Who is new Maersk Group CEO Soren Skou?
Soren Skou has been em...
Global supply chain giant Maersk has appointed a new CEO, Soren Skou, replacing Nils Anderson who had been in charge since 2007.
Soren Skou has been employed with A.P. Moller - Mærsk since 1983 and has been member of the Executive Board of since 2006. In 2012 he was appointed CEO of Maersk Line, and will remain in this position in addition to his position as CEO for the Maersk Group.
“Soren has strong business acumen and thorough knowledge of the Group’s various businesses and has successfully restructured the businesses he has led. The Board of Directors knows Soren as a respected and knowledgeable leader with the ability to adapt quickly to market changes in close collaboration with the Board of Directors, the executive management and his employees,” said Michael Pram Rasmussen, Chairman of the Board of Directors.
The Board of Directors has tasked the new management to investigate the strategic and structural options to further increase agility and synergies. The Board of Directors will communicate on the progress before end of 3rd quarter 2016.
“I am excited about the opportunity to lead A.P. Moller – Mærsk into the next phase of our strategic development. The fast-paced changes of this world demand that we can adapt quickly, easily and at a minimal cost while retaining the focus on each Business Unit. Our future set-up must effectively respond to these challenges,” commented Skou.
Soren Skou was also CEO of Maersk Tankers from 2001 to 2011. Besides a long experience as a board member and Chairman of the Board of Maersk Group companies, Soren Skou has also previously served on the Board of two listed companies.
He is a graduate of business administration from Copenhagen Business School, and further accomplished an MBA with honours from IMD, Switzerland. He is 51 years old, married to Lene Skou and has three children.
5 Minutes With: Jim Bureau, CEO Jaggaer
What is data analytics, and why is it important for organisations to utilise?
Data analytics is the process of collecting, cleansing, transforming and analysing an organisation’s information to identify trends and extract meaningful insights to solve problems.
The main benefit for procurement teams that adopt analytics is that they’re equipped to make faster, more proactive and effective decisions. Spend analysis and other advanced statistical analyses eliminate the guesswork and reactivity common with spreadsheets and other manual approaches and drive greater efficiency and value.
As procurement continues to play a central role in organisational success, adopting analytics is critical for improving operations, meeting and achieving key performance indicators, reducing staff burnout, gaining valuable market intelligence and protecting the bottom line.
How can organisations use procurement analytics to benefit their operations?
Teams can leverage data analytics to tangibly improve performance across all procurement activities - identifying new savings opportunities, getting a consolidated view of spend, understanding the right time for contract re-negotiations, and which suppliers to tap when prioritising and segmenting suppliers, assessing and addressing supply chain risk and more.
Procurement can ultimately create a more comprehensive sourcing process that invites more suppliers to the table and gets even more granular about cost drivers and other criteria.
"The main benefit for procurement teams that adopt analytics is that they’re equipped to make faster, more proactive and effective decisions"
Procurement analytics can provide critical insight for spend management, category management, supplier contracts and negotiations, strategic sourcing, spend forecasting and more. Unilever, for example, used actionable insight from spend analysis to optimise spending, sourcing, and contract negotiations for an especially unpredictable industry such as transport and logistics.
Whether a team needs to figure out ways to retain cash, further diversify its supply base, or deliver value on sustainability, innovation or diversity initiatives, analytics can help procurement deliver on organisational needs.
How is data analytics used in supply chain and procurement?
Data analytics encompasses descriptive, diagnostic, predictive and prescriptive data.
Descriptive shows what’s happened in the past, while diagnostic analytics surface answers to ‘why’ those previous events happened.
This clear view into procurement operations and trends lays the groundwork for predictive analytics, which forecasts future events, and prescriptive analytics, which recommends the best actions for teams to take based on those predictions.
Teams can leverage all four types of analytics to gain visibility across the supply chain and identify optimisation and value generating opportunities.
Take on-time delivery (OTD) as an example. Predictive analytics are identifying the probability of whether an order will be delivered on time even before its placed, based on previous events. Combined with recommendation engines that suggest improvement actions, the analytics enable teams to proactively mitigate risk of late deliveries, such as through spreading an order over a second or third source of supply.
Advanced analytics is a research and development focus for JAGGAER, and we expect procurement’s ability to leverage AI to become even stronger and more impactful.