Category Archives: Miscellaneous

the doctor Gives You The Top Ten Marketing Ideas … err … The Top Ten Supply Chain Improvement Ideas That You Might Overlook

Chief Marketer recently ran an article titled “Top Ten: Marketing Ideas To Consider in 2008” designed to help marketers, but, scanning it, I couldn’t help but notice that every idea was also applicable to your supply chain – in the right context of course. So, even though most of these wouldn’t be on my top ten supply management improvement ideas for 2008, I’m going to cover them anyway because they’re still good ideas – and some of them are actually quick hits that you’ll get immediate pay back from.

  • Time to Green
    Thanks, in part to Al Gore who has now invented the science of “global warming” as well as the internet, Green is on everyone’s lips these days. If your products aren’t green, you better find a clueless third world economy to sell into because you might find that, as more green alternatives hit the market, especially affordable ones, your products stop selling. Although we’re not quite to the point where it’s “Go Green or Go Home”, we’re getting close.
  • The Great Outdoors
    Get up, get out, pile in a high miles-per-gallon vehicle with the latest emission reducing technology (or at least a good catalytic converter in working order), and drive until you see nothing but trees, plains, or semi-desert. Then sit and observe nature for a day. Notice the balance and the cycle. Then go back to the office and kick your sustainability programs up a notch.
  • Get Game
    Gaming permeates society – and it does for a reason. It connects and entertains people at the same time. But, more importantly, as a few thought leading companies are starting to find out, it’s also a great training and communication tool. Instead of using the same “process” handbooks and “training” manuals, develop some customized games that help your new hires get to where you need them to be in a matter of weeks, instead of months or years. (Even oil companies are realizing that they can cut the training time required to prepare new hires to correctly and safely lay pipes in the oil-fields by two thirds with simulation gaming. Moreover, they are also finding that these new hires are more productive on their first day than those that used to get three months of dry class-room training.)
  • Mobile – I Can Hear You Now
    Take a clue from UPS and Fedex and give all of your logistics workers hand-held RFID scanners to help them more efficiently identify, track, and deliver your shipments on time.
  • Join the Club
    Use enterprise technology that takes the best (but not the worst – remember why the doctor remains faceless and spaceless) collaborative technology developments from today’s social networks to help you interact with your supply chain partners more productively.
  • Rise of the Widgets
    Select supply chain software that presents extensible APIs and configurable interfaces that you can use to customize the software to your needs.
  • Roll Video
    Your employees aren’t the only ones who don’t want dusty manuals. Communicate with your supplies using the full capabilities of today’s multi-media and video conferencing software. Send them training videos instead of training manuals when you need them to use your systems (or system interfaces) and hold visual conference calls now and again to help with team building.
  • From Behavioral to Contextual
    Stop focussing only on one-size-fits-all technology and process improvements and start looking for this-size-fits-me technology and process improvements occasionally. Some things just work better in context.
  • Focus on the Experience
    Just like consumers want to “feel good” when they buy from a retailer, your internal customers want to “feel good” when they work with you. Make working with the supply chain organization something everyone in the company wants to do.
  • … As-A Service
    The supply chain is becoming more and more service oriented – Software As-A Service, Logistics As-A Service, Warehousing As-A Service, etc. Those that master the new service-oriented approach first stand to gain the most.

Integration Point: Another Way to Get Your Trade Data in Order

I know I risk sounding like a broken record when I continually repeat myself on a topic, but some topics just can’t be ignored – and at least this time I’m introducing you to another company with a solution that I believe could help you with your trade data management efforts.

I recently had the opportunity to review Integration Point’s (acquired by Thomson Reuters) solution, and I believe that they are definitely one of the few providers with a chance to approach a solution that could theoretically be extended to tackle your global trade data management problems 100% in the future through a single, integrated, web-based platform. Right now, they’re probably a good two-thirds of the way there, and that’s currently further than any other solution I’ve had the opportunity to review so far.

Before we dive into their capabilities, let’s step back and define the problem again. If you review the Introduction to Global Trade wiki-paper over on the e-Sourcing Wiki [WayBackMachine], you quickly realize that Global Trade is quite involved, with the basic import and export cycles taking (at least) 14 steps each in the average case. Furthermore, in order to execute global trade, you need to effectively tackle ( 1 ) customs, security, and classification, ( 2 ) free trade / secure trade zones and agreements, and ( 3 ) regulatory compliance. Effectively tackling each of these challenges requires the ability to track and instantly access large amounts of data to create the forms and documents that different regulatory bodies require for the purposes of import / export, security verification, and regulatory compliance. Add extra emphasis to the “instantly” – the information needs to be accessible in real time – and this includes the ability to query up-to-date classification codes, tax laws, regulatory requirements, and denied party lists in real time.

As far as I can tell, with respect to the key supply chain destinations that compose most global supply chains (mainly, North America, the European Union, China, and India), Integration Point, with their extensible modularized web-based platform, has effectively solved the core customs, security, and classification challenge as well as the free trade / secure trade zone challenge. With solutions that address import and export classification (HTS codes), import documentation requirements, export documentation requirements, C-TPAT, AEO, denied party screening, FTA qualification, duty deferral, customs warehousing, customs control processing, and advance security filing – they have most of what your average multinational based in the US or the EU needs. Furthermore, they’ve built their platform to be extensible so that if you have additional classification or security needs, they can extend the solution to meet your needs. Maybe that’s why they already have over 80 multinationals as clients, including 11 of the Fortune 100.

The solution also integrates with a wide range of ERP and competitor trade platform software – including SAP, Oracle, JD Edwards, MAPIS, BPCS, MFG/PRO, American Software, EXE, Manhattan Associates, PKMS, and Infor – and they can usually integrate with additional software in reasonable timeframes since everything was built in house on a single, .NET-based, platform.

This only leaves regulatory compliance – which is a difficult challenge for any vendor because most of the major acts, like REACH, RoHS, WEE, etc. in the EU, require significant amounts of low-level manufacturing and product design details that are only found in, often archaic, PLM systems. However, their platform can track any product-specific data you like, can store any regulatory-specific requirements you like, and they can build custom searches and custom-matches as required by their customers – often in just a few hours – so if you know what the concerns are, you can track them and make sure they are checked before each award is made or each shipment approved, so if your needs are elementary, with some effort, you can extend it to serve as a basic regulatory requirements tracking system. However, it won’t be a full solution until they build in basic PLM data integration, tracking, and matching capabilities as well as the requirements of the major regulatory acts in North American, the EU, China, and India.

Integration Point also has the right viewpoint when it comes to global trade management – it should be proactive and not reactive. You don’t want to know about exceptions after a shipment has been approved, you want to prevent shipments with known problems from occurring in the first place. You want to make sure that the customer is not on the denied party list, that the distributor or 3PL has the proper transport licenses, and that you have the right export licenses before you even approve the order. You want checks to occur automatically as soon as each relevant piece of information is entered, every time something changes, and again just before the shipment is loaded – since denied party lists can change daily.

It’s definitely worth checking out – as they have more integration than Global Data Mining. However, that’s not to say that Global Data Mining isn’t a valuable solution too – as they are particularly good at mining your transaction data to find inaccuracies in classification or tariff & tax overpayments that a transaction-based compliance system like Integration Point isn’t customized for. The reality is that global trade is so complex that one solution probably isn’t going to cut it for a long time, if ever, but I do believe that starting with a web-based platform, like Integration Point’s, is a good start. For your reference, other players in the space are TradeBeam, QuestaWeb, Kewill Systems, and Management Dynamics.

Happy New Year from the Sourcing Maniacs

Yesterday, in Ariba Headquarters in Sunnyvale, California. Thaddeus Plotz and Chicken Boo are in the boardroom, looking rather serious. It’s empty but for a vase of flowers on the table. The intercom is turned on.

Mary Hartless The intercom crackles.
The ‘Ribas are here to see you sir.
Thaddeus Plotz Send them in.
Mary Hartless Right away sir.

The boardroom door opens. Ralph T. Guard escorts the ‘Ribas in, closes the door, and takes a seat.

Yakko Nice to see ya, Thads!
Wakko And look, Chicken Boo’s here too!
Dot Aw, shucks. You got me flowers. You didn’t have to.
Wakko Is there any balony? I’m hungry.
Thaddeus Take a seat, please.
Yakko. Okay!
Yakko takes a chair, proceeds to dismantle it, and starts sticking the pieces in his pocket.
Thaddeus Just SIT Down, please!
Ralph grabs a chair leg as he starts to scowl, even more so than usual.
Yakko, Wakko, & Dot Okay, boss!
The Riba’s sit down.
Thaddeus That’s what I need to talk to you about.
Dot You’re not giving us a new boss again, are you?
Yakko Not that we don’t appreciate your kindness …
Wakko But the last one only lasted a week!
Thaddeus No …
Dot Then we’re finally getting …
Yakko & Wakko A Promotion!
Thaddeus No … not quite … but you can think of it as an advancement if you like.
Dot Really?
Thaddeus Yes. An advancement in your career.
Yakko And how are we advancing if we’re not getting promoted.
Thaddeus Chicken Boo, as the newest chief on our executive team, the honor of telling them befalls you.
Chicken Boo B’-kawk?
Thaddeus Yes, Chicken Boo – it’s your job. They are part of what is now your department.
Chicken Boo Bok.
Bokko, Bawko, Bok … B’k bawk-ko bwwk bwkk-kah bok bokko bok.
Yakko, Wakko, & Dot What?!?!?
Chicken Boo B’k bawk-ko bwwk bwkk-kah bok bokko bok.
Yakko, Wakko, & Dot You’re letting us go? Thaddeus!
Thaddeus Yes?
Dot You’re …
Yakko … letting us …
Wakko go?
Thaddeus Well, someone has to go. We have two people for every job now. Chicken Boo feels that the team he has in mind will serve the needs of the new company quite well. We’ve discussed it at length and I agree that this is the right decision. You’ve been here a long time. I think it’s best for everyone if you moved on.
Ralph Does this … does this mean that … ?
Thaddeus Yes, Ralph. The ‘Ribas are no longer your responsibility.
Ralph But does that mean … that I’m … I’m … ?
Thaddeus No, Ralph. We’re not letting you go. In fact, we’d like you to head up the new security organization responsible for standardizing security across all of our sites.
Ralph An expression of pure joy, the likes of which you’ve never seen, appears on Ralph’s face, along with a grin that you once thought could only appear on the cheshire cat, as he leaps six feet into the air and proceeds to do a triple pirouette.
Thank you sir! Thank you very much! Can I start right away?
Thaddeus Yes you may, Ralph.
Ralph Thank you again sir.
Ralph dances towards the door, singing.
Free at last. Free at last. Never thought I’d see the day. Where I’m free at last!
  The ‘Ribas are looking very solemn.
Yakko But where will we go?
Dot And what will we do?
Wakko And we really like it here … really, really like it here; the balony sandwiches are by far the best I’ve ever had!
Yakko, Wakko, & Dot And we don’t know anything else!
Thaddeus That’s why you need to move on. For your own sakes. Right, Chicken Boo?
Chicken Boo Bwk-ka!
Thaddeus Don’t fret. We’re sure you’ll do fine. And to give you lots of time to find the perfect fit, we’re doubling the standard severance package in your case. Happy New Year!
Thaddeus gets up and starts walking toward the door.
Chicken Boo Bok-ke bok bawk!
Chicken Boo gets up and follows Thaddeus.

The ‘Ribas are alone. They are, for once, silent. Time passes. They just stare at each other. First a minute. Then another minute. Then another minute. Before you know it, almost thirty minutes have passed.

Dot So …
Wakko … so …
Yakko … so … We Move On!
Dot But Where?
Wakko And how do we get there.
Yakko Doesn’t matter. We’ll go.
Wakko But will they have baloney?
Yakko Doesn’t matter. We have money now. We can buy our own.
Wakko Great! I’m still hungry.
Dot You’re always hungry.
Wakko I’m sorry.
Yakko Don’t be sorry! They should be sorry! They’re losing the best team they ever had!
Dot Then why did they let us go?
Yakko Because now that they have Chicken Boo and his team, they’re cocky.
Wakko Cocky’s here? Here boy! Here boy!
Cocky is Wakko’s favorite stray cocker spaniel.
Yakko No Wakko, they’re cocky. Completely whack-o.
Wakko But I’m Wakko.
Yakko Yes … but they’re … never mind. Anyway …
Dot What we do now …
Yakko Yes, what we do now. And what we do now is march out that door and take on the sourcing world!
Dot But what if no one’s hiring?
Yakko Then we’ll consult.
Wakko And if they don’t want us?
Yakko Then we’ll become analysts!
Dot And if the analyst firms are not hiring either?
Yakko Then we’ll blog. We’ll make it, whatever it takes. So let’s go!

Yakko, Wakko and Dot march out of the boardroom, down many flights of stairs, and out through the main lobby, heads held high. They stop on the front lawn.

Wakko This feels weird.
Yakko But we’ve run across this lawn thousands of times over the last eleven years or so.
Wakko Yes … but Ralph’s usually chasing us by now!
Dot I’m going to miss Ralph!
Wakko Me too!
Yakko So am I. But I think I’ll like this new freedom.
Dot So which direction?
Yakko North sounds good.
Wakko And who do we start with?
Yakko I say we start with Aravo and work our way through the sourcing alphabet … all the way to Zycus if necessary!
Dot That could take a while!
Yakko Yes, it could.
Wakko So let’s do it with a song in our hearts!

The ‘Riba’s start marching northward. Their song fills the air.

Yakko We’re off to see Aravo
The wizards of 2Sustain
Wakko We have lots of gustavo
Far as we can ascertain
 
Dot And if they fail to hire us
Then we’ll find a Bearing Point
Yakko Where we can unleash our suss
As we tear on through the joint
 
Dot And if we find them lacking
Then maybe we’ll go Compiere
Yakko It’s the time to get cracking
Wakko And get that expensive ERP outta-there
 
Dot And if we happen to get passed over
We can always leave the valley
Yakko Head out east toward the landlocked border
And take a shot at Denali
 
Wakko And if we have some time that’s free
Take a trip to good old Burlington
Yakko, Wakko, & Dot It would be nice if we could see
Our friends Pinky and the Brain again
 
Yakko Then head down south to Tampa Bay
Wakko Where the dolphins are known to play
Dot Investigate the marketplace
At Enporion’s Florida base
 
Wakko Then take a trip to the midwest
Yakko To the great lakes on the border
Dot And have a chat with Fi-eldGlass
Help them get their temps in order
 
Wakko Then down south to Colorado
Dot Where the rockies line the sky
Yakko See if Global Data Mining
Wakko Would like to trade a piece of pie
 
Dot If not, we could try Hyperion
Wakko Dysfunctional dashboard king
Yakko But didn’t they sell to Oracle?
Dot You’re right – they did for more bling
 
Dot We could try i2, they’re still around
Wakko Head down to Dallas, and try our luck
Yakko The “Supply Chain Results Company
They’re trying to get out of the ruck
 
Yakko Or JP Morgan Chase Vastera
Who acquired a company called Xign
Wakko To take payments for Aloe Vera
Or bottles of Great Northern Ice Wine
 
Dot And if that fails, there’s Ketera
Yakko We could plant them on firm terra
Dot Use our knowledge to help them grow
Yakko And beat Ariba, toe-to-toe
 
Yakko Then we could take a little break
Wakko And go swimming in a lake
Dot For when it comes to “L” you see
There’s just not much Logility
 
Yakko Then we can go for Martini’s
Wakko Which go quite well with linguini’s
Yakko Or get ourselves some MPower
Wakko With M&M’s on the hour
 
Dot Then on to contacts with Nextance
Yakko Or should we now say Versata
Wakko To navigate this expanse
Yakko, Wakko, & Dot We’ll need a longer sonata
 
Wakko And when we’re done with our cheese gratings
Dot We can be off to Open Ratings
Yakko Now the heart of D&B culture
They’re the classic market risk vulture
 
Dot And then on to Perfect Commerce
Yakko Just acquired by Europe’s Cormine
Dot Who made them all Euro converts
when they gave them more borrowed time
 
Yakko And let’s not forget about Quadrem
Dot Whatever it is that they do
Wakko They are headquartered in the Netherlands
Not far from Europe’s human zoo
 
Dot Or set sights on Rearden Commerce
Wakko Travel agent to the execs
Yakko Book your whole trip in just one verse
Using regression of y on x
 
Wakko Then if we don’t want to be SAPs
Dot We can go for a little SAS
Yakko Or if we’re in the contract trap
Selectica off of the pass
 
Dot And if we knew our TrueDemand
Yakko Then we wouldn’t have to be roaming
Wakko Stocking shelves would be quite grand
As long as we weren’t in Wyoming
 
Yakko We could head north and look for Upside
Dot But I’m afraid of polar bears
Wakko And drowning in the world’s highest tides
Dot Besides it’s much too cold up there
 
Wakko There’s always standby Vertical Net
Yakko Which was just acquired by Bravo Solution
Dot Flush with cash, they just might make it yet
Yakko If they can cut through the media pollution
 
Yakko Maybe we should tackle finance
And give WorkDay a fighting chance
Dot Everyone needs an ERP
It’s on-demand, no IT dance
 
Yakko And if we want to manage vendors
In all of their glorious splendors
Dot Down to Xcitec we could shuffle
Wakko And see what feathers we could ruffle
 
Dot Then we’ll take another rest
Almost through the alphabet
Wakko A through Z is lots of work
But our duties we will not shirk
 
Yakko If all else fails then we will tread
To where we’ll find a dollar spread
Dot To Zycus with their bubble charts
Wakko They’ll decorate our racing carts!
 
Yakko From A to Z, we’ll try them all
Wakko Whether they are big or small
Dot And if we reach the very end
Yakko, Wakko, & Dot Then we will start over again
 
Yakko, Wakko, & Dot Happy New Year!

The Wit and Wisdom of the SpendFool Revisited

One year ago today, I brought you The Wit and Wisdom of the SpendFool, culled from all of the foolish comments I could find over on SpendMatters*. The SpendFool was also kind enough to leave some very juicy tidbits again this year, but in case you missed them, here are the highlights.

The Wit

From Risk & Supplier Performance — When Conventional Wisdom Isn’t:

In MY next guest article, I will play an Aberdeen analyst and argue that the conventional wisdom of “cross-functional teams are a waste of time” is indeed false by proving that “Leading CPOs are 2X more likely to emphasize procurement team management”.

From Buick: Crap or Crème De La Crème?:

No amount of Tiger Woods commercials will be able to save the design-by-committee Rendevous. That is one “Coyote Ugly” vehicle. They ought to make it even uglier and turn it into the new version of the old VW “The Thing”.

From Emptoris Targets Ariba/Procuri Customers … Only 2 Hours After the Deal News Breaks!:

“Hello, pot? Yeah, this is kettle, you’re black!”

From Emptoris Grows, Trash Talks Competitors:

Captain, it’s not logical to attack the Borg and the cling-ons. It’s not worth your tribbles. Focus on the enterprise.

– and –

From A Gift for Your Favorite Supplier This Holiday Season:

In the beginning was the Plan.
And then came the Savings Targets.
And the Targets were without form.
And the Forecasts and the Budget were without substance.
And darkness was upon the face of Procurement.
And the purchasing agents spoke among themselves, saying, “This is crock of sh*&, and it stinks.”
And the purchasing agents went unto their Senior Buyers and said, “It is a pail of dung, and we can’t live with the smell.”
And the Senior Buyers went unto their Commodity Managers, saying, “It is a container of excrement, and it is very strong, such that none may abide by it.”
And the Commodity Managers went unto their Regional Directors, saying, “It is a vessel of fertilizer, and none may abide its strength.”
And at the annual global Procurement conference, the Regional Directors said to the CPO, “It contains that which aids plant growth, and it is very strong.”
And the CPO went to the CFO, saying unto her, “It promotes growth, and it is very powerful..”
And the CFO went to the President, saying unto him, “This new Procurement plan will actively promote the growth and vigor of the company and in these areas in particular.”
And the President looked upon the Plan and saw that it was good.
And the Plan became Policy.
And that, my friends, is how sh%& happens.

The Wisdom

From Why 80% is not Enough … :

“Do a mega-lot with both basic and advanced requirements, and you’ll indeed get the 80% solution which does leave money on the table (payback is indeed usually after 1-5 events). So, break up the market basket between analytics, RFX, contracts, scorecards, portals, yada yada and then build humpty dumpty up. Worst case, you get a good discount on the 80% solution (which ain’t cheap and certainly doesn’t come often). Best case, you get the right tool for the job, take the money on the table, and then re-bid in 3 years when SAP/Oracle have their next-gen polyrazzmatazz suites. The money you’ll save on hundreds of events during that time will make everything else noise (except for maybe the ERP upgrade costs). Why do you think BoB (aka “Bondo”) vendors are filling those holes so well these days. Buyers are generally not stupid and markets are generally efficient. Generally. With 0.7 probability for those reading in Stamford.

From Risk & Supplier Performance — When Conventional Wisdom Isn’t:

When supplier performance increases, you get the right stuff at the right place at the right time at the right quality, etc. Seems like risk goes down when all is right, no?
As the good Dr. said … “The better performing suppliers also had the lowest risk level as measured by our model”. Makes sense, what you measure is what you get, and since firms measure pretty much along these categories, that’s what they indeed do get. So, the conventional wisdom is indeed wise and now empirically proven. Q.E.D.

From Emptoris: Going Under the Numbers:

On the topic of contract management:
They’ve been subsumed as a component of a BoB spend management suite. That’s fine, but let’s not delude ourselves into thinking that these vendors are really going to be viable, long-term players in enterprise contract management. Yes, it’s a dessert topping AND a floor wax! Puh-lease. They don’t have even the horsepower to invest in decent integration to the back office for the Procurement stuff. Ask for references and enjoy the ensuing tap dance.

From What Does ISM’s New Board Composition Mean?:

Supply Management is about harvesting the power of supply markets, not catering to stale incumbants who are chummy with the top brass. …
When I look for innovation in supply management these days, it’s more likely to come from technology vendors and niche consultants than the flip charts from the last elk lodge session in Boca Raton.

From Wrong or Right? Equating Supply Chain Performance with Spend Management:

Why does a good discussion on the impact of Procurement devolve into vendor CMOs strutting their little peacock feathers on niche (albeit important) sourcing techniques. Did you know that Flavia coffee systems were used at 70% of these firms versus 40% adoption at low-performers? Clearly, using Flavia (winner of the Tweedleman award for worker caffeination) is a key predictor of supply chain excellence. I think there’s a pending Aberdeen report on it – Jamie will make it say whatever you want it to. Also, did you know cocaine users are 10x more prone to using caffeine than non-cocaine users (even more in Rome). So is caffeine a SCM best practice or a gateway drug to hell?

A better discussion is talking about how supply management (the process – not the renamed Purchasing department) supports the operational excellence capabilities that allows AMR’s named firms to excel: lower inventory via supplier consignment/VMI and lower cycle-times; reduced price and non-price factors; faster NPI processes, better products through supplier innovation, etc. Also use it to reduce trade-offs between cash, cost, delivery, etc. Read AMRs heirarchy of supply chain metrics if you haven’t.

and, finally,

From Why I’m Not a Poet:

On the topic of the doctor‘s literary genius
The student has indeed become the master. You are truly foolish.I lay my bells at your feet.

I hope that this means that the SpendFool will stop lurking and start offering up some of his wisdom on this blog. (Comments may require an e-mail, but there’s no reason it can’t be an anonymous e-mail account on a free server.)

* All posts prior to 2012 were removed in the Spend Matters site refresh in June, 2023.

Fortune’s Dumb Supply Chain Moments

Fortune recently posted their 101 Dumbest Moments in Business for 2007. I found the following five supply-chain related moments to be quite humorous.

Free Virus for All!

A Belgian IT security consultant, testing Google’s ability to block harmful advertising, posts an add that reads “Is your PC virus-free? Get it infected here!” Google accepts its, displays it 259,723 times, and 409 web surfing morons actually click on the add!.

Yeah, I’d like that e-book, those mp3s, and a new virus for my PC. The 27 viruses currently on my machine are only slowing it to a snail’s pace. I’m sure I can get it down to sloth-speed!

Supply Chain Lesson:

Make all of your processes and e-tools as idiot proof as possible. There’s no telling what a moron will do given the opportunity!

Who’s Murphy?

On July 24, San Francisco data-center operator 365 Main issues a press release touting its 24/7 reliability: “In the unlikely event of a cut to a primary power feed, the state-of-the-art electrical system instantly switches to live backup generators, keeping the data center continuously running.” That day a power outage hits and three of its backup generators fail, taking down high-profile customers including RedEnvelope, Technorati, and Craigslist.

We’re not the Titanic! We won’t sink!

Supply Chain Lesson:

It doesn’t matter if you never met Murphy, his laws still apply! Don’t … Get … Cocky! You can never do away with risk!

VaporTech

John Griffin, CEO of a Livermore, California, startup, pockets about $750,000 of seed capital after lying to investors lured by the company’s promise to develop a “dirt eater” to clean toxic soil. After reportedly spending the money on such necessities as a Ferrari, Super Bowl tickets, and steroids, Griffin is sentenced to 30 months in prison. The name of the startup: VaporTech.

VaporTech isn’t the name of a cool new technology powered by steam – especially considering steam-powered devices have existed for almost 2000 years. (Remember the aeolipile from engineering history class?) It’s another name for VaporWare, which is a software or hardware product that is announced, but never emerges.

Supply Chain Lesson:

If it’s too good to be true, it probably is.

They don’t call it the European Union for nothing!

To highlight its role as a patron of the arts, the EU posts a mashup on Youube featuring two dozen sex scenes from movies it has funded, followed by the line, “Let’s come together.”

Maybe that’s why the Fitworld gym in Heteren (in the Netherlands) introduced Naked Sunday.

Supply Chain Lesson:

No comment!

My factory for a screw!

Literally! A worker in a German screw factory smuggles out 2,000 to 7,000 screws per night, ultimately stealing more than a million units. He sells the screws below cost on the Internet, artificially depressing the entire screw market.

Supply Chain Lesson:

Don’t forget security!