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Welcome to the CAPS Blog featuring all the most recent CAPS releases, newsletters, infographics, and more. 

Incorporating Environmental Sustainability Criteria into Procurement Decisions

Global firms face mounting pressure to improve their environmental sustainability from various stakeholders across the ecosystem, including customers, regulators, suppliers, employees, and shareholders. In this blog, learn more about the study, the research, and how companies are addressing these expectations, particularly concerning purchasing.

Top Uses for Generative AI

Results from a recent report from CAPS Research show that 38% of companies are using Generative AI for cleaning spend data, 29% use it to analyze marketing and category intelligence, and 26% to help users through requisitions, guided buying, etc. This data suggests engaging Generative AI in procurement could bring a significant boost to productivity and profitability.

Using AI in Procurement

62% of companies are currently using generative AI in procurement, according to a recent CAPS survey. However, only 15% of companies have generative AI governance policies in place, with 19% currently creating them. This indicates a significant percentage of companies are likely using Gen AI models without guidelines for protecting intellectual property and other sensitive data.

CAPS News-15 May 2024

Read about: Register for Sustainability Webinar, Member Engagement Report, ESG Barriers, Manufacturing, Tariffs

Factors During Supplier Selection

CAPS asked procurement practitioners to rank the most important ESG factors they consider when selecting suppliers. Safety, Social Sustainability, and Governance were the top 3, suggesting a greater focus on the humanitarian elements of the ESG agenda.

CAPS News-01 May 2024

Read about: ESG Requirements, Implementation Drivers, Sustainability Initiatives, Plastic Pollution, Shipping

Most Important ESG Practices

Across all manufacturing and services industries surveyed, sourcing from suppliers that comply with ethical ESG practices is most important. Interestingly, just over 30% of supply chain professionals feel reducing Scope 3 emissions is important, despite looming regulatory reporting requirements in California and Europe. 

Navigating the Storm: A Retrospective on Logistics & Freight Challenges

Global freight has increasingly become a focal point as it faces mounting risks and complexities. Recognizing this, CAPS Research is investing more time and research into the area of logistics and freight to build out metrics and best practices. This is critical as our data shows that more and more supply management executives have responsibility in this area. To better understand the role and importance of logistics and freight, we must take a deeper, yet retrospective glance at its significance in our profession.

CAPS News-17 April 2024

Read about: Nearshoring Framework and Strategies, Sourcing Steel, Managing Geopolitical Risks, AI Degree, Payment Fraud

Prioritization of CO2 Reduction

In a recent survey of Supply Management leaders, 30% ranked the prioritization of Scope 1, 2, and 3 carbon emissions reduction as a higher than medium priority while the same percentage ranked it as a lower than medium priority, indicating the profession is split on the urgency of carbon reduction actions.