Five facts about procurement and supply chain in the news this week:
1) Analysts had predicted $4 billion of synergies in the first year following Pfizer’s $160 billion dollar purchase of Allergan, and were disappointed by the announced $2 billion.
2) Increasing concerns about human rights abuses in the seafood supply chain has prompted Nestlé to create an action plan on seafood sourced from Thailand. It is aimed at protecting workers from abuse, improving working conditions, and tacking child and teenage labour.
3) The UK government is providing £50 million for two new agricultural technology centres in York to support innovation and skills in the food and farming supply chain, according to the spending review and autumn statement. It will enable the UK to grow its share of the £250 billion global agri-tech market, the government said.
4) In a global survey on supply chain visibility by the Business Continuity Institute (BCI) and Zurich Insurance Group, three types of disruption made it into the top 10 for the first time in the seven years since the report was launched: product quality incident, business ethics incident and lack of credit.
5) Changing Black Friday marketing strategies could demand increased flexibility in the retail supply, according to a report from Jones Lang La Salle. Its Grey is the New Black report says that a potential trend for consumers and retailers to avoid the frenzy of shops on Black Friday could create more demand online.