2018 Review: Liquidation, Regulation, Innovation…and a Chicken Shortage?
First things first – Happy New Year! We hope your 2019 is off to a great start and that the rest of the year follows in much the same fashion.
2018 was an erratic year. You only have to look through the wide range of topics we’ve covered in the last 12 months to see evidence of that. A mixture of company scandals and mishaps, data privacy and regulation, technological innovation, and, of course, our favourite subject – supplier master data management.
We’ve picked out a few pieces below that we think are worth revisiting, so without further ado, let’s dive in.
Are procurement too good at their jobs? The £5.2bn Carillion collapse
While the collapse of a £5bn+ company might not be the cheeriest of ways to start our 2018 rundown, there’s no escaping the fact that Carillion’s liquidation was one of the year’s major stories.
The aftershocks of the construction and civil engineering company’s collapse in January will be felt for a long time to come, emphasising how important it is for other organisations to learn lessons from this sorry saga.
The KFC fiasco, why you really shouldn’t wing it
One of 2018’s more unexpected stories came in the shape of the KFC chicken shortage fiasco.
When a company, in this case a takeaway food chain, specialises in selling one particular type of product (so much so that it’s even part of the company’s name) then it’s a good idea to make sure you have enough of that product to meet demand, and that you’re working with a supplier that is capable of delivering what’s required. Something KFC learned the hard way last year when it switched from Bidvest Logistics (now Best Food Logistics) to DHL…and then swiftly back to Bidvest.
GDPR, Facebook, and why the supply chain is next in the data revolution
GDPR might not be quite as eye-catching as Carillion or KFC, but that doesn’t make it any less important.
After months of preparation, companies with operations in the EU finally had to come to grips with the new General Data Protection Regulation when it came into effect in May – something that will have far-reaching consequences for every business.
Can you apply machine learning to data cleansing?
As you may have noticed, there was plenty of discussion around the evolving fields of artificial intelligence (AI) and machine learning last year – including here at HICX.
While these emerging technologies still have a long way to go before they realise their full potential and apply machine learning to data cleansing, many companies are starting to implement new systems and methodologies in order to take advantage of these opportunities.
Burj Khalifa and the importance of strong foundations
Turning our attention back to our favourite topic, we also focused on the importance of building strong foundations in order to achieve long-lasting success.
The world’s tallest building, Burj Khalifa, is able to touch the sky thanks to the immense foundations it stands on. If this teaches us anything, it’s that it’s only possible to achieve something outstanding once you’ve put some serious time into the preparation and planning phase.
2018 was quite a year – now let’s see what 2019 has in store. Make sure you keep an eye on our blog for the latest industry news and expert insights.