The Supply Chain Matters blog features our November 8, 2019 Edition of This Week in Supply Chain Management Tech, a brief synopsis of noteworthy supply chain management focused technology news which we believe would be of specific interest to our global-based blog readership.
Included in this edition are highlights related to noteworthy announcements and/or developments related to:
Workday and Scout RFP
BYD Company and Toyota Motor Corporation
Exostar and Ivis Technologies
Tego, Inc. and Collins Aerospace
Workday Announces Intent to Acquire Scout RFP
Enterprise Cloud HCM and Finance applications provider Workday, Inc. and Cloud based Strategic Sourcing and Supplier Management technology provider Scout RFP announced a definitive agreement under which Workday will acquire Scout RFP in an all-cash transaction.
Scout RFP has been termed a Workday Ventures portfolio company and a Workday Solutions Partner since 2018.
The terms of proposed acquisition include consideration of upwards of $540 million in cash, subject to adjustments. The transaction is expected to close in the fourth fiscal quarter of Workday’s fiscal year 2020, ending January 31, 2020, subject to the satisfaction of customary closing conditions, including regulatory approval.
Founded five years ago, with a vision to make procurement focused Request for Proposals (RFQ’s) as painless as possible, Scout RFP has experienced significant growth. According to the announcement, with the addition of Scout RFP, Workday will provide organizations a comprehensive source-to-pay solution with a strategic sourcing offering to transform the procurement organization and deliver better business outcomes, including reduction in spend, greater policy compliance, and maximized engagement across key stakeholders. A Workday’s internal blog outling this acquisition indicates that the company’s more than 160 employees across North America and Europe will be joining Workday, along with its headquarters in San Francisco.
BYD Company and Toyota Motor Agree to Establish Joint Company
BYD Company Ltd. and Toyota Motor Corporation, announced this week the signing an agreement to establish a joint company to foster research and development for battery electric vehicles (BEVs).
The new company will focus on designing and developing BEV’s (including platform) and its related parts. This joint company is anticipated to be established in China in 2020, with BYD and Toyota to evenly sharing 50 percent of the total capital needed. Additionally, BYD and Toyota plan to staff the new company by transferring engineers and jobs currently involved in related R&D from their respective companies.
With the newly established joint R&D company, Toyota and BYD aim to work together to further develop BEV’s that are attractive to Chinese customers, and by further promoting their widespread adoption.
Founded in 1995, BYD has grown into a total energy solutions company, manufacturing not only electrified vehicles but other products such as large-size energy storage cells. The company name stands for “Build Your Dreams” and core parts for electrified vehicles such as batteries, motors and power electronics are among the products that the Chinese company develops in-house. In 2008, BYD became the first company in the world to sell mass production of plug-in hybrid electrified vehicles (PHEVs).
This collaboration is among others that are compelling global automakers to share the weight of required investments in electric propulsion and battery technologies that will make up the next decade of market demand. Commenting on this announcement, The Wall Street Journal’s Heard on the Street page noted the following: “When even Toyota worries that it doesn’t have the resources necessary to tackle the changes underway in the car industry, investors know life for auto makers is getting tough.”
Exostar and Ivis Technologies Announce Partnership to Support Industry Adoption of CMMC
Regulated industry B2B Cloud technology platform provider Exostar announced that the provider has signed a Memorandum of Understanding (MOU) with Ivis Technologies to deliver secure, Cloud-based assessment, self-help, and risk management applications to the global Commercial and Government Aerospace and Defense industry.
According to the announcement, such applications will enable all organizations, from small-to-medium sized businesses to large enterprises, to better understand and mitigate risk, improve their cybersecurity postures, and comply with current and forthcoming U.S. Department of Defense (DoD) and other Government standards, such as Special Publication 800-171 from the National Institute of Standards and Technology (NIST SP 800-171) and the Cybersecurity Maturity Model Certification (CMMC). Suppliers receive a web-based, step-by-step, wizard-like experience – complete with straightforward explanations and relevant reference materials – to implement the controls and practices mandated by NIST SP 800-171 and CMMC.
Upwards of 135,000 Aerospace and Defense organizations and agencies in over 150 countries utilize the Exostar platform to strengthen security, reduce expenditures, raise productivity, and help achieve their missions. Ivis Technologies provides a SaaS technology that helps companies implement, automate, and execute on their activities that revolve around ethics and compliance programs, and helps reduce the risk for organizations needing to comply with various regulations.
Collins Aerospace Selects Tego as a Global Asset Management Technology
Tego Inc., a provider of a cloud-based Asset Intelligence Platform announced that the company has been licensed and deployed by Collins Aerospace at that company’s worldwide manufacturing sites.
Tego’s AIP technology is reportedly implemented within the Collins Aerospace network with integration to their SAP system to enable RFID tagging of flyable parts in the manufacturing of commercial and military aviation products. In addition to ensuring compliance with the ATA Spec 2000 standard for automated identification and data capture – used widely in the aviation industry – the solution digitizes critical asset information for their next-generation platform. In addition, the AIP technology deployed by Collins Aerospace provide multiple layers of security in the software at both the Rf device and enterprise network levels, ensuring visibility as well as compliance of critical data where and when it is needed.
This concludes our latest edition of This Week in Supply Chain Management Tech.
An Added Note to Readers– Supply Chain Matters will feature our This Week in Supply Chain Tech highlight series periodically as announcements warrant.
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