Top Five Stories in Procurement
What Procurement Leaders Should do Amid Hormuz Turbulence
Global supply chains have been facing significant exposure to volatility in recent years, the latest being the effective closure of the Strait of Hormuz.
As an important route for global trade, the closure has put immense strain on organisations around the world.
In order to mitigate long-lasting impacts from the turbulence, procurement leaders need to act with clear strategy, McKinsey & Company reports.
The Strait of Hormuz, located between Iran, the United Arab Emirates (UAE) and Oman, is a vital global shipping route as it connects the Gulf to the Gulf of Oman. During usual trade operations, approximately 20% of the world's oil and liquefied natural gas passes through the Strait – in 2025, this was approximately 20 million barrels of oil per day.
Usual trade throughout the strait represents US$1.3tn every year, or US$3.5bn daily.
Why is IFS Disrupting Enterprise Software Pricing Models?
IFS is altering how AI is purchased and deployed, which is changing procurement and supply chain roles around the world.
The implementation of AI has grown exponentially in recent years, but many companies have faced concerns about inconsistency and rising costs.
Now, however, IFS is working to tackle these concerns in order to make AI adoption more streamlined.
IFS is one of the world's leading providers of industrial AI across businesses, ensuring they can unlock value and transform their operations. It helps companies which maintain complex assets, manage service-focused operations and manufacture goofs, as they increase productivity, efficiency and sustainability across their workflow.
How Coupa is Powering Procurement Maturity
Modern procurement is the engine of organisational resilience and margin expansion. However, many teams remain stalled by the 'tactical trap.' Bridging this gap is the key to unlocking a US$500bn efficiency opportunity identified by McKinsey, whose benchmarking survey found a direct correlation between procurement maturity and higher profitability.
While a focus on manual compliance and baseline controls is non-negotiable for risk management, this disproportionate emphasis often acts as an anchor, preventing the function from evolving into a high-impact strategic partner.
By leveraging AI to handle the tactical necessity, procurement leaders aren't just saving time; they are unlocking a proven formula for superior business profitability.
How SpendHQ & Sligo AI Will Power Agentic Procurement
SpendHQ is regarded by many as a leader in enterprise spend intelligence and procurement performance intelligence. It is powering its resource with the acquisition of Sligo AI – which is empowering Agentic Enterprise Procurement (AEP) infrastructure.
The acquisition positions SpendHQ to deliver configurable agentic AI capabilities in enterprise procurement, enabling systems that can execute work across entire procurement workflows, not just generate insights.
How Do Businesses Feel One Year Into the UK Procurement Act?
It has been just over a year since the Procurement Act came into force, and a new Pulse Report from Procurement Hub, part of Places for People (PfP), reveals a sector that is complying but far from confident.
The introduction of the Procurement Act 2023 was on 24 February 2025, marking a major shift in the way public procurement operates.
The UK's public sector allocates approximately £350bn (US$462bn) annually to procurement. However, questions remain about whether this public expenditure translates into quality employment and appropriate standards. The Procurement Act 2023, introduced by the Conservative government to supersede the Public Contracts Regulations, implemented reforms to the exclusions framework.
Over the last 12 months, the Act has looked to streamline processes and ensure smaller businesses get a fair shot at competing.
