World of Procurement Weekly - July 19th
Obsession, CPOs Focused on ESG, Tested Contract Language
Hey Procurement Legends, I’m sharing less content this week for you to explore as a trial. I appreciate that these emails can be heavy with links. Let me know how it works for you or if you want MORE.
Anyway, I’ve been thinking about this quote this week from Naval Ravikant:
“To make an original contribution, you have to be irrationally obsessed with something”.
Mainly because I’ve come to the conclusion I am obsessed with Procurement.
And I’m working on some big deep dives into some industry papers that I think will be super useful for you all. These will be available to Paid Members soon.
JOB ALERT
For anyone earlier on in their career, this role could be incredible for you. Abi Saunders, my ex-colleague from 10x Banking is hiring in her team at The Bank of London.
They’re currently looking to hire a Supplier Manager Analyst in Belfast for a Hybrid position (more time at home than in the office). There might be flex on location (e.g. Abi is based in London.
Salary reflects the more junior band.
Recommended Books for Procurement Pros
As an Amazon Associate I earn from qualifying purchases.
Trade wars, pandemics, and chaos: How digital procurement enables business success in a disordered world - BUY HERE
Profit from the Source: Transforming Your Business by Putting Suppliers at the Core - BUY HERE
Chip War: The Fight for the World's Most Critical Technology - BUY HERE
The End of the World Is Just the Beginning: Mapping the Collapse of Globalization - BUY HERE
Trending Articles this Week
ESG Rises to #2 Top Priority for Procurement Execs: Deloitte Survey
ESG has become the second top priority for procurement executives, according to a Deloitte survey, with 72% of respondents citing "enhancing ESG/CSR" as a top enterprise priority. Key ESG factors targeted by CPOs included waste reduction and material circularity, followed by climate mitigation. While initiatives to quantify sustainability factors remain at an early stage, procurement professionals are collaborating with suppliers on ESG initiatives and incorporating ESG into core processes.
Global Insights
Meet Another Proponent of “Tested” Contract Language
The article discusses the prevalence of "tested" contract language in legal writing and the potential pitfalls of relying on language that has resulted in litigation. The author argues for clear and unambiguous language to avoid the need for court interpretation and to prevent litigation. The article also notes that proponents of "tested" language often do not provide evidence to support their position.
Tech/AI in the News
Quantum Computer Built by Google Can Instantly Execute a Task That Would Normally Take 47 Years
Google's Sycamore quantum processor, with 70 qubits, can execute a task that would take 47.2 years on a classical computer. Quantum computing has potential applications in cryptography, medicine, and materials science, but maintaining quantum coherence and developing efficient error correction methods remain challenges.
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Thanks for reading, legends.
Daniel