Apple sold 150 million iPhones last year, each carrying dozens of parts made by other companies. That's why Apple is a perennial kingmaker among component manufacturers: Each time the company releases a model, some suppliers end up winners and others losers.

NASA on Tuesday awarded a pair of much-anticipated contracts, worth up to $6.8bn combined, to ferry astronauts to the International Space Station to Boeing and SpaceX in a deal that would allow the U.S. to launch astronauts into space from U.S. soil for the first time in years.

The issue of ethical sourcing is a point of contention among procurement and supply chain professionals. The general sentiment is that the balancing act of being globally competitive and remaining a genuine corporate citizen is getting harder and harder. This is especially true for the rag trade. Apparel companies are consistently faced with the challenge of reducing costs while upholding ethical labour practices within their supply chain. How procurement and supply chain professionals in the sector manage this plays an increasingly important role in protecting company margins, brand reputation and growth. So what are the issues and factors at play and how can the risks involved be managed?

Is it wise to take advantage of early-payment discounts offered by suppliers? Or should you make other use of your cash until payment is due? There are lots of things to consider.

The introduction of Apple's smart watch hardly surprised the journalist and analyst community by revealing anything truly "revolutionary" or unexpected. However, the wearable tech device launch next year is still expected to shake up the nascent sector's supply chain.

Getting bad publicity, losing customers and being subject to criminal consequences are just a few of the risks an organization can face when its procurement professionals are unaware of constantly changing social responsibility concerns.