Generative AI (GenAI) has the potential to transform the contracting practices of companies by significantly reducing the contract authoring, review times, and making negotiations of commercial agreements more effective.

Mohamed El-Erian, the former CEO of the investment management firm PIMCO, warned that shipment disruptions caused by Houthi attacks could cause shipping costs to increase while hindering global economic growth.

The Port of Los Angeles ended up handling roughly 8.6 million TEUs in 2023, a 13% drop off when compared to 2022.

Companies planning longer-term fulfillment strategies for growth and resilience will need direction in reaching "order and delivery excellence," allowing them to move beyond siloed operations.

The Southeast Asian nation will likely see weaker demand from Indonesia, its top buyer last year, Thai Rice Exporters Association Honorary President Chookiat Ophaswongse said January 4

South Korea sold $11.3 billion of goods to the U.S. in December 2023, beating out China by roughly $400 million.

A call to action for supply chain and procurement leaders to demand better intelligence platforms.

The shutdown comes about a week after Daihatsu said it was suspending all vehicle shipments after it was found that the organization used improper testing for 64 vehicle models.

ArcelorMittal said that the contract would provide its operations in Lazaro Cardenas in the state of Michoacan with gas from Waha, Texas.

From scenario planning to relationship building, procurement teams are in a new era of risk management that will be crucial for long-term success.