Silverlight Authors: Automic Blog, Michael Kopp, AppDynamics Blog, Kaazing Blog, Steven Mandel


Yes, Four Ways Millennials Really Are Changing Modern Supply Chains

We can definitely observe the millennial zeitgeist in procurement and SCM software worldwide.

This has been cross-posted from procurement.world.

Last December, the Boston-based PR agency, Corporate Ink, published an article about the impact of the millennial generation on modern supply chain trends. If you haven't heard of it, "millennial" is a demographic term for the young and tech-savvy, most commonly born in the 90s, who can't remember a time without a home internet connection.

As an important consumer and professional group, the values of this generation have a massive impact on the business world. Older millennials are already moving into middle management in more established corporations or C-level in start-ups. The article identified four key impacts of millennial consumers on mostly B2C supply chain, but this also really strikes a chord when looking at overall supply chain and procurement trends, even away from the world of retail and B2C. And we can definitely observe the millennial zeitgeist in customer expectations of procurement and SCM software worldwide. So let's look at the four impacts from this viewpoint.

Great expectations: Getting what you want, when and where you want it

The expectation for software to be flexible is at an all-time high. The growth in cloud computing also means that customers increasingly expect a software solution that you can log in to from your web browser. More and more business processes are going into the cloud and procurement is no exception. You need an RFQ workflow approval from a colleague sitting in a bathrobe in a hotel room on the other side of the world? No problem.

Digital mavens

The growth of digital nativism means that expectations of software are higher, especially automization, optimization, and smooth workflows. In the millennial age of business, it's a given that as much manual workload from small tasks should be done away with as possible. It goes without saying that this applies to procurement software.

Fear of commitment: Why own when you can rent?

Obviously, we've got to talk about SaaS here. SaaS doesn't just introduce flexibility, it also reduces capital investment - renting rather than owning is how millennial consumers and businesses have been able to survive and prosper. Also, no one likes being locked into one system. There is a growing expectation for software to be integratable into external or pre-existing systems - to be able to mix and match. An offshoot of this is hybrid computing - systems that are part-cloud, part-on-premise. SaaS delivers this functionality. What's not to like for a millennial?

Clean labels: Social responsibility is no longer optional

2015 was the year of CSR obligations in supply chain. The UK Modern Slavery Act came into force, obliging large UK companies to release information showing their efforts to ensure that their supply chains are free from forced labour. EU Directive 2014/95/EU will see companies EU-wide reporting on their supply chain sustainability in 2017. And if you haven't seen it yet, the John Oliver video on clothing retail speaks volumes about how aware millennials are of CSR issues in SCM. It's really difficult to keep track of CSR data without the right technology. Our POOL4TOOL partners EcoVadis are a great example of how procurement organizations can integrate CSR data into their software.

Culture and zeitgeist influence the people, processes, and technology that shape the way we do business in a powerful way, so it's important to understand younger generations to see what might be coming our way next...

More Stories By Charlotte Spencer-Smith

Charlotte Spencer-Smith is responsible for content for English-speaking markets and joined POOL4TOOL in 2015. She previously worked at the UN for three years and runs a personal Twitter account tweeting on sustainability in supply chain management.

@ThingsExpo Stories
DXWordEXPO New York 2018, colocated with CloudEXPO New York 2018 will be held November 11-13, 2018, in New York City and will bring together Cloud Computing, FinTech and Blockchain, Digital Transformation, Big Data, Internet of Things, DevOps, AI, Machine Learning and WebRTC to one location.
DXWorldEXPO LLC announced today that "Miami Blockchain Event by FinTechEXPO" has announced that its Call for Papers is now open. The two-day event will present 20 top Blockchain experts. All speaking inquiries which covers the following information can be submitted by email to [email protected] Financial enterprises in New York City, London, Singapore, and other world financial capitals are embracing a new generation of smart, automated FinTech that eliminates many cumbersome, slow, and expe...
DXWorldEXPO | CloudEXPO are the world's most influential, independent events where Cloud Computing was coined and where technology buyers and vendors meet to experience and discuss the big picture of Digital Transformation and all of the strategies, tactics, and tools they need to realize their goals. Sponsors of DXWorldEXPO | CloudEXPO benefit from unmatched branding, profile building and lead generation opportunities.
The best way to leverage your Cloud Expo presence as a sponsor and exhibitor is to plan your news announcements around our events. The press covering Cloud Expo and @ThingsExpo will have access to these releases and will amplify your news announcements. More than two dozen Cloud companies either set deals at our shows or have announced their mergers and acquisitions at Cloud Expo. Product announcements during our show provide your company with the most reach through our targeted audiences.
DevOpsSummit New York 2018, colocated with CloudEXPO | DXWorldEXPO New York 2018 will be held November 11-13, 2018, in New York City. Digital Transformation (DX) is a major focus with the introduction of DXWorldEXPO within the program. Successful transformation requires a laser focus on being data-driven and on using all the tools available that enable transformation if they plan to survive over the long term. A total of 88% of Fortune 500 companies from a generation ago are now out of bus...
With 10 simultaneous tracks, keynotes, general sessions and targeted breakout classes, @CloudEXPO and DXWorldEXPO are two of the most important technology events of the year. Since its launch over eight years ago, @CloudEXPO and DXWorldEXPO have presented a rock star faculty as well as showcased hundreds of sponsors and exhibitors! In this blog post, we provide 7 tips on how, as part of our world-class faculty, you can deliver one of the most popular sessions at our events. But before reading...
Cloud Expo | DXWorld Expo have announced the conference tracks for Cloud Expo 2018. Cloud Expo will be held June 5-7, 2018, at the Javits Center in New York City, and November 6-8, 2018, at the Santa Clara Convention Center, Santa Clara, CA. Digital Transformation (DX) is a major focus with the introduction of DX Expo within the program. Successful transformation requires a laser focus on being data-driven and on using all the tools available that enable transformation if they plan to survive ov...
As IoT continues to increase momentum, so does the associated risk. Secure Device Lifecycle Management (DLM) is ranked as one of the most important technology areas of IoT. Driving this trend is the realization that secure support for IoT devices provides companies the ability to deliver high-quality, reliable, secure offerings faster, create new revenue streams, and reduce support costs, all while building a competitive advantage in their markets. In this session, we will use customer use cases...
DXWorldEXPO LLC announced today that ICOHOLDER named "Media Sponsor" of Miami Blockchain Event by FinTechEXPO. ICOHOLDER give you detailed information and help the community to invest in the trusty projects. Miami Blockchain Event by FinTechEXPO has opened its Call for Papers. The two-day event will present 20 top Blockchain experts. All speaking inquiries which covers the following information can be submitted by email to [email protected] Miami Blockchain Event by FinTechEXPO also offers s...
With tough new regulations coming to Europe on data privacy in May 2018, Calligo will explain why in reality the effect is global and transforms how you consider critical data. EU GDPR fundamentally rewrites the rules for cloud, Big Data and IoT. In his session at 21st Cloud Expo, Adam Ryan, Vice President and General Manager EMEA at Calligo, examined the regulations and provided insight on how it affects technology, challenges the established rules and will usher in new levels of diligence arou...
Dion Hinchcliffe is an internationally recognized digital expert, bestselling book author, frequent keynote speaker, analyst, futurist, and transformation expert based in Washington, DC. He is currently Chief Strategy Officer at the industry-leading digital strategy and online community solutions firm, 7Summits.
Digital Transformation and Disruption, Amazon Style - What You Can Learn. Chris Kocher is a co-founder of Grey Heron, a management and strategic marketing consulting firm. He has 25+ years in both strategic and hands-on operating experience helping executives and investors build revenues and shareholder value. He has consulted with over 130 companies on innovating with new business models, product strategies and monetization. Chris has held management positions at HP and Symantec in addition to ...
Cloud-enabled transformation has evolved from cost saving measure to business innovation strategy -- one that combines the cloud with cognitive capabilities to drive market disruption. Learn how you can achieve the insight and agility you need to gain a competitive advantage. Industry-acclaimed CTO and cloud expert, Shankar Kalyana presents. Only the most exceptional IBMers are appointed with the rare distinction of IBM Fellow, the highest technical honor in the company. Shankar has also receive...
Enterprises have taken advantage of IoT to achieve important revenue and cost advantages. What is less apparent is how incumbent enterprises operating at scale have, following success with IoT, built analytic, operations management and software development capabilities - ranging from autonomous vehicles to manageable robotics installations. They have embraced these capabilities as if they were Silicon Valley startups.
Internet-of-Things discussions can end up either going down the consumer gadget rabbit hole or focused on the sort of data logging that industrial manufacturers have been doing forever. However, in fact, companies today are already using IoT data both to optimize their operational technology and to improve the experience of customer interactions in novel ways. In his session at @ThingsExpo, Gordon Haff, Red Hat Technology Evangelist, shared examples from a wide range of industries – including en...
The standardization of container runtimes and images has sparked the creation of an almost overwhelming number of new open source projects that build on and otherwise work with these specifications. Of course, there's Kubernetes, which orchestrates and manages collections of containers. It was one of the first and best-known examples of projects that make containers truly useful for production use. However, more recently, the container ecosystem has truly exploded. A service mesh like Istio addr...
Rodrigo Coutinho is part of OutSystems' founders' team and currently the Head of Product Design. He provides a cross-functional role where he supports Product Management in defining the positioning and direction of the Agile Platform, while at the same time promoting model-based development and new techniques to deliver applications in the cloud.
Predicting the future has never been more challenging - not because of the lack of data but because of the flood of ungoverned and risk laden information. Microsoft states that 2.5 exabytes of data are created every day. Expectations and reliance on data are being pushed to the limits, as demands around hybrid options continue to grow.
Business professionals no longer wonder if they'll migrate to the cloud; it's now a matter of when. The cloud environment has proved to be a major force in transitioning to an agile business model that enables quick decisions and fast implementation that solidify customer relationships. And when the cloud is combined with the power of cognitive computing, it drives innovation and transformation that achieves astounding competitive advantage.
Poor data quality and analytics drive down business value. In fact, Gartner estimated that the average financial impact of poor data quality on organizations is $9.7 million per year. But bad data is much more than a cost center. By eroding trust in information, analytics and the business decisions based on these, it is a serious impediment to digital transformation.