Organizations around the world lose an estimated 5 percent of their annual revenues to occupational fraud, according to a survey of certified fraud examiners who investigated cases between January 2012 and December 2013. Applied to the estimated 2013 gross world product, this figure translates to a potential total fraud loss of more than $3.5tr.
There's a custom in Washington that U.S. defense contractors don't talk trash about their competitors, at least not in public. After fiercely competing for multibillion-dollar Pentagon contracts, the winner often placates the loser with a piece of the action. When Lockheed Martin was awarded the contract to build the F-22 fighter jet, it hired Northrop Grumman to build the plane's radar. Boeing won the contract to build the Air Force's KC-46 tanker plane and asked Northrop and Raytheon to contribute key components. Everyone ends up happy. It's how it’s always been done.
"There are some horrible working conditions; kids as young as seven making surgical instruments; people losing limbs. It's horrendous," says Mahmoud Bhutta, consultant surgeon and founder of the British Medical Association's (BMA) Medical Fair and Ethical Trade Group, established in 2007. "Many of the companies [which supply the NHS] have been burying their heads in the sand."
In a recent decision affecting ocean freight operators, the International Maritime Organization's Marine Environment Protection Committee (MEPC) adopted amendments to the MARPOL Convention to set a date for the implementation of "Tier III" standards within emission control areas (ECAs) and to make the IMO Member State Audit Scheme mandatory.
Global shipping lines are increasingly shying away from handling cargoes to Iran as restrictions on banking and insurance continue unabated, despite an interim agreement between Tehran and the West that called for limited sanctions relief.
Taiwan Tobacco & Liquor Corp. (TTL) has deployed a radio frequency identification solution to ensure its products' authenticity, and to track the goods through its supply chain.
Wal-Mart Stores Inc. doesn't do things on a small scale. So when it moved to expand its global sustainability effort, the retailing giant acted true to form.
Throughout the logistics industry, food is one of the most demanding goods moved around the world. Statistics also show that it is also one of the most disposed products worldwide in relation to the produced quantity with 30 to 50 percent of food going to waste. The highest portion is on the consumers' side. But In the supply chain, a non-stop cold chain monitoring is the major instrument for food staying fresh and not rotting ahead of time. There are already several solutions in the field to collect data to monitor the cold chain. But most of these solutions are costly to install and to maintain and therefore only suitable for high-priced products such as pharmaceuticals. Wireless sensors that use the energy harvesting principle now overcome these challenges and open the door for a complete traceability of food at affordable costs.
ROI was founded 15 years ago to help Mercy Health Systems reduce overall supply chain expenses and improve patient care. Greg Goddard, project director for supply chain operations, discusses ROI's business model and how changes in U.S. healthcare are impacting the supply chain.