Industry news

No one quite agrees on how to precisely define the metaverse, but there is no denying that we are already seeing glimpses of it and what it might become. In this episode of the At the Edge podcast, Cathy Hackl—foremost futurist, metaverse expert, and author—joins McKinsey’s Mina Alaghband to share her informed take on what the metaverse is, how it’s currently manifesting, and what it might evolve into in the future. She also discusses the potential opportunities—and responsibilities—for businesses as the metaverse develops.

Listen to the full podcast or read the transcript here.

As supply chain leaders continue to tack against the winds of change in the workplace, issues relating to ethics and compliance (E&C) abound.

It can be challenging to engage employees amid such dizzying change. A recent Gallup report found that employee engagement rates in manufacturing are the lowest of any industry in the U.S., with only 25% of the workforce considered to be “engaged.” Reinforcing company values through E&C training programs can help in many ways.

In fact, an industry-specific segment of data from the LRN Benchmark of Ethical Culture reveals an opportunity to improve the state of ethical culture in the manufacturing sector by strategically and proactively reinforcing company values, especially within production teams.

Looking ahead to 2023, following are some of the top trends that will affect supply chain leaders in the E&C space.

Read more on SupplyChainBrain here.

Environmental, social, and governance (ESG) practices are the cornerstones of sustainable businesses. The widespread adoption of technologies for ecosystem preservation and environmental problem management highlights the crucial role technology plays in catalyzing ESG ambitions.

The Malaysian government has not wavered in its commitment to prioritize any ESG-focused development initiatives and technological innovation. Bank Negara Malaysia (BNM), for instance, has issued the 2022-2026 Financial Sector Blueprint that emphasizes their goals for sustainable growth, which concurrently promotes the 12th Malaysia Plan’s goal to make Malaysia ‘prosperous, inclusive, and sustainable’.

According to the KPMG 2022 CEO Outlook survey, 71 percent of CEOs in Asia Pacific agree that their organization’s digital and ESG investments are inextricably linked. Having reliable information and appropriate technological solutions are crucial to push the organization’s ESG agenda forward.

Read more on Business Today here.

Companies must invest in training alongside use of new supply chain technology to maximise its effectiveness, according to a report.

The Global Risk Landscape 2022 report, by consultancy BDO, said investment in improving supply chain resilience and efficiency had risen during the pandemic as the cost of disruption grew.

A survey of over 500 C-Suite executives across the globe found 40% had invested in new supply chain technologies, but to “bring that tech to life, you’ve got to look at the business case for investing in your team”.

Read more on CIPS Supply Management here.

• GovTech refers to the public sector’s use of emerging technologies and digital products, often provided by start-ups and SMEs.

• GovTech solutions address problems across the entire spectrum of public tasks with the potential to digitally transform the public sector at large.

• Strengthening GovTech requires a better understanding of innovative solutions in the public sector and a stronger focus of public procurement on those solutions

Read more on World Economic Forum here.

Teleperformance (Paris:TEP), the global leader in outsourced customer and citizen experience management and related digital services, was named to PEOPLE’s "100 Companies that Care" for 2022. This is the sixth year that PEOPLE has partnered with Great Places to Work® to spotlight employers that have gone above and beyond to create positive workplaces for their staff and the community at large. Companies That Care is the only company culture award in America that selects winners based on the level of care and concern for their employees, their communities, and the environment.

Read more on BusinessWire here.

As head of global ESG at KPMG International (and head of ESG, KPMG UK), John McCalla-Leacy is responsible for embedding ESG practices into KPMG’s global strategy – and its UK firm’s strategy. He also leads on the delivery of ESG solutions, products and services to KPMG’s clients.

Here he reveals his insights into the direction of travel for ESG and the sustainability skills challenge in conversation with Environment Analyst’s Steve Gilmore.

Read more on Environment Analyst here.

LONDON (Reuters) -Britain said on Wednesday it would strengthen its cybersecurity laws to better protect essential services like water, energy and transport by bringing outsourced information technology services under the scope of existing regulations.

"The services we rely on for healthcare, water, energy and computing must not be brought to a standstill by criminals and hostile states," cyber minister Julia Lopez said.

The government said it would update 2018 regulations which were designed to make sure companies providing critical services improved their cyber security.

Citing cyber attacks like 'CloudHopper', in which hackers targeted big tech companies, Britain's digital department said the rules needed to be updated to cover companies that provide services such as security monitoring and digital billing

Read more on Reuters here.

An outlook on the importance of building supply chain sustainability.

In brief

• Supply chain practitioners are increasingly adopting strategies to build a vigorous system.
• Cost reduction is not the only focus of organizations, as was earlier
• Technology can help digitize the supple chain and make it more transparent and resilient. 

Read the full article on EY here.

Unilever’s new chief procurement officer Willem Uijen has outlined how the company is using its sourcing strategy and supplier collaboration to “raise industry standards”.

Uijen, who started the role in September, said in a blog suppliers who demonstrated action taken on sustainability standards would be prioritised.

Read more on CIPS supply management here.