Latest news with #Sourcing
Mint
2 days ago
- Business
- Mint
Rethinking hiring: AI as a partner in finding the right job and talent
Job seekers often experience a tense wait after submitting applications, hoping to be noticed by systems that may not fully understand or assess their potential. Recruiters, at the same time can be overwhelmed by the volume of resumes, tight deadlines, and the challenge of finding candidates who possess both the right skills and team fit. A recent survey by Indeed in India indicates that a significant challenge for employers is finding candidates with appropriate skills. At 76%, a majority of employers reported difficulty in sourcing qualified talent with the necessary expertise. This gap can be attributed to the limitations of traditional hiring methods in a fast-paced world. Artificial Intelligence (AI) can play a role here, as it is continually reshaping the future of work. AI can help bridge this gap by automating repetitive tasks, allowing recruiters to focus on real connections. It can also assist job seekers in finding suitable roles by filtering information and highlighting opportunities that align with their goals. For businesses, finding suitable candidates involves a complex process that includes resume screening, interviews, and onboarding. Employers today often seek candidates who align with their company culture and team values, in addition to technical skills. Job seekers are also looking for more than just compensation; they often desire growth opportunities, flexibility, and a sense of purpose. Hiring processes are increasingly complex. Recruiters may experience information overload, often reviewing an overwhelming overload of resumes for a single position, which can lead to fatigue, delays, and the possibility of missing strong candidates. Industry reports suggest that an average corporate job opening can attract over 250 applications, with only a small number progressing to the interview stage. Meanwhile, job seekers can become frustrated by slow response times, lack of feedback, and the emotional impact of being ignored or 'ghosted.' Many feel that the current systems may prioritise a select set of keywords over a candidate's full potential. Furthermore, 83% of Indian employers indicate a need for more effective hiring platforms to address the growing skills mismatch. Switching careers can be a significant undertaking. Determining which roles align with one's skills, identifying industries open to new entrants, or assessing one's qualifications can be a personal and sometimes discouraging process. Recruiters are often under pressure to fill roles quickly, and may not have the time or tools to identify potential beyond what is immediately visible on a resume. Tools like Indeed's Smart Sourcing can help recruiters by filtering resumes and assisting in understanding what makes a candidate a good fit. It can use information from previous hires and aggregate data to make tailored recommendations to employers on candidates. It can generate quick, AI-powered candidate summaries and help tailor outreach messages. For employers, this could potentially save time and increase the likelihood of connecting with suitable individuals. With access to an active talent pool of nearly 30 crore workers globally, Smart Sourcing can help businesses find candidates efficiently. Indeed is committed to simplifying the hiring process, not just for efficiency but to create a better experience for employers and job seekers alike. Our vision is to help people get jobs. That requires us to work on behalf of both participants in this two-sided conversation. Human-AI partnership shaping tomorrow's workforce Technologies like machine learning and natural language processing are contributing to more personalised and equitable career paths. AI is evolving to help map career journeys based on individual strengths and trends. It can also expand access for people with disabilities and those in remote locations, with many already benefiting through Indeed's tools in smaller towns. However, recruitment remains a deeply human process. When used thoughtfully, AI can help uncover potential that might otherwise be overlooked. AI can enhance judgment, but does not replace it. Empathy, intuition, and meaningful conversation continue to be essential. By removing routine and rote work, we can get humans to focus on the things that humans can do best, applying judgment in an uncertain world. This article has been written by Madhu Kurup, Vice President of Software Engineering, Indeed. Note to the Reader: This article is part of Mint's promotional consumer connect initiative and is independently created by the brand. Mint assumes no editorial responsibility for the content.
Business Wire
08-07-2025
- Business
- Business Wire
Levelpath Recognized in the 2025 Gartner® Hype Cycle™ for Procurement and Sourcing Solutions
SAN FRANCISCO--(BUSINESS WIRE)-- Levelpath, the leader in AI-native procurement platforms, today announced its inclusion in the 2025 Gartner® Hype Cycle™ for Procurement and Sourcing Solutions. The company was recognized as a Sample Vendor for both Generative AI for Procurement and Intake Management, we believe validating Levelpath's pioneering role in transforming procurement through breakthrough AI innovation. The future of procurement is here, and it is intelligent. While procurement teams have struggled with fragmented data, manual processes, and complex workflows, Levelpath has reimagined what is possible. Built from the ground up for the AI era, their platform goes beyond simple automation by thinking, learning, and evolving with your enterprise. Procurement That Thinks for Itself Levelpath's proprietary Hyperbridge reasoning engine does not just process requests; it understands intent, predicts needs, and orchestrates complex workflows across your entire enterprise. Levelpath's results speak for themselves: Tenfold efficiency gains in sourcing and intake management Up to 70% operational efficiency gains $26 billion in enterprise spend managed through Levelpath Sixty percent reduction in cycle times through intelligent automation Complete visibility across all procurement activities in real-time The New Standard for Procurement Excellence In our opinion, the Gartner Sample Vendor inclusion validates what Levelpath customers already know: AI-native architecture delivers transformational results that retrofitted solutions simply cannot match. Here is how we feel Levelpath redefines procurement excellence: Conversational intelligence: Transform how your teams work. Natural language requests become intelligent actions. No training required. No complex interfaces. Just speak to your procurement platform as you would a trusted colleague. Autonomous operations: Levelpath's AI agents proactively manage supplier onboarding, conduct risk assessments, and ensure compliance before you even know there is an issue. Unified intelligence: One platform. One source of truth. Every supplier, every contract, every decision connected through intelligent automation that eliminates silos and accelerates outcomes. Beyond these core capabilities, Levelpath's AI-native architecture delivers specialized solutions that address procurement's most persistent challenges. Intake Management Revolutionized Levelpath transforms the procurement request experience from frustrating to effortless. Users describe what they need in plain English. The platform's AI interprets, validates, and routes requests through the right approvals automatically, ensuring compliance without compromising speed. "We believe this recognition reaffirms Levelpath's commitment to helping procurement teams navigate complexity with cutting-edge solutions that integrate technology, suppliers and business users," said Alex Yakubovich, CEO of Levelpath. "Our focus on AI-native innovation ensures procurement and the business remain competitive and future-ready in the evolving landscape." Trusted by Industry Leaders Fortune enterprises worldwide, including Ace Hardware, Amgen, Coupang, Fortrea, GATX, SiriusXM, SSM Health, and Western Union, have chosen Levelpath to transform their procurement operations. They have experienced rapid deployment, significant ROI and measurable improvements in productivity and efficiency. The competitive advantage of early AI adoption in procurement has never been clearer. Empowering Procurement Leaders Through AI Education Building on this recognition, Levelpath is launching an AI Masterclass series to accelerate AI adoption across the procurement community. The interactive sessions bring together procurement leaders from Fortune enterprises to share proven use cases, exchange best practices and transform AI curiosity into measurable results. From triaging intake requests in seconds to accelerating contract workflows, each monthly session offers attendees actionable playbooks they can implement immediately, creating a collaborative environment where procurement professionals can experiment, innovate and grow together. The Masterclass series addresses the reality that successful AI implementation in procurement requires more than technology, it demands strategic thinking, operational excellence and community learning. Through live Q&As and peer networking, participants gain insights into how AI is reshaping procurement's ability to deliver value, drive compliance and respond to business needs at unprecedented speed. Whether just beginning their AI journey or seeking to deepen expertise, procurement leaders are using these sessions to evolve from AI-curious operators into AI-powered champions, positioning their organizations for competitive advantage in the intelligent procurement era. Join Levelpath's monthly AI Masterclass series starting Friday, July 25th, featuring SSM Health and other Fortune enterprise leaders as they share proven AI procurement strategies and actionable playbooks you can implement immediately, learn more about this ongoing monthly series and register now to transform your procurement operations. To explore the full landscape of AI innovation in procurement and understand where these transformative technologies are heading, download a complimentary copy of the 2025 Gartner® Hype Cycle™ for Procurement and Sourcing Solutions to learn more about Levelpath's recognition. Gartner, Hype Cycle for Procurement and Sourcing Solutions, 2025, Kaitlynn Sommers, Micky Keck, Lynne Phelan, Cian Curtin, Chaithanya Paradarami, Martin Shreffler, 30 June 2025 *GARTNER is a registered trademark and service mark of Gartner, Inc. and/or its affiliates in the U.S. and internationally, and HYPE CYCLE is a registered trademark of Gartner, Inc. and/or its affiliates and are used herein with permission. All rights reserved. Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner's research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose. About Levelpath Levelpath is the leading AI-native procurement platform transforming how global enterprises manage indirect spend. Built from the ground up for the AI era, our platform unifies procurement operations through intelligent automation, featuring an intuitive stakeholder interface, advanced workflow orchestration, and our proprietary Hyperbridge reasoning engine that delivers real-time intelligence and complete visibility across all procurement activities. Trusted by leading Fortune enterprises worldwide, including Ace Hardware, Amgen, Coupang, Fortrea, GATX, SiriusXM, SSM Health, and Western Union, Levelpath's AI-native architecture enables organizations to collaborate smarter, operate faster, and scale procurement operations that drive measurable business value. Headquartered in San Francisco, Levelpath is backed by Battery, Benchmark, Redpoint Ventures, 01A, Menlo Ventures, NewView Capital, and World Innovation Lab. Learn more at or connect with us on LinkedIn.
Yahoo
04-06-2025
- Business
- Yahoo
Old Dominion Blames ‘Economic Softness' for Revenue, Volume Slips
Old Dominion says softness in the domestic economy has tanked demand and volumes, costing the trucking giant revenue. In a second-quarter sales update, the less-than-truckload (LTL) giant acknowledged that revenue per day decreased 5.8 percent in May from the year prior. More from Sourcing Journal Trump Doubles Duties on Metals, Judge Dismisses California's Tariff Lawsuit Global Economic Growth Will Be Blunted By US Tariffs, OECD Says Flexport Debuts Tariff Simulator as Customers 'Need Clarity on Costs' The average total is a slight improvement from the 6 percent decline that Old Dominion forecast for the full month of April, when macroeconomic uncertainty surrounding the Trump administration's tariffs began to show its face. But the 5.8-percent drop is still worse than the initially expected 5-percent-per-day weakening of revenue for the full second quarter, outlined by chief financial officer Adam Satterfield in an April earnings call. At the time, he expected total revenue for the quarter to come in at $1.4 billion. Old Dominion Freight Line CEO and president Marty Freeman didn't explicitly mention tariffs in his statement. But trucking companies in general, which already have been navigating through a three-year freight recession, have had to deal with blowback from the duties initially put into effect in April. As import bookings into the U.S. fell and ocean carriers began blanking sailings on the Pacific Ocean, trucking firms endured a brief period where cargo pickups out of America's two largest ports—Los Angeles and Long Beach—plummeted. Alongside the tariffs, the Purchasing Managers' Index (PMI), which gauges the overall monthly health of the manufacturing sector, stayed in contraction territory during May at a rate of 48.5 (an index over 50 represents growth). Struggling domestic manufacturing activity has hampered trucking industry demand throughout the freight recession. May's overall tonnage numbers did not help Old Dominion's case. The main culprit for the trucking firm's daily revenue decline was an 8.4 percent decrease in LTL tons per day—itself a larger descent than the 6.3 percent decrease the company experienced in the first quarter. A 6.8 percent dip in daily LTL shipments, along with a 1.9 percent decrease in LTL weight per shipment, contributed to the tons-per-day decline. The falloff was partially offset by an increase in LTL revenue per hundredweight, which refers to the revenue generated for each 100 pounds of freight shipped. Total May revenues for Old Dominion were also impacted by lower fuel prices, which kept down rates. Although the company didn't have a material stock price change due to the update, BofA Securities analysts revised their price target for the company down from $183 to $171. The change came just two days after Goldman Sachs increased its target for Old Dominion from $190 to $200, while upgrading the company from 'neutral' to 'buy.' Nevertheless, Old Dominion remains undeterred in maintaining its place among its LTL brethren. Satterfield said market share remained within 12 percent to 13 percent in the April call, with Freeman indicating that its position was unchanged. 'We believe that our market share has remained relatively consistent throughout this extended period of economic softness, despite the year-over-year decrease in our LTL volumes,' said Freeman. 'Customers have continued to value our industry-leading service, which supports our ongoing yield management initiatives. While the macroeconomic environment remains uncertain, we will continue to focus on executing on our long-term strategic plan.' As Old Dominion navigates the soft demand environment, one of its top former competitors is still aiming to offload more real estate as it liquidates. Yellow Corp., which ceased operations in July 2023 and has since endured a two-year bankruptcy process, laid out plans to tentatively sell four more terminals for $6.8 million. The trucking company's estate filed a motion with a Delaware bankruptcy court Friday requesting approval for the sale. The owned properties include a $2.6 million, 68-door terminal in Knoxville, Tenn. and a 46-door site in Southington, Conn. that would sell for $2.8 million. Two smaller sales would be a $1.2 million, 31-door terminal in Port Allen, La., and a $285,000, 12-door service center in Tupelo, Miss. Unlike many of Yellow's other terminal sales, which have gone to companies like Old Dominion, XPO, Estes Express Lines and Knight-Swift, these divestitures are not to trucking firms. Prior to these sales, the estate sold off 10 service centers last month for $14.3 million, including three to another former competitor, Saia. A separate Friday filing with the court showed that Yellow is rejecting unexpired leases on four terminals with a total of 328 doors. Those facilities are in Phoenix; North Billerica, Mass.; Visalia, Calif.; and Manassas, Va. Yellow's estate has sold roughly 190 terminals for more than $2.2 billion since its liquidation first began in December 2023. The first bankruptcy auction divested the bulk of terminals, with 130 offloaded for a combined $1.88 billion. The company now has roughly 70 owned and leased terminals that have remained unsold. Sign in to access your portfolio
Yahoo
08-04-2025
- Business
- Yahoo
US Trade Czar Grilled By Congress as Trump Moves Forward With Triple-Digit China Tariffs
Despair and confusion overtook the U.S. stock market on Tuesday following the White House's confirmation that President Donald Trump would make good on his threat to impose triple-digit tariffs on China-made goods. While Wall Street saw a cautious rally in the morning hours, any hopes that the administration might reach positive outcomes in negotiations with trade partners in advance of the midnight deadline dissipated as the day progressed. More from Sourcing Journal Shein Wants to Diversify Its Supply Chain. China May Not Let It. De Minimis Ban Alters Fate of 1.4 Billion Packages Annually Ex-Asia Shipments Expedited, Paused or Delayed Ahead of Tariff Deadline China, which hit back at the U.S. with retaliatory duties following Trump's reciprocal tariffs announcement last week, will see an added duty burden of 50 percent beginning Wednesday, bringing its all in tariff total to a staggering 104 percent. As White House press secretary Karoline Leavitt delivered the verdict from the briefing room, U.S. Trade Representative (USTR) Ambassador Jamieson Greer faced probing questions from Senate lawmakers about the impacts the duties could have—and the effects they are already having—on people and industry. Constituents, U.S.-based retailers and manufacturers are withering under the weight of the administration's trade policies, they said. Several Republicans seemed incredulous. What is the administration's plan, and how long can this go on? For nearly three hours, lawmakers grilled Greer, whose responses, while measured, offered few new insights. And what he did reveal contributed to the consternation that many are already feeling. Much confusion stems from the muddled messaging on the purpose of the tariffs—whether they are being used as points of leverage or bargaining chips, or whether the president's dubious assertions about raking in billions in revenue for the federal government are the true objective. 'The President has indicated that he's willing to negotiate with parties that want to pursue reciprocal trade with the United States,' Greer said from the hot seat, but he acknowledged, 'We don't have any particular timeline set on that.' 'The trade deficit has been decades in the making, and it's not going to be solved overnight,' he added. The response was unsatisfactory for Senator James Lankford (R-Ok.), who spoke on behalf of companies that shifted sourcing strategies during Trump's first term in office. He pointed to an Oklahoma brand that spent 'millions of dollars' retooling its supply chain to decrease dependence on China only to be hit now with staggering duties on the goods it imports from Vietnam. 'They spent all the money, spent all the time, shifted out of China, got to Vietnam and established there. Now they're saying, 'We've got giant costs in Vietnam at this point,' so they're going to have to renegotiate with every single retailer that they sell to,' including Walmart, Target and Costco, he said. Do they pause those talks or press on, not knowing what the coming days and weeks will hold? Greer had no answer to the query, but reiterated oft-stated statistics about the size of Vietnam's trade surplus with the U.S. While it's true that Vietnam imports far less from the U.S. than it takes in (the trade imbalance rings in at $123.5 billion) Lankford said succinctly, 'I don't anticipate that we're going to ever have equal trade with Vietnam. We're much larger economy than they are.' Most countries in the world will simply never buy as much as we purchase, he added, illuminating the crux of the issue. The Oklahoma senator also pointed to issues plaguing domestic apparel manufacturers. 'Obviously, this is a challenge,' as they rely on 'different pieces that are bought from different countries,' he said, referring to the inputs and materials that many U.S. cut-and-sew operators source from overseas. Will there be an exclusion process for the elements that make up a finished garment? No, Greer said. 'The president has been clear with me and with others that he does not intend to have exclusions and exemptions,' he said. 'I've heard from textile manufacturers for many years that they would love to have a situation where Western Hemisphere textile and garment manufacturing is more competitive, and maybe we're setting up the conditions for that.' Senator Michael Bennet (D-Col.) called the USTR's bluff, saying that the administration's spray-and-pray tariff policy undermines nearshore friends and collaborators as well as offshore foes. 'I still cannot fathom why we are treating Canada and Mexico, our largest trading partners, basically the same way we're treating Beijing. It doesn't make any sense to me; it makes no sense that we would do it all at the same time like that,' he said of the indiscriminate nature of the tariffs. Speaking about small businesses in his home state, Senator Sheldon Whitehouse (D-R.I.) accused Greer of deflecting questions about immediate tariff impacts and reverting to the party line: 'Short term pain for long term gain.' That mentality won't do for SMBs and mom-and-pops, which could be out of business before the dust settles on any forthcoming trade negotiations. 'Rhode Island is a small business state,' and some of its manufacturers have an integral role to play in domestic supply chains, he said. But they need access to the imported inputs necessary to produce. 'If we're not looking out for these small businesses that are actually going to have to lock their doors and close the shutters and fire their employees and go out of business, I think you've missed a huge hole in the problem that these tariffs have created,' he said. 'If all you're listening to is the big, mega-corporations who can move things around the world and have the resources to dodge these effects, you're not getting the straight story.' Greer said the administration has a trade advisory council made up chiefly of small business stakeholders. 'If a small business has gone broke, it's not very amenable to a meeting. They don't exist any longer,' Whitehouse retorted. Senator Raphael Warnock (D-Ga.) continued to push on the exclusion issue, pointing to a business in his home state—Bamblu, a maker of bamboo-based sleepwear and sheets, owned by local entrepreneur Angela Hawkins. 'Angela's products are made overseas, because you can't really find bamboo fabric made in the United States. What should Angela do? Pay the new tax, raise her prices and risk losing customers? Or is there a process for her to apply for an exclusion from the Trump White House?' he asked. 'She'll have to work with her business partners and find out about sourcing,' Greer said, reiterating that at this point, the White House has no intention of implementing an exclusion process as it did during Trump's first term for Section 301 tariffs on China-made goods. 'So she'll just have to figure it out,' Warnock surmised. 'She might even go out of business.' Greer may have hoped for an ally in Senator Chuck Grassley (R-Iowa), the longest-serving Republican in the upper chamber, but the Senate stalwart has recently made his feelings clear: the legislative branch has delegated too much power to the president on trade issues. Grassley last week introduced bipartisan legislation that would check the president's authority when it comes to tariffs, reinforcing Congress' ability to remove them at any point. He did attempt to gain clarity on the foremost issue nagging at lawmakers, business-owners and the general public. 'My question to you is: in the medium- to the long-term, do you plan to turn these tariffs into trade deals to reduce tariffs and non-tariff barriers? I support that,' Grassley said. 'On the other hand, if the purpose is to stall on negotiations in order to keep tariffs high for the sole purpose of feeding the U.S. Treasury, I oppose that. So is this administration for trade reciprocity, or for Treasury replenishment?' Greer said the president still plans to engage in negotiations 'immediately' with countries that are interested in lowering trade barriers and trade surpluses. But while the administration's strategy has been far-reaching and wide-ranging, affecting more than 180 countries across the globe, resolutions will be reached on a 'country by country' basis. In short, it will take time that many U.S. businesses don't have to waste. The USTR Ambassador said the trade agency has fielded calls from officials from 50 nations since announcing the reciprocal duties last week—and yet, all of the president's proposed tariffs are slated to go into effect Wednesday. 'There are going to be some countries that are not able to address their non-tariff barriers or tariffs or the deficit fully, and there will be others who I think will be able to do that, and… the president will have the option of making a deal with them,' Greer said. 'We're certainly seeking reciprocity,' he added, acknowledging that there will be a 'revenue effect' for the federal government once tariff payments start rolling in. 'But we need to reshore manufacturing, to get rid of our agricultural deficit and we need to make sure that if countries are going to trade with us, it has to be on a reciprocal basis.'
