News in brief

New IoT data study Margin management Procuring skills

New IoT data study
Xively by LogMeIn, Inc. has released the findings of a study conducted by Forrester Consulting on behalf of LogMeIn (Simplifying the Complexity of IoT) that reveals product companies may be missing a huge opportunity when it comes to their Internet connected products. The research found that while many companies (51%) are collecting data from their connected products, only about one-third are actually using this data to create actionable insights to benefit customers and expand business opportunities. In addition, the survey revealed a number of other challenges facing product manufacturers today, including data security.

Margin management
Based on conversations with C-level executives, and by analysing the results of a survey of 200 CFOs and CMOs, a new in-depth report by Vendavo and Cranfield School of Management reveals that those who report growth ahead of market expectations are more likely to say that maintaining or increasing margin is vitally important (41%) to their organisation, in comparison to those behind (4%). Despite striking evidence that a lack of insight into margin is damaging shareholder value and the financial health of organisations, more than a third (38%) would not know how to affect an increase in margin tomorrow. To help organisations take positive steps, this report offers an Eight Actions model outlining how to regain control of margins at the practical level to beat market expectations.

Procuring skills
Research from Robert Walters has found that half of employers believe they will face skills shortages when looking to recruit procurement and supply chain professionals this year and 20% believe that Britain’s decision to leave the EU will exacerbate the skills shortage. Mid-level professionals are likely to see the highest demand for their skills, with 76% of employers planning to recruit procurement and supply chain professionals at this level. James Franklin, Manager, Procurement & Supply Chain Recruitment, Robert Walters, comments: “Improving inefficient procurement functions has been a key focus for many businesses as they realise that changes made can significantly reduce costs. This has led to a rising demand for specialists in this field.”