Posted: September 29th, 2014 | Author: | Filed under: Economic Indicators, USA | Tags: usa economy, usa economy growth | No Comments »
The Commerce Department on Friday raised its estimate of growth in gross domestic product to a 4.6 percent annual rate from the 4.2 percent pace reported last month. The best performance since the fourth quarter of 2011 reflected a faster pace of business spending and sturdier export growth than previously estimated.
The United States economy’s bounce-back last quarter from a dismal winter was even faster than previously thought, a sign that growth will likely remain solid for the rest of the year. It grew at its fastest pace in 2-1/2 years in the second quarter with all sectors contributing to the jump in output in a bullish signal for the remainder of the year.
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Posted: September 26th, 2014 | Author: | Filed under: Best practices, Gem, Negotiating with Suppliers | Tags: negotiation, rfp, supplier, supplier negotiation, tradeshow | 2 Comments »
Dear Purchasing Professional,
We usually don’t get to speak with you directly when we respond to an RFP. But if we could, this is what we’d say.
We’d like you to know that to get the best value when buying custom tradeshow exhibits you need to take a slightly different purchasing approach. These products require creative thinking (like advertising), and work best when uniquely crafted to fit your company’s needs.
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Posted: September 24th, 2014 | Author: | Filed under: Australia, China, Commodities, Iron ore, Metals, Steel | Tags: iron ore australia, iron ore china, iron ore glut, iron ore mine, iron ore price | No Comments »
Following a short-lived rally last week that took the commodity to $85 per tonne, the benchmark iron ore price for immediate delivery at the port of Tiajin in China dropped 2.3 per cent to $79.80 per tonne overnight on Monday, the lowest price since September 17, 2009.
Through one of the worst periods for the commodity since the financial crisis, iron ore has climbed just three times in the past 26 trading sessions, with red figures seen in the last six after a surprise 3.9 per cent bounce at the start of last week.
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Posted: September 23rd, 2014 | Author: | Filed under: China, Commodities | Tags: china commodities, china slowdown, commodities slowdown | No Comments »
The Bloomberg Commodity Index dropped 0.8 percent to 118.5683 at 1:52 p.m. in New York, after touching 118.2027, the lowest since July 17, 2009. Commodities are 12 percent lower this quarter, set for the biggest such loss since the financial crisis in 2008.
China’s Finance Minister Lou Jiwei said growth in Asia’s largest economy faces downward pressure and reiterated that there won’t be major changes in policy in response to individual economic indicators. Group of 20 finance chiefs and central bankers said low interest rates could lead to a potential increase in financial-market risk, as major economies rely on monetary stimulus to bolster uneven growth.
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Posted: September 21st, 2014 | Author: Rod Sherkin | Filed under: Best practices, Gem, Negotiating with Suppliers | Tags: negotiation | No Comments »
Suppliers often use wage increases to justify nudging up prices each year, usually 1 or 2%. And it’s hard to argue: – seems reasonable, and it’s less than inflation.
But wages aren’t the real issue – labor costs are.
And the reality is that the average cost of a ‘unit of labor‘ is about the same today as it was 5 years ago.
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Posted: September 19th, 2014 | Author: | Filed under: Chemicals, ethylene, Europe, USA | Tags: ethylene europe, ethylene production, ethylene supply, US spot ethylene price | No Comments »
Ethylene prices continue to be high in the spot ethylene market because of three ongoing cracker shutdowns and one scheduled shutdown at the end of October. At the beginning of this week, front-month Williams System ethylene traded at 74 cents/lb ($1,631/tonne) and then 75 cents/lb, up from a trade at 73 cents/lb the previous day.
US spot ethylene prices hit a 29-month high on Tuesday on the back of two trades, tracking continued tight supply and low inventory levels.
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Posted: September 16th, 2014 | Author: Tom Bowers | Filed under: CSR in purchasing, Gem | Tags: corporate social responsibility, CSR | No Comments »
Commodity production in many parts of the world causes huge problems for local communities. Extractive industries located in areas with poor environmental protection and enforcement can be particularly damaging.
For example this contentious aluminum refinery in Niyamgiri, India: The battle for Niyamgiri
Should purchasers have a role in influencing supply chains by avoiding companies with dubious social and environmental ethics? Would this be interfering with domestic governance and development, or does CSR (corporate social responsibility) pave the way for this type of decision? Are purchasers in a position to obtain and evaluate the information needed to make those decisions?
Posted: September 16th, 2014 | Author: | Filed under: Commodities, Energy, Energy, Oil, USA | Tags: gasoline price, gasoline usa, usa gasoline price | No Comments »
Retail gasoline prices often fall as summer vacation winds down, but the speed and size of the recent decline underscore shifts in energy markets that many analysts expect to be lasting. U.S. gasoline output climbed above 10 million barrels a day for the first time on record in late April, according to the EIA, and held above that level in 11 of the 19 weeks since then.
The average is $3.428 a gallon, down 6.2 percent since Memorial Day on May 26, AAA data show. That’s the largest decline from the start of the summer driving season since 2008. U.S. refineries operated at the highest-ever seasonal rates every week since July 4.
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Posted: September 15th, 2014 | Author: | Filed under: China, Indonesia, Japan, Malaysia, Rubber, Thailand | Tags: rubber, rubber glut, rubber price, rubber production, rubber stock, rubber thailand | No Comments »
Tokyo rubber futures prices, which set the global trend, fell last week to their lowest level since 2009, as concerns about oversupply and weak demand from top consumer China sparked heavy selling by speculators.
Commodity experts say the increase in acreage under rubber about seven years ago in key rubber producing areas like Thailand and Malaysia has now translated into higher supply.
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Posted: September 11th, 2014 | Author: Tom Bowers | Filed under: CSR in purchasing, Gem, Greening the Supply Chain | Tags: CSR, green purchasing, sustainability | No Comments »
The benefits of avoiding extraction and primary processing are usually significant, even when collection, transport and reprocessing of recycled material is taken into account.
An increasing range of recycled products are coming onto the market, such as glass, steel, aluminium, plastics and paper. Usually calculating the carbon benefit is reasonably straightforward. As the final products must perform to similar standards (whether from virgin or recycled materials) in order to compete in the market place, the carbon footprint during their ‘use phase’ will also be very similar.
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