New Jersey tax law goes unenforced
The topic of offshore outsourcing has and will come up in political debates. It’s inevitable that as we grower deeper into the worldwide economic funk that people will be looking to politicians for answers as to why their jobs are being shipped to outsourcing professionals around the globe at an alarming rate.
Politicians are usually sympathetic to the workers. After all, that’s where their votes come from.
But for those who say enough isn’t being done, look no further than today’s front page of The Trentonian.
According to the report, New Jersey provides millions to attract large corporations to grow their business, producing new jobs for local workers. Governor Jon Corzine, who signed a law titled “The Development Subsidy Job Goals Accountability Act,” hasn’t provided figures and the law has gone “virtually unenforced”, accusing Corzine of “repeatedly ignoring inquiries about the inactive status of the measure.”
The piece continues to say that the millions the state is providing in tax cuts and grants to large businesses aren’t cost-effective, and suggests that jobs are still being shipped out of the state so the companies can earn an even larger profit margin.
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You can read the full report for the finer details. The biggest thing to take from this breaking news story is that federal and state tax breaks and grants are a great way to jumpstart a business, but that money is meant to grow your business and help out the community.
Those taking advantage of the system and going offshore for cheaper labor shouldn’t be allowed such breaks from local governments. While it’s unlikely anything drastic will happen, the report should be taken as a warning to businesses who take advantage of the system to deepen their pockets.
Pandora and IBM digitise jewellery supply chain
Pandora has overhauled its global supply chain in partnership with IBM amid an ecommerce sales boom for its hand-finished jewellery.
The company found international success offering customisable charm bracelets and other personalised jewellery though its chain of bricks and mortar retail destinations. But in 2020, as the COVID-19 outbreak forced physical stores to close, Pandora strengthened its omnichannel operations and doubled online sales.
A focus on customer experience included deploying IBM’s Sterling Order Management, increasing supply chain resiliency and safeguarding against disruption across the global value chain.
Pandora leverages IBM Sterling Order Management as the backbone it its omnichannel fulfilment, with Salesforce Commerce Cloud powering its ecommerce. Greater automation across its channels has boosted the jeweller’s sustainability credentials, IBM said, streamlining processes for more efficient delivery. It has also given in-store staff and virtual customer service representatives superior end-to-end visibility to better meet consumer needs.
Jim Cruickshank, VP of Digital Development & Retail Technology, Pandora, said the digital transformation journey has brought “digital and store technology closer together and closer to the customer”, highlighting how important the customer journey remains, even during unprecedented disruption.
"Our mission is about creating a personal experience and we've instituted massive platform changes with IBM Sterling and Salesforce to enable new digital-first capabilities that are much more individualised, localised and connected across channels and markets,” he added.
Pandora’s pivot to digital
The pandemic forced the doors closed at most of Pandora’s 2,700 retail locations. To remain competitive, it pivoted to online retail. Virtual queuing for stores and virtual product trials via augmented reality (AR) technology went someway to emulating the in-store experience and retail theatre that is the brand’s hallmark. Meanwhile digital investments in supply chain efficiency was central to delivering on consumer demand.
“Consumer behaviour has significantly shifted and will continue to evolve with businesses needing to quickly adapt to new preferences and needs,” said Kareem Yusuf, General Manager, AI Applications and Blockchain, IBM. “To address this shift, leading retailers like Pandora rely on innovation to increase their business agility by enabling and scaling sustainable supply chain operations using AI and cloud.”
Yusuf said Pandora’s success was indicative of how to remain competitive by “finding new ways to create differentiated customer experiences that protect their enterprises from disruptions to help mitigate risk and accelerate growth”.