13 minute read
SMART MOVES
ECONOMIC WHY, SOCIAL WHY
ESG SUCCESS BEGINS WITH PURCHASETO-PAY 20 YEARS AGO
When it comes to ESG (environmental, social, and governance) success, drawing a straight line between the “economic why” and the “social why” depends on more than the understanding and awareness of that connection and its benefits. Various ESG initiatives may hit the right buttons across a spectrum of financial and noble social benefits. Still, if it falls short on execution, you still get mediocre results. A 2021 global survey shows this, highlighting that while 81 percent of companies have a “formal ESG program,” only 50 percent believe their company “performs effectively against environmental metrics.”
A PRACTICAL WORKSTREAM
In 2008, one of my Procurement Insights blog readers sent me a long but thought-provoking question regarding Bill Gates’s 1999 book, Business @ The Speed of Thought. I will share their original text as it will paint a fuller picture of the thought process regarding workstream automation back then.
The member asked: “Almost 10 years ago, Bill Gates of Microsoft wrote a book titled Business @ The Speed of Thought, where he laid out his vision for how organizations should utilize technology to become more responsive, adaptive, agile, etc. Specifically, he drew an analogy between an organization’s IT infrastructure and living beings’ autonomic nervous systems. Now, reading this book over again, I’m struck by a perception that even now, most organizations still do not have the level of IT integration of which Gates speaks. So, my question(s) to you is this: Does your enterprise/organization have realtime reporting and notification of all important data? Are you able to react and adapt in a very agile way, thanks to your IT systems? Or are you actually constrained in your ability to adapt by those very systems? Would you say your organization really has a ‘digital nervous system?’ I’m curious to see if my perception – that there will be a lot of ‘no’ answers here is really valid. Additionally, where answers are ‘no,’ I’d be interested to hear about the reasons why.”
Looking back on my answer, there are two things I will point out. First, with my answer’s references to Web 2.0 and Web 4.0, I was talking about going from static ERP-based procurement platforms to the dynamic, P2P AI or digital-era solutions now available.
The second is that I saw the amazing possibilities of today’s technology first-hand in 1998 and 1999 when, with funding from the Government of Canada’s Scientific Research & Experimental Development program, I developed one of the industry’s first algorithmbased web procurement solutions. Even though I sold the company in 2000, I knew that experience would come in handy one day.
THE DIGITAL NERVOUS SYSTEM
My Response to the question was: “I recently answered a question regarding the future of enterprise software modelling, which relates to the core elements of your question. Here is an excerpt from that answer: You are really talking about the differences between agent-based and equation-based modelling. The latter has been the traditional model used by software developers because it attempts to quantify and therefore confine multiple strands. e.g., the attributes of diverse stakeholders into a single, definable ‘static’ stream or process. Outside of finance, equation-based modelling does not translate to other, more dynamic areas of an enterprise, such as an organization’s procurement or supply chain practice.
Agent-based modelling, which has been around for approximately 15 years, first seeks to understand the unique operating attributes of diverse stakeholders. Once understood, it then attempts to link these seemingly disparate attributes through the utilization of advanced algorithms to produce a reliable, real-world ‘collaborative’ outcome that results in a tangible benefit on a real-time basis.
To a degree, Web 2.0 represents the natural evolution of the agentbased model (development efforts are well underway in defining a viable Web 4.0 model).
However, because many vendors such as Oracle, SAP and Ariba have made a substantial investment in their equation-based models, their efforts are more focused on bridging the synchronization chasm through the introduction of the somewhat passive service-oriented architectures (SOA).
Jon Hansen is editor and lead writer for the Procurement Insights Blog and was host of the PI Window on The World Show on Blog Talk Radio.
Even Oracle’s Larry Ellison admits that the best they can hope to achieve is a ‘near real-time’ capability through this strategy. And near real-time is not indicative of the true synchronized architectural requirements of a dynamic, agile enterprise.
For this reason, the many organizations that have made an equally substantial investment in their current ERP platforms are ‘stuck’ in terms of working within what is quickly becoming an antiquated framework. And it is for these reasons that, for more organizations, the answer to your question would have to be no.”
NEAR REAL TIME IS STILL NOT ENOUGH
Here is why today’s P2P (Web 4.0) technology is critical to achieving your ESG objectives. To start, “the complexity of ratings and multiple frameworks (GRI, SASB, ISI 2600)” makes monitoring performance across a global supply base difficult.
Today’s P2P solutions’ ability to synthesize these ratings and multiple frameworks to assess and measure supplier adherence is critical to ESG success while enabling the procurement team to focus on improving the supply base instead of managing a scoring model.
Of course, the above all depends on organizations having reliable access to clean data – but that’s another topic. SP
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BY MARIETE F. PACHECO
ENHANCED PERFORMANCE
BEARINGS AND LUBRICANTS ADAPT WITH NEW MATERIALS AND TECHNOLOGY
A common component in the manufacturing and industrial applications is bearings. These steel powerhouses play important roles in operating of machinery, like reducing friction, maintaining alignment or supporting loads. They come in several sizes, from massive spheres used in wind turbines to smaller versions for conveyor systems on production lines or distribution centres.
Bearings have evolved the last 20 years in composition, technological functionality and sustainability. Another growing product option is the hybrid bearing. It combines a steel ring with rolling ceramic components. This format can be interchanged with traditional all-steel bearings for improved reliability and excellent electrical insulation properties. Hybrid bearings have a higher speed capability and are more resistant to abrasive particles. This means a longer life than all-steel bearings.
Plastic bearings made from polymer-based materials like Nylon and Teflon have grown in popularity due to their benefits in less demanding applications where stresses like temperatures are less frequent. Plastic bearings are stronger, more corrosion resistant, need lubrication less often and last longer.
Nylon is common in applications needing quieter operations and higher-than-average abrasion resistance. Nylon bearings offer better wear resistance, making them good alternatives to all-steel bearings. Teflon or PTFE bearings offer the advantages of a low-friction material plus higher-than-average self-lubrication. Teflon bearings are often used in applications with high exposure levels to water or chemicals. But they can be more expensive then metal-based bearings.
An increasingly common bearing material is phenolics, which provides strength and shock resistance to acid and water, making them ideal for demanding applications in water turbines, ship engines or electrical switchgear. Lastly, Delrin, used in automotive and industrial applications where water resistance at low cost makes it an alternative to steel.
The growing interest in incorporating technology into static devices like bearings is shifting towards mass industrial adoption. While new, including IOT (internet of things) in bearings lets users monitor bearing performance and conditions, for example vibration analysis, loads,
Mariete F. Pacheco, MBA, PMP is managing director at FRW Services Ltd.
speeds and temperatures. This technology can help with maintenance, as many systems provide real-time data to track performance and keep maintenance on schedule.
Select industries are adopting IOT in bearings, including agriculture and wind energy. This will continue, especially as the automotive industry embraces it. With the growth of electric vehicles, the time is near for multi-purpose bearings such as IOT enabled bearings, as EVs have fewer moving parts than combustion-engine powered cars, requiring fewer bearings. However, the limited number of bearings now in the car demands more functionality for greater energy efficiency and reduced fuel consumption. Remote monitoring, while beneficial for some applications, isn’t a one-sizefits-all approach across industries and the technology is still limited.
ADVANCES IN LUBRICANTS
The related bearing lubricant category has also evolved and there’s an increased focus on sustainability. Examples of this include biodegradable grease, water lubricated bearings and the correct processing of lubricant waste. Biodegradable grease and water lubricated bearings provide “greener” choices, as these options are less harmful to the environment and employees. As with any
