australia’s size is so vast that Texas would fit within its boundaries three times, with still enough room left over for California and Connecticut to come visit. For the Europeans out there, Western Australia is as big as France, Germany, Spain, Poland, Italy, Greece, Portugal and Ireland combined.

It is from this vast part of the world that the 2015 Procurement Leader of the Year hails.

Kylie Towie is the Chief Procurement Officer of WA Health, the government agency responsible for providing health care to this enormous state and was recently awarded the prestigious title of ‘Procurement Leader of the Year’ at the Procurement Leaders Forum in London.

Kylie graciously took some time to catch up with Procurious to discuss her achievement.

Procurious: Kylie, first of all, congratulations. It is a huge honour to have been recognised as the Procurement Leader of the Year. Can you tell us what it means to you to take out this coveted award?

Kylie: Thank you. To be completely honest, it was a huge honour just to be nominated for the award. The other nominees (Kellogg’s, ITV), along with companies in the room such as Kimberley Clark, Unilever and IBM are global industry leaders and to be mentioned in the same breath as such high calibre organisations was a great achievement.

In terms of the award itself, it is a fantastic feeling to know that the work we’ve been doing at WA Health not only positions us as a leader in the Australian public sector (the department has also been recognised for it’s performance domestically), but is seen by the profession globally as something that is contemporary and leading the way in transformational procurement.

Procurious: Can you give us some background to the projects you’ve been working on at WA Health?

Kylie: My tenure at WA Health hasn’t been a long one. I was parachuted in, back in January 2014, to address some identified issues with the department’s procurement processes.

My first task was to establish a picture of the WA Health procurement landscape. Despite an organisational budget in excess of $8 billion (AUD); there wasn’t a clear view of what was happening from a procurement perspective within the organisation.

The department was also in the midst of constructing two new world-class hospital facilities at a cost of seven billion dollars. So procurement and spending was at the front of everyone’s mind.

When you’ve got programs of that magnitude, it clearly puts pressure on the procurement environment. For us, it was a matter of understanding and determining the levers and mechanisms we could utilise, to ensure the business’s strategic goals would be achieved.

Procurious: You’ve just mentioned that you were able to link procurement activities directly to organisational goals; can you expand on that? 

Kylie: At WA Health, we refer to procurement as business leaders and strategy leaders rather than procurement leaders. We aim to act as enablers to ensure the organisation meets its business objectives.

I have found that if you spend too much time ‘talking procurement’ you quickly get labelled as ‘back office’ rather than being viewed as a strategic leader.

The way that I see it, procurement underpins any business decision you make. Any business strategy requires a solid procurement strategy to sit beneath it.

As procurement professionals, it’s our job to lift the conversation up a level. If you start to talk about business levers, value propositions and achieving strategic objectives rather than discussing supply, invoicing and cost savings, you’ll quickly change perspectives about the function and the value it can bring to an organisation. By making simple changes to your dialogue, you’ll find that business partners will see you in a very different light.

Procurious: How did you go about delivering the transformational change program at Western Australian Health?

Kylie: Stakeholder engagement was critical. Doctors, nurses and clinicians are rightfully concerned with one thing: Better patient outcomes. At times, business and procurement processes can be seen as a burden or a roadblock to health professionals getting what they need to do their jobs. Obviously in health, the ability to get the right equipment or product at the right time has the potential to save lives. It was critical, that in order to be seen as enabler, rather than a roadblock, we engaged closely with these practitioners.

At the beginning of the transformation process, I met with a number of the most senior clinicians from across the state to discuss their problems and determine how, with smart procurement, we could help to solve them.

I found that by shifting our conversations back to the patient, I got immediate buy-in. Everyone at WA Health is working towards better patient outcomes and a healthier Western Australia, that’s our modus operandi. So now, as a procurement function, every time we make a decision, we ask ourselves “how does this serve our patients and our community?”

By asking these questions we are immediately aligning ourselves with our organisations goals and our community’s expectations.

Once we had an overview of what needed to be done, I set out to instil four fundamental procurement pillars that would guide our team through the transformation. The pillars we revolved our operations around were, governance, capability and capacity, training and education, and monitoring and evaluation. I have used the same framework to great effect in every procurement transformation I’ve run.

Off the back of these pillars, we identified 24 strategic recommendations, which resulted in 62 separate procurement improvement projects. We took a systemic approach to addressing these projects and finally delivered all 62 by the 19th of July this year (a remarkable 12 month turn around).

The transformation process means that WA Health now has a very robust foundation for procurement processes and activities with clearly defined roles and responsibilities. It’s also helped us improve our relationships with our providers and vendors.

Procurious: How is Procurement now perceived within WA Health?

Kylie: I think the critical success factor here is that we now have a seat at the executive table and are viewed as essential in the strategic planning of the organisation. This shows that we’ve earned the trust of the organisation. We earned this trust by pointing out where the department was exposed from a legislative point of view, but more importantly, by pointing out the holes in their fiscal buckets and, providing value through robust strategic business advice through procurement solutions that meet our organisations goals.

We were quickly able to point out where financial leakages were occurring. But more than that, we were able to suggest minor changes that stopped these leakages. We also quantified the dollar impact that implementing the changes had made to the organisation. Needless to say, after this, we found that we very quickly got the buy-in we needed.

As I mentioned earlier, another critical factor that lifted our perception was changing the way we spoke about our work. We’ve lifted the level of our conversations up to a point where we are now addressing real business problems faced by the department. By speaking their language, we’ve earned their trust. The procurement department is now seen as a trusted business partner at WA Health.

Kylie, once again, we would like to congratulate you again on this fantastic achievement and thank you for taking the time to share your story with Procurious. This there anything else you’d like to add?

Kylie: I would like to give some praise to my team here at WA Health. They have been remarkable; there is no other word for it.

We are only a small team, but they are the most outstanding, passionate, committed, driven group of individuals you are ever likely to meet. You simply can’t achieve things like this alone; you need people who share your passion and your drive. I really can’t speak highly enough of them.

Apple Pay ushers in a new dawn of payments on the go

Apple Pay has launched in the UK amid increased demand for smart wallets and connected services.

Apple Pay has launched in the UK

Apple Pay is now live in the UK – the first country outside of the US to offer the contactless payment service.  For the launch both Visa and MasterCard have announced they will offer cardholders immediate access to the new service, granting them the freedom to use their cards where and how they want with a seamless experience.

Security and privacy is at the core of Apple Pay. When you add a credit or debit card to Apple Pay, the actual card numbers are not stored on the device, nor on Apple servers. Instead, a unique Device Account Number is assigned, encrypted and securely stored in the Secure Element on your device. Each transaction is authorised with a one-time unique dynamic security code.

Mark Barnett, President of MasterCard UK & Ireland, said of the launch: “Innovation in UK payments means it’s fast becoming the most advanced market in the world and the arrival of Apple Pay heralds this new era. We will see more change in the next five years than we’ve seen in the last 50, bringing even more convenience and security for consumers.”

Steve Perry, Chief Digital Officer at Visa Europe, comments on the rollout: “Apple’s entry to the market represents a critical piece of the mobile payments jigsaw. This is a pivotal moment for digital payments and one that demonstrates the momentum behind mobile and contactless services.

“Visa Europe has led the rollout of NFC payments ever since we launched the first contactless cards and terminals in 2007. Today there are more than 1.5 million Visa contactless terminals in stores across Europe – all ready to take mobile payments. Apple’s decision to enter the market reflects the scale of opportunity that exists in digital payments today. Its support will drive awareness and usage of contactless services around the world – we anticipate a “halo effect” that will benefit all players in the mobile payments ecosystem.”

Are there other players too?

Indeed. It’s not just Apple innovating in the digital payment sector… Elsewhere, Android Pay is also vying for dominance in this lucrative space.

Android Pay is Google’s direct response to Apple’s mobile payment system, and a successor to Google Wallet, which (notably) has gained little traction over the past four years. Samsung Pay is also set to debut this September in both the handset maker’s own territory and the US.

And although Apple has dominated the lion’s share of the headlines, banks, card providers and retailers are keen to ensure they don’t get left behind – with each championing a digital payment system of their own. Zapp will soon allow those with older smartphones to make bank debit payments, Barclays’ customers can use Pingit and PayM, while Visa card holders are also able to take advantage of the V.Me service.

Of course if you’re after a complete card replacement then you’d be wise to look at Wocket is doing. Wocket has been designed to protect your identity and replace your old wallet. It can save all of your cards to one place, securing their details with a combination of pin and biometric voice print technology.

But it’s not just your wallet that’s getting an upgrade… At Mobile World Congress Shanghai 2015 – Visa unveiled its first foray into connected car commerce. The proof-of-concept solution is powered by Visa Checkout (and other innovative mobile technologies) to create in-car purchase experiences that are secure, convenient and easy. If successful it is envisaged to be applied to quick service restaurants, petrol stations, car hire and parking services.

Is a lack of collaboration to blame for procurement perception gap?

Is a lack of collaboration between procurement and critical business functions to blame for squandering budgets of UK businesses?

Are procurement rule breakers squandering UK business budgets?

Procurement’s true value is held back by restrictive corporate cost saving edicts according to new research published today.

The ‘Procurement Perceptions’ study was carried out by Redshift on behalf of Wax Digital. It took into account the views of 200 procurement, finance, IT and sales & marketing department decision makers in medium to large UK organisations.

The main brunt of the report aims to address the scale of rule breakers using risky suppliers and spending without necessarily seeking permission from decision-makers.

Daniel Ball, Director, Wax Digital, says: “Business functions are not working effectively and closely with procurement experts to source the right suppliers, strategically manage their spending and ensure they are following compliant purchasing processes. This suggests a high level of maverick spending behaviour which can lead to poor value for money, cash flow issues and contract risk.

Daniel continues: “Procurement wants to control and influence departments’ supplier choices and spending, however, many of these other departments are pushing back, seeking more supplier and spending freedom and believing that procurement just gets in the way.”

The comments are backed-up by figures that reveal 24 per cent of procurement respondents said that supplier selection was a joint decision with the department in question. This is in stark contrast to the 8 per cent in IT, 6 per cent and 2 per cent in sales and marketing.

Procurement perception gaps

The study found that part of the problem lies in the perception of procurement amongst other departments. Procurement is typically viewed as being more administrative than strategic, while in reality the balance lies somewhere in the middle. In Wax Digital’s research Just 15 per cent of other department respondents saw procurement as mainly or wholly strategic but 46 per cent saw procurement as mainly or wholly administrative.

Other findings include: 54 per cent of procurement respondents say departments follow a formal tender process, compared to 24 per cent in sales and marketing.

36 per cent of procurement say they shortlist suppliers on behalf of these departments against their business requirements, but only 12 per cent in IT agree.

In conclusion Daniel offers a few recommendations: “This research indicates that there is still some distance to go by procurement, or a need for improved communication, before other critical departments understand the benefits of procurement, stop breaking the rules and close the perception gap.”

Businesses See Risky Supply Chains As Top Challenge

New survey says risky supply chains are a challenge for 77 per cent of businesses across North America and Europe.

Xchanging report says 77% of businesses see risky supply chains as challenge

Xchanging have recently issued the results of the second portion of its Procurement Study.

The survey polled 830 procurement decision makers regarding what they view as the top threats in the Procurement space.

Procurious covered the previous research here.

Xchanging’s research reveals the greatest external challenge for businesses’ operations is supply chain risk, with more than three quarters (77 per cent) of respondents claiming this is a challenge, and 17 per cent an ‘extreme challenge’.

Around two thirds of respondents claim to be challenged by regulation and audit (71 per cent); lack of supplier innovation (63 per cent); and fluctuations in currency (58 per cent) in their business operations.

Owing to the high number of respondents challenged by supply chain risk, Xchanging dug further into the specific supply chain threats faced by European and North American businesses.

Greek debt crisis and oil prices are both causes of concern

More than a quarter of respondents (28 per cent) see currency and exchange rate fluctuations as a significant external threat. This jumps to 35 per cent in respondents from mainland Europe, with the Euro still under pressure against the Pound and other major currencies, and nervousness in the region over Greece’s debt negotiations. 

Similarly more than a quarter of respondents (26 per cent) also cite oil prices as a major external threat to their businesses. Notably global oil prices having fallen sharply in recent months (by more than 40 per cent since last summer), leading to significant revenue shortfalls in many energy exporting nations and concerns about oversupply in some markets.

Coupa Software has acquired Australia’s InvoiceSmash

To the cloud! Coupa acquires InvoiceSmash to drive B2B commerce transformation.

Coupa has acquired InvoiceSmash

Cloud-based spend management provider Coupa last week acquired InvoiceSmash, an Australian company that manages the accounts payable and invoicing process.

The motivation for the acquisition is thought to be the fact that the data extraction capability of InvoiceSmash will facilitate further automation of Coupa’s invoicing and accounts payable offerings.

At the announcement of the acquisition it was claimed that the move was: “Designed to help enterprises of all sizes digitize and automate the often painful accounts payable and invoicing process, the InvoiceSmash innovations will be embedded into Coupa’s organic cloud-based platform to instantly convert emailed invoice attachments into the field formats required by Accounts Payable.”

Rob Bernshteyn, CEO of Coupa, said: “Our acquisition of InvoiceSmash is a huge step forward for the industry. The InvoiceSmash technology will help businesses large and small transact faster and easier than ever before with significantly less manual intervention,” said Bernshteyn.

“The InvoiceSmash technology will be a hugely value-added extension to our organic suite of capabilities and will drive immediate value, supporting the very essence of Coupa’s Savings-as-a-Service approach.”

How does InvoiceSmash work?

According to company’s website (which is now jointly branded with the Coupa logo), InvoiceSmash works in the following way:

  1. Get it to InvoiceSmash – Send invoices to InvoiceSmash via your unique email address or upload it. InvoiceSmash extracts the data and prepares it for posting to your accounting system.
  1. Your Approval – During approval you set the purchase just the way you want it. Contact, General Ledger, Job, Item and Inventory coding is fast and easy. Contact / inventory creation is just one click. Hands free auto-submission is also possible for repetitive invoices!
  1. It Remembers! – After the invoice is posted to your accounting system, InvoiceSmash remembers your choices and will apply them to future invoices. Submitted invoices are archived in the cloud. No more data entry!

The InvoiceSmash system is said to be an intelligent learning solution that can detect changes in supplier invoice formats. New invoice layouts are memorised by the system, so that if they appear again they can be quickly processed.

At the time of writing, the terms of the acquisition had not been announced. Coupa did state however, that it expected to make the InvoiceSmash capabilities available to a select customer group by the end of 2015.

What Do We Really Mean When We Talk ‘Talent’ In Procurement?

Depending with whom you speak, you get very different views on the subject of talent in procurement.

What do we mean when we talk 'talent' in procurement?

 

When we say talent, we don’t mean the ability to sing, dance or unicycle down the street whilst juggling flaming swords (although that would be a useful skill to have…), but having the skills and knowledge necessary to cope with the expanding role of procurement in organisations.

In some sections of the procurement profession, authors and business leaders believe that procurement is ‘doomed’, with procurement struggling to attract the right, talented individuals into the profession, while simultaneously limiting itself by not developing the right skill sets to deal with the changing role.

On the other side, some business leaders believe that the next generation is key and that, with a bit of effort, procurement can turn this around and attract the key talent it requires. By using social media, CPOs can understand how to stay ahead of the game and attract good procurement professionals, while strides can also be made by investing time and effort at university level students.

The Bad News

Spend Matters Editor, Jason Busch, argues that procurement skill sets are not changing with the times, or at least not changing as quickly as the skill sets in other parts of the organisation. A further argument is that the people who you have in procurement now, are not necessarily the people you need to take the profession that next step.

It has been widely quoted that 70 per cent of companies in the UK feel they have a shortage of skilled staff. The story is the same across the world, with similar results being posted in Australia and North America.

CPOs are expecting and demanding more from their teams, but have concerns that individuals are missing the crucial skills required for success. Among the ‘missing’ skills are some biggies too:

  • Negotiation
  • Stakeholder Engagement
  • Strategic Thinking
  • Adopting of Technological Enablers

However, for some, the issue is being able to combine all the basic procurement skills with subject matter expertise, something that is becoming less common in an age where the workforce is more mobile and less likely to stay in one place for an extended period of time.

What’s the Problem?

For a while now, associations such as CIPS and ISM, and organisations like Procurious, have been trying to change the perception of procurement as a career. However, old attitudes and perceptions are proving hard to shift.

The next generation coming through education now are looking at procurement and not seeing the potential for advancement and a perceived limited career path is dulling the attraction. It’s only recently that procurement or supply chain heads are taking up executive positions at major organisations in the public eye (think Tim Cook at Apple).

Financial compensation at the top level of the profession is also not keeping with pace with other functions. While CFO compensation has gone up by double digits on average each year, in some cases CPOs have been lucky to see a 3% to 4% increase.

The Good News

If that all sounds pretty bleak, there is light at the end of the tunnel. In the first 6 months of 2015, organisations have been making very public efforts to attract new talent and showcase procurement.

The UK Government has launched a new public sector procurement apprenticeship scheme, highlighting the experience to be gained working on high profile, high-value projects that affect millions of people. You can find out more about the scheme here.

Other organisations, like NHS Procurement and Skills Development Scotland, are actively working with universities, realising that by recruiting these fresh minds, they are also accessing a valuable source of innovation, new strategic viewpoints and thought processes.

How to Do It

There’s no sure-fire way of attracting the ‘right’ talent to your organisation as different people always look for different things. But we’ve pulled together some good tips for you to think about:

  • What is Procurement? – Define it well, offer prospects, tell the wavering students why this is a great opportunity
  • Pass on Skills – Around 60 per cent of procurement uses mentorship; ensure that skills are passed on and not lost
  • Professional Development – A big one for the ‘millennial’ generation, but critical for helping to retain talent too
  • Interesting Roles – Being able to be mobile, work on different projects and gain experience across the function
  • Grow Talent – Make sure you hire the right people. Assess things like cultural fit and personal values
  • Social Media – Don’t underestimate the power of social media and learn how it can benefit you

Procurious founder Tania Seary is travelling through Australasia in the next few weeks and will talk about procurement talent. Why not let us know if Tania is visiting your organisations, or contact us if you’d like to get her to come and talk to you.

Meanwhile, here are the big news headlines that should be catching your eye in procurement and supply chain this week.

Key takeaways from George Osbornes’s summer Budget

  • The government announced plans for a new apprenticeship levy, which would be paid by all “large employers”. Eddie Tuttle, senior policy and public affairs manager at the CIOB, said: “The government has set itself an ambitious target of delivering 3 million apprenticeships over the next five years – equivalent to 600,000 new apprenticeships a year. The introduction of a new apprenticeship levy is a big ask for business, but one that recognises the acute skills shortages industries such as construction will face in the future unless significant investment is made in training. And if the government is to deliver on its ambitions, more needs to be done to promote construction as a viable career path.
  • An increase in the national minimum wage, now branded the “National Living Wage” that will rise to £9 by 2020, should help some low paid workers. Iain McIlwee, chief executive of the British Woodworking Federation, says: “And looking at the direct impact on SMEs in the construction supply chain, while an increase in the minimum wage for the lowest paid is welcome, we cannot ignore the fact that such increases have a knock-on effect throughout a business, creating inflation in a firm’s total wage bill.“Our latest State of Trade survey among Britain’s joinery manufacturing firms already reveals that 73 per cent of respondents had seen a sharp increase in labour costs, and this is fast becoming a constraint on business.
  • The government is inviting bids for a new round of Enterprise Zones, which will encourage towns and districts to work with local enterprise partnerships to develop bids.
  • And finally: Public sector pay will increase by 1 per cent a year for four years from 2016-17.

Read more at Construction Manager

Nordic report calls for less fast fashion

  • A new report which has mapped out a more sustainable road-map for the Nordic textile industries recommends that replacing fast fashion, reducing resource inputs and encouraging local sourcing should become key priorities.
  • The report was commissioned by the Nordic Council of Ministers and includes work from the National Institute for Consumer Research, the Sustainable Fashion Academy, the Nordic Fashion Association/nicefashion.org, the Swedish Environmental Research Institute and the Copenhagen Resource Institute.

Read more at Ecotextile [subscription site]

India’s Snapdeal to invest $200m in strengthening supply chain services

  • India’s largest online marketplace, Snapdeal, is planning to invest around $200m in bolstering its supply chain services including warehousing, logistics and training and sale assistance.
  • The company aims to be able to host around 1 million sellers over the next three years.
  • In March, Snapdeal had acquired a 20 per cent stake in Gojavas that helps it with last-mile delivery. Following the acquisition, Snapdeal had committed to invest between $150 and $200m over the next one year in logistics and supply chain.

Read more at LBR