ASBM Business Updates is a Weekly Selective Compilation of Business News from Various Sources. To find details follow the links.
INTERNATIONAL BUSINESS
With
more companies seeking to settle disputes through arbitration, Japan's public
and private sectors are joining hands to create a new center for commercial
arbitration to boost the number of cases handled in the country.
The
new center for international arbitration could be set up as early as this year
in Tokyo. Lawyer groups, corporations and other private-sector actors will take
the lead in its operation. The Japan Commercial Arbitration Association
could use the facility as its base while mediating international corporate
disputes. Similar associations from other countries may use it as well.
Japan's
Foreign Ministry, Justice Ministry and Ministry of Economy, Trade and Industry
will have joint jurisdiction over the new center. They will provide
institutional support, such as by crafting necessary legislation and providing
staff training.
Unlike
a court battle, an arbitration process allows parties to resolve conflicts
through negotiation. Businesses tend to prefer the method as it moves quickly
and behind closed doors. Major arbitration bodies in the U.S. and U.K. settle
hundreds of cases a year, while Japan handles a mere 20 or so. It is imperative
that Japan foster the necessary talent in addition to building the new center.
MARKETING
At
Google’s Marketing Next conference, the company is announcing a
new beta for Google Attribution, a free tool for examining the role
that different marketing strategies play in customer purchasing decisions.
Regardless
of device or marketing channel, Google wants Attribution to be a home for evaluating
marketing campaigns. By creating a tight loop between strategy, ad spend and
feedback, Google aims to make the tool attractive to marketers that feel
last-click models don’t sufficiently explain customer behavior.
A
panacea for attribution is not a new construct in the world of marketing.
Companies like Adobe and startups like BrightFunnel and Bizible have
been developing tools for years that allow marketers to break the old
last-click paradigm.
Up
until recently, most marketers would credit any sale to the last touchpoint
their company had with a customer. This flawed strategy allows marketers to
quantitatively evaluate marketing campaigns, but its more of a heuristic than a
ground truth.
New
machine learning-powered methods enable marketers to model the relative
contribution of disparate advertising efforts. This is a much more informative
method of evaluation. In the real world, video ads, banner ads, emails and
other materials all work in consonance to drive conversions — it doesn’t make
sense for the final social media ad to get all the credit.
RETAIL
Wal-Mart Stores Inc. gained momentum in its fight
against Amazon.com Inc., with its online sales growing at their fastest clip in
at least five years.
The
e-commerce business saw gross merchandise volume -- a measure of all the goods
it sells online -- soar 69 percent in the first quarter, Wal-Mart said
on Thursday. Total revenue climbed 1.4 percent to $117.5 billion.
The
results signal that Wal-Mart is getting a payoff from
an ambitious online expansion, which included last year’s $3.3 billion
acquisition of Jet.com. The Bentonville, Arkansas-based company now boasts 50
million items on its website, up from 35 million the previous quarter, and its
offer of free two-day shipping for orders of $35 or more has boosted site traffic
and spending, executives said.
“All
of a sudden, Wal-Mart is the primary competitor to Amazon, as opposed to a
fragmented cluster of people,” said Greg Portell, a partner at consulting firm
A.T. Kearney.
The
shares gained as much as 3.2 percent to $77.50, marking the biggest intraday
increase in almost three months. The stock had been up 8.7 percent this year
through Wednesday’s close.
SUPPLY CHAIN
Railways to launch redesigned e-tendering system
The railways will launch shortly its redesigned e-tendering system with more user-friendly new features to facilitate digital participation of over 60,000 vendors.
Ushering in a new era by going paperless, the system envisages that bids are invited online and the entire process leading to award of a tender is done electronically.
Online refund of tender cost and earnest money deposit, online bidder deregistration process, integration with payment gateways of more bank are currently underway in the railways to make the system efficient and transparent, said a senior railway ministry official responsible for the e-system.
The redesigned e-tendering system part of the complete digitisation of supply chain will have vendor interface module to benefit vendors with online vendor registration and inspection call and contract amendment process.
Besides, the system would facilitate auto-alerts, processes relating to acceptance of supplied material and its payments and also include vendor grievance redressal process, the official said.
Railways to launch redesigned e-tendering system
The railways will launch shortly its redesigned e-tendering system with more user-friendly new features to facilitate digital participation of over 60,000 vendors.
Ushering in a new era by going paperless, the system envisages that bids are invited online and the entire process leading to award of a tender is done electronically.
Online refund of tender cost and earnest money deposit, online bidder deregistration process, integration with payment gateways of more bank are currently underway in the railways to make the system efficient and transparent, said a senior railway ministry official responsible for the e-system.
The redesigned e-tendering system part of the complete digitisation of supply chain will have vendor interface module to benefit vendors with online vendor registration and inspection call and contract amendment process.
Besides, the system would facilitate auto-alerts, processes relating to acceptance of supplied material and its payments and also include vendor grievance redressal process, the official said.
________________________________________________________________
Source of Information for this issue: Google alert accessed on May 22, 2017
Knowledge Is Power. Be Informed, Be Knowledgeable, Be Powerful.
Best wishes
Compilation
Sabita Sahu
Asst Librarian
Information and Documentation Division, Chanakya Central Library
Asian School of Business Management
Shiksha Vihar Bhola,
Barang Khurda Road, Chandaka
Bhubaneswar-754012
www.asbm.ac.in
Tel:0674-2374832, 2374833
E-mail:library@asbm.ac.in,
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