Emerging technology services have revolutionised the sourcing industry. These disruptive technologies like autonomics, interface technologies, big data analytics and other computing technologies have permitted smaller companies to successfully challenge established incumbent businesses. Specifically, as incumbents focus on improving their products and services for their most demanding (and usually most profitable) customers, they may exceed the needs of some segments and ignore the needs of others.
Ever since the 2016 elections, America’s outsourced manufacturing has consistently been front-page news. Now news stories are shifting towards the larger world of foreign imports, rather than just outsourcing. That means new policies and taxes that will impact, well, just about everything! That means all consumer goods, cars, electronics and a lot more. But what about... cartoons? Yeah… what about the Saturday morning ghetto, Hanna-Barbera, The Simpsons, and the Cartoon Network?
By virtue of the risk adverse nature of the insurance sector, the sector has not been considered to be at the vanguard in terms of the adoption of new technologies.
Most businesses like to blame failed or protracted negotiations on an inability to reach agreement on the financials, contract terms, legal issues or some other business measure - but after 30 + years of contract negotiations experience, I’ve rarely seen a deal lost on these items. Negotiations are far more likely to falter due to lack of trust, or due to a weak relationship amongst the parties.
Professors Bengt Holmström (MIT) and Oliver Hart (Harvard) received the 2016 Nobel Prize in economic science in October for their work in the realm of contract theory and, most intriguing, the nature of contracts as being essentially incomplete.
In 2015, the Joint Economic Committee of the United States Congress reported that the fashion industry globally is valued at $1.2 trillion. (Ref. 1) Of that $1.2 trillion, more than $250 billion is spent annually in the United States alone and this number continues to grow. Current reports show that the retail value of the apparel and shoe industry in the USA was valued at almost $360 billion (and counting) in 2015. (Ref. 2)
Peter Dickinson is a partner at international law firm Mayer Brown and co-leads their global Technology Transactions practice; he's also a hugely respected thought leader and a regular contributor to Outsource, offering insight on a broad range of legal and technological issues. A perfect fit, in other words, for our Life Lessons series: take it away, Peter...
We caught up with Ed earlier this month at the SIG Global Summit in Carlsbad, California (where he also participated in our most recent Outsource Talks webinar: see below for more) to get his take on current trends in the space, his critical input into SIG's Executive Immersion Program (EIP), and the evolution of the role of the lawyer in sourcing and outsourcing - and much, much more...
We’ve just published the latest ISG Index, which reveals that the Europe, Middle East & Africa (EMEA) market saw solid regional growth in 3Q 2016. Combined third-quarter ACV reached €3.1 billion, up 22% over the previous quarter, with traditional and as-a-service sourcing contributing equally to the gains - both up 10% year-on-year. In addition to the increase in value, the volume of activity went up. The 494 contracts awarded in the year to date represent a 13% uplift – a record high in the region.
The first driverless cars in the UK are now being tested on the streets. “Cognitive robot” Amelia is proving to be a more popular service interface with residents of the London Borough of Enfield than her human predecessors. Technology that was once the preserve of science fiction is now becoming a daily reality. The future is here, ahead of time.
I always love hosting our Outsource Talks webinars – but today’s was even more enjoyable than usual, featuring as it did three remarkable professionals gathered together in the same place, rather than dialling in as is customary. Having Morgan Lewis’ Ed Hansen, Ivalua’s Gary Malhotra and Outsource columnist Thom Mead round a table here at the SIG Summit in California was a unique pleasure, generating as it did a delightful degree of interaction alongside the anticipated thought leadership.
Multi-supplier service is all the rage, together with its linking agent Service Integration and Management (SIAM). Wonderful in theory... How does one practically get multiple parties to collaborate towards a common end?
Experts agree it’s too soon to say what the mid-term effects of Brexit are going to be on the UK and European economy. Despite early signs of business and consumer confidence shrugging off doubts, we can surely all agree that we’re about to go into a period of major, structural change for the UK and the rest of Europe - which suggests the best response strategy business leaders can have is maximum flexibility.
From 25 May 2018, a new European General Data Protection Regulation (the “GDPR”) will apply and change the rules applicable to businesses that process “personal data” such as customer and employee data. Organisations will need to consider implementing new procedures in order to comply.
The data and cyber regulatory regime in the EU – which includes, for the time being at least, the UK – is undergoing a very significant shake-up. The new General Data Protection Regulation which will come into force on 25 May 2018 will bring a number of new measures into play such as much increased fines (up to the higher of 4% of annual worldwide turnover or 20 million euros, in some cases) and mandatory reporting of most data security breaches.