Canada rail shutdown raises fears of economic disruption
Canada's major freight railroads, Canadian National Railway (CN) and Canadian Pacific Kansas City Railway (CPKC), have suspended operations due to a contract dispute with workers, a situation that could have a significant economic impact on the U.S. Supply chain expert and former Toronto resident Dr. Johnny Lentusanasem said the suspension could have a significant impact on the U.S. supply chain, given that Canada is the second-largest trading partner of the United States. Also read: How Canada's rail strike will impact freight markets The Canadian government has stepped in to force rail companies into arbitration with unions, but the duration and outcome of that process will determine the extent of the disruption. The outage affects both the rail and trucking industries, and because rail and trucking are so interconnected, it could cause freight costs to soar or even a complete halt to trucking operations. The unprecedented shutdown, which involves Canadian National Railway Co. and Canadian Railway Corp., also threatens commuter rail…
U.S. port and Canadian rail strikes threaten North
Impending strikes by Canadian railroads and ports along the U.S. East and Gulf Coast will severely disrupt North American supply chains. The strikes are expected to create severe operational challenges for the container logistics industry, leading to increased costs, delays and rerouting for shippers and cargo owners. Also read: Canadian rail strike looms as unions and rail operators reach stalemate If no agreement is reached by August 22, strikes will begin, targeting key areas such as automation and pay increases. “Given our continued forecast of inventory builds, we expect freight rates to likely decline in the near term. However, with strikes looming at Canadian railroads and U.S. ports, we could see an immediate increase in freight rates as market participants prepare for significant disruptions. This is a common response to potential disruptions, as uncertainty drives up costs.” Christian Roeloffs, Co-founder and CEO, Container xChangean online marketplace for container trading and leasing based in Hamburg, Germany. “In the medium term, we…
Ningbo port closure causes global supply chain disruption
The global trade landscape has always been delicate, and recent events such as the Red Sea crisis and the Baltimore Bridge accident have added complexity. The sudden closure of China’s Ningbo Port due to a YM Mobility container explosion was initially considered a major disruption, but the port quickly reopened within 80 hours, mitigating some of the expected consequences. See also: Necessary measures to reduce the impact during Ningbo Port closure The closure of Ningbo Port, which accounts for nearly 29% of China’s total ship traffic, initially appeared to have a significant impact on global trade, but the rapid resolution of the situation limited its impact. However, there were some supply chain disruptions during the brief outage. The strategic importance of Ningbo Port The Port of Ningbo remains an important player in global logistics, facilitating the flow of goods between the Far East and major global markets such as Europe and the United States. In 2023, the container throughput of…
TT Club highlights ongoing efforts to prevent container losses
Container losses at sea have always been a challenge, often exacerbated by adverse weather conditions. Leading international cargo insurer TT Club continues to work with the container industry to mitigate such incidents. See also: TT Club warns: Ignoring container seals could compromise cargo security The World Shipping Council’s annual survey shows that container losses hit a record low in 2023, with 33% of lost units later recovered. Despite this positive trend, TT Club’s analysis points out that weather is the most important factor in these losses, highlighting the complexity of the issue. TT Club is actively involved in the MARIN TopTier joint industry project, which brings together more than 40 industry and government stakeholders to address the causes of container losses. The project has already provided important guidance on mitigating risks such as parameter rollover. Peregrine Storrs-Fox of TT Club stressed the importance of responsibility throughout the freight supply chain, from accurate cargo weight verification to proper load distribution. Differences…
Artificial Intelligence in Warehouse Management Market: By
Artificial intelligence (AI) in warehouse management refers to the use of advanced algorithms and machine learning techniques to improve the efficiency and effectiveness of warehouse operations. AI systems can automate tasks such as inventory management, picking processes, and logistics planning. They are designed to predict demand, optimize inventory levels, and even guide autonomous robots to move goods around a facility, reducing errors and increasing the speed of operations. Also read: Optimizing warehouse automation: Understanding key considerations According to Market.us, Global Artificial Intelligence in Warehouse Management Market It is expected to experience significant growth, and the market size is expected to increase from $2.6 billion by 2023 About Billion USD by 2033The strong expansion reflects 39.0% During the forecast period 2024 to 2033This growth trajectory highlights the increasing integration of AI technologies in warehouse management, driven by the need for improved operational efficiency and data-driven decision-making in supply chain operations. The artificial intelligence in warehouse management market is experiencing strong growth,…
The future of autonomous shipping: from coastal routes to
The concept of autonomous ships sailing along coastlines, inland waterways and even on the high seas is no longer confined to science fiction. During a recent CONNECTING PORTS talk show hosted by HPC Hamburg Port Consulting (HPC), experts came together to discuss the emerging reality of autonomous shipping and highlight how this technology is gradually becoming part of modern logistics. Also read: Eventual autonomous shipping faces huge hurdles The forum was moderated by Christina Prieser, Associate Partner at HPC, and featured insights from three industry leaders: Ørnulf Jan Rødseth, Managing Director of the Norwegian Forum for Autonomous Ships (NFAS), Marc Holstein, Head of the SEAFAR Remote Operations Centre in Antwerp, and Antoon van Collie, CEO of ZULU Associates. Rødseth shared Norway’s pioneering initiatives in semi-autonomous shipping, including the world’s first semi-autonomous container ship, which will begin transporting cargo in spring 2022. Operating with a minimal crew and controlled remotely, the vessel demonstrates the practical application of autonomous technology in coastal…
Supply Chain Mastery: Navigating a Globalized World
Globalization and supply chain management are topics that should be mastered In a world that has become a global village through technology and economics, the term “supply chain” may sound like something you hear in executive meetings, but it is much more than that. It is the lifeline and an integral part of every organization, big and small. You can think of it as the fabric that connects all the components necessary to produce and supply a certain product or service from supplier to consumer. Like any lifeline, if it is strong, it holds everything up; if it is weak, then everything collapses. But if it is weak, everything turns into a fiasco. Also read: How geopolitical forces are reshaping global supply chain strategies A word about the current global supply chain environment, explaining why supply chain efficiency is more important than ever Supply chain management is more than just arithmetic, it is a science worth exploring. It is about…
Efficient city construction: a quick solution to boost economic development
In an era of rapid urbanization, efficient city construction has become key to driving economic expansion. The challenges facing cities today are multifaceted and require innovative and rapid solutions to meet the needs of growing populations while promoting sustainable economic growth. By focusing on key areas such as infrastructure, technology, and smart city planning, cities can be transformed into thriving economic centers. This article explores several strategies that can be implemented to ensure efficient city construction and economic expansion. See also: Addressing global economic challenges: UN report highlights concerns and calls for multilateral action 1. Prioritize infrastructure development Modern transportation network Investing in efficient transportation systems is the cornerstone of economic growth. Well-developed public transportation can reduce traffic congestion, lower transportation costs, and increase productivity by reducing commuting time. Cities should prioritize the construction and expansion of rail, subway, and bus networks that connect residential areas with commercial and industrial centers. Public infrastructure Adequate access to utilities such as water,…
Jill Gross recognized globally as a “Top Woman in Logistics”
Jill Gross, Vice President of Strategic Accounts at Sunset Transportation, has been named a “Top Woman in Logistics” by Global Trade Magazine. She is one of only 20 women featured in the magazine’s latest issue of “Women in Logistics,” recognized for her leadership in sustainability, logistics innovation, and dedication to creating career opportunities for women in the industry. Also read: 20 Women Innovating Logistics and Supply Chain Gross has played a key role in driving change at Sunset Transportation, including achieving an impressive Sustainability Rating (S Rating) of 81 in 2023. The rating has been a key factor in contract awards since 2019, reflecting Gross’ commitment to sustainability and its impact on the supply chain. "Everything I do is driven by my mission to revolutionize supply chain operations," said Gross. "This recognition is not only a personal milestone, but also a testament to my ongoing commitment to innovation and inclusion in the logistics industry. I am honored to be recognized…
Upcoming port projects offer numerous opportunities for collaboration
Port infrastructure in the United States is a key component of economic growth, so it is not uncommon to see significant capital investments through federal government grants. It is estimated that federal investment in port infrastructure will reach approximately $163 billion between 2021 and 2025. These investments are primarily focused on increasing capacity and efficiency, especially given that maximum vessel size has doubled over the past 15 years. It is estimated that at least $12 billion will be needed for waterside infrastructure at coastal ports between now and 2031, with additional billions needed for landside port infrastructure. Many of the current and upcoming projects are in the planning stages, and the ones outlined in this column represent the types of initiatives that will apparently be launched across the United States in the coming years. Also read: Top 25 container ports in the United States The City of Menominee, Michigan, received $21 million last month from a grant program administered by…
Maersk pledges $2 billion to upgrade Pakistani ports and
Danish shipping giant Maersk has announced that it will invest $2 billion in Pakistan's ports and transportation infrastructure over the next two years. The investment is aimed at boosting Pakistan's infrastructure and promoting economic growth, a state-owned news agency reported. Also read: Maersk launches new methanol-powered container ship, advancing green shipping goals As part of the initiative, Pakistan Maritime Minister Qaisel Ahmed Sheikh plans to visit Denmark this month to sign a memorandum of understanding (MoU) between Maersk Line and the Karachi Port Authority. Qaisel Ahmed Sheikh stressed that Karachi has a huge potential to increase exports and the Maritime Ministry is committed to creating a conducive environment for the business community to take advantage of this opportunity. Earlier, Abu Dhabi Ports Pakistan CEO Khurram Aziz Khan announced an investment of $250 million in the Port of Karachi over the next decade during a meeting with Pakistani Prime Minister Shehbaz Sharif. Khan also outlined plans to invest $130 million in…
Shipping faces tough choices under new fuel regulations
Shipping companies are facing the challenge of meeting stringent carbon intensity reduction targets or face escalating penalties as the implementation of the FuelEU Maritime Regulation approaches. The regulation will come into force on January 1, 2025, imposing progressively stricter limits on the greenhouse gas (GHG) intensity of energy used by ships, with requirements becoming stricter every five years. Also read: Innovative strategy reduces cargo ship emissions by 17.3% The GHG intensity standard applies to all energy consumed during voyages and calls within the EU, and 50% of voyages into and out of the EU. To comply, shipping companies must pay a FuelEU fine or take steps to reduce their GHG intensity to meet regulatory limits. This can be achieved by using alternative fuels such as biofuels or LNG/LPG, or through pooling, where vessels that exceed their targets can offset those that underperform. However, Albrecht Grell, managing director of Hamburg-based maritime intelligence firm OceanScore, noted that many shipping lines, especially smaller…
Maersk launches new methanol-powered container ship
Danish shipping giant AP Moller Maersk has taken delivery of a new ultra-large container ship (ULCS) at a ceremony in the Port of Aarhus. The addition of the vessel marks an important step towards the company’s ambitious goal of achieving “net zero” greenhouse gas emissions by 2040. Also read: Maersk’s path to carbon neutrality still requires LNG The vessel, named Antonia Maersk, is one of a series of new methanol-fuelled vessels that Maersk will receive between 2024 and 2025, built by South Korea’s HD Hyundai Heavy Industries. The move is in line with Maersk’s commitment to reduce emissions from its operations. Similar to its sister ship Ane Maersk, Antonia Maersk is 350 meters long, 53.5 meters wide, has a draft of 18 meters and a cargo capacity of 16,592 TEUs. The vessel can accommodate 30 crew members and features an innovative design that places the funnel at the stern while placing the bridge and accommodation forward to improve fuel efficiency…
Maersk warns shippers of potential supply chain challenges
Maersk has released an update on the North American market, focusing on the ongoing labor negotiations between the United States Maritime Union (USMX) and the International Longshoremen’s Association (ILA). With the existing contract between the two entities set to expire on September 30, industry stakeholders and shippers are increasingly concerned about potential disruptions at U.S. Gulf and East Coast ports. Also read: Maersk settles whistleblower retaliation case with U.S. Department of Labor The ILA has already submitted the required notices to government agencies and negotiating parties indicating that a strike may occur if a new agreement is not reached. However, due to a "no strike" clause until the contract expires, no action is expected before October 1. It is important to note that these notices do not guarantee a strike. Maersk remains optimistic that both parties are committed to reaching an agreement that keeps the supply chain robust and efficient. Despite the successful history of negotiations, the possibility of a…
Ports support new legislation to promote offshore wind and
The American Association of Port Authorities (AAPA) has formally endorsed the Shoreline Economic and Ecosystem Reinvestment Act (RISEE), a major piece of legislation spearheaded by Senators Bill Cassidy (R-LA) and Sheldon Whitehouse (D-RI). The proposed law seeks to distribute a portion of federal revenues generated from offshore leasing activities to state governments. These funds are critical to improving port infrastructure, accelerating projects, and strengthening the domestic supply chain. Also read: Severe ship shortage causes delays in offshore wind farm construction “The RISEE Act provides a critical opportunity for the port industry to contribute to U.S. manufacturing by building a new wave of energy infrastructure,” said AAPA President and CEO Cary S. Davis. “We applaud Senators Cassidy and Whitehouse for their bipartisan leadership on this forward-looking proposal. AAPA strongly urges Congress to pass this legislation before the year is out.” Additionally, the RISEE Act proposes to remove the cap on federal-state revenue sharing through the Gulf of Mexico Energy Security Act…
Ningbo Port resumes operations after recent incident:
Container xChangeAn online container trading and leasing marketplace, To inform the global container trading and leasing community about the recent explosion aboard Yang Ming Marine's vessel YM Mobility at the Port of Ningbo, China. See also: Necessary measures to reduce the impact during Ningbo Port closure On August 9, 2024, a container carrying dangerous goods was YM Mobile The vessel berthed at Ningbo Beilun Phase III Terminal. Operational Update: As of 00:00 on August 12, 2024, Ningbo Beilun Phase III Terminal has resumed loading and unloading operations after being closed for 60 hours due to the explosion, and the terminal has begun to gradually resume normal operations. Christian Roeloffs, Co-founder and CEO, Container xChange Emphasize the urgent need to be prepared in the face of such disruptions. “For container trading companies and those engaged in container leasing, this event presents some immediate challenges that are worth considering. The disruption at Ningbo port, combined with pre-existing congestion at key Asian ports,…
Ignoring container seals can compromise cargo security
TT Club, a leading freight insurance specialist, has expressed concern about widespread disregard for container seals in the supply chain, highlighting the key role they play in preventing and identifying cargo theft. While seals are not infallible, they are essential in tracking where, how and by whom theft occurs, yet their importance is often overlooked. See also: Maintaining Supply Chain Security: Responding to a Surge in Fraud and Cargo Theft TT Club’s latest security bulletin highlights the need to build a stronger security culture that prioritises the use and inspection of container seals. Despite the availability of various types of seals, from basic plastic seals to advanced digital seals, many supply chain operators fail to recognise their value in maintaining cargo integrity and quickly detecting theft. TT Club Logistics Risk Manager Josh Finch stressed the importance of properly managing the sealing process and the need for thorough checks at every stage of the supply chain. He warned that ignoring these…
U.S. Department of Commerce to host supply chain summit
The U.S. Department of Commerce, in partnership with the Council on Foreign Relations, announced a Supply Chain Summit to be held in Washington, D.C. on September 10, 2024. The event will bring together leaders from industry, government, academia, and civil society to discuss proactive strategies to enhance supply chain resilience and safeguard national security. See also: Building resilience: U.S. Department of Commerce marks Supply Chain Integrity Month The summit aims to shift the focus from responding to global supply chain disruptions to taking proactive measures to enhance economic competitiveness. Participants will share best practices for identifying and addressing supply chain vulnerabilities, with an emphasis on collaboration across sectors. A highlight of the event was the launch of the Commerce Department’s new Supply Chain Center, part of the International Trade Administration’s Industry and Analysis Division. The center aims to combine industry expertise with advanced data analytics to develop tools for assessing supply chain risks and drive targeted actions in critical supply…
Key measures to reduce railway disruptions in Ningbo
Container xChangeAn online container trading and leasing marketplace, A warning to the global container trade and leasing community of the serious consequences of the recent Yang Ming Marine container ship explosion YM Mobile The accident, which shut down one of the world's busiest container terminals, is expected to have major knock-on effects on global supply chains, especially on key trade routes out of Asia. See also: Dangerous goods container explosion causes fire at Ningbo Port; no casualties reported On August 9, 2024, a container carrying dangerous goods was YM Mobile The ship was moored at Ningbo Beilun Phase III Terminal at the time. The explosion involved organic peroxide materials, which resulted in the closure of the terminal until further notice. “As a result of this closure, the Port of Ningbo is no longer operating, which will exacerbate supply chain disruptions caused by Typhoon Gemi in July.” Christian Roeloffs, Co-founder and CEO of Container xChange. Christian Roelofs The urgent need to…
Chinese cargo ships sailing along the Arctic Northern Sea Route…
Chinese ordinary cargo ships have begun exploring new routes around the Red Sea, choosing the Arctic Northern Sea Route (NSR). See also: Red Sea crisis sends container freight rates soaring Xinxin Shipping Company's ships Xinxin Hai 1 and Xinxin Hai have begun crossing the melting Northern Sea Route, with the help of summer icebreakers allowing the two ships to pass smoothly. Scientists say climate change and melting ice sheets could soon make this Arctic route navigable year-round. The route would shorten the journey from China to Northern Europe by about 13,000 kilometers, significantly reducing the 20,000-kilometer journey through the Suez Canal and cutting the distance needed to go around the Cape of Good Hope by nearly half. Shorter routes could offer shipping companies a competitive advantage, potentially challenging faster modes of transport. However, Arctic navigation remains complex, especially for container ships. Ships traversing the route require ice-resistant hulls to withstand collisions with small ice floes, even in the wake of…
McLeod Software expands TMS capabilities with 24.2 update
McLeod Software, a leader in transportation management systems (TMS) for freight forwarders and carriers, has released significant updates to LoadMaster and PowerBroker 24.2. These updates include new partnerships and enhancements to existing integrations, further solidifying McLeod’s leadership in TMS technology. As part of the 24.2 upgrade, McLeod has established two new AI partnerships with Greenscreens.ai and Parade.ai. The integration with Greenscreens.ai provides PowerBroker users with real-time market rate data through the Rate Index, Pricing and Bidding, and Market Rate Export modules, ensuring brokers have instant access to current pricing information. Meanwhile, Parade’s Capacity CoDriver leverages generative AI to streamline carrier load inquiries, improve response efficiency, and optimize the load booking process. “The new AI integrations mark an important step toward a ‘new era’ of TMS for McLeod,” said Tom McLeod, CEO and founder of McLeod Software. “These advancements allow us to provide our users with more precise data, greater efficiency, and greater overall value, expanding the benefits they gain from…
One of America’s most business-friendly states welcomes
After nearly a century and a half of operating in California, Chevron has decided to pack up and head southeast to Texas. The multinational energy giant was in California long before Hollywood and Silicon Valley took root, but policy and regulatory differences over the past few decades have forced the company to make a decision that is ultimately not surprising. See also: Speedy Freight opens first U.S. location in Dallas, Texas Chevron will now be headquartered in Houston, the energy capital of the United States and the world. Equipment suppliers for the entire oil and gas supply chain are all within easy reach, as are top universities, from which Chevron will undoubtedly draw talent and research results. California Governor Gavin Newsom is running for reelection in 2022 and has vowed to go to war with Big Oil. Chevron and other companies are undoubtedly concerned, but Newsom is just the latest in a long line of politicians working to make California…
Delivery Management Software Trends 2024
The rapid development of technology has had a huge impact on the field of logistics and distribution management. It has ushered in a new era of efficiency and quality customer service. As organizations try to meet the growing demands of consumers, the use of modern distribution management software (DMS) has become very important. In this blog, we will explore the emerging trends in distribution management software and understand its impact on the business world. Also Read: How Delivery Management Software is Reshaping the Industry? Artificial intelligence and machine learning at the forefront Artificial Intelligence (AI) and ML (machine learning) will continue to be at the forefront of delivery management software trends. As the logistics landscape becomes increasingly complex, these technologies will continue to automate tasks, improve efficiency, and provide valuable insights into delivery performance. AI will be used to automate various aspects of the delivery process, while ML algorithms will reduce costs and enhance the customer experience. SAAS-based solutions continue…
How cargo theft creates problems for global supply chains:
Theft has always been a hindrance to the supply chain. Despite the security measures put in place to stop theft, cargo theft is still rampant today. Some of the consequences include damaged reputation, financial losses, insufficient inventory and production, and increased planning and resources. See also: Maintaining Supply Chain Security: Responding to a Surge in Fraud and Cargo Theft Logistics professionals must fully understand how fleets are attacked and how to prevent theft. Here are some important things they should consider. Reputation issues Reputation is always a top concern for businesses. Cargo theft may initially seem unrelated to a company’s image, but it is. When an outsider steals a consumer’s package while in transit, they don’t blame the thief. People assume that the fault lies with the company for failing to secure the package before it reaches its destination. Most customers may not be aware of this breach, which could lead them to assume the shipping company is responsible for…
Maersk’s road to carbon neutrality still requires LNG
AP Moller-Maersk is still working towards its carbon emissions targets, but market forces require them to take an alternative route. Also read: Maersk predicts Red Sea conflict will continue until 2024 Methanol has been promoted as an alternative to heavy fuel oil, known as bunker fuel, which has long powered shipping vessels and contributes 3% of all global greenhouse gas emissions each year. Like many other shipping giants, Maersk has signed contracts and ordered 25 ships that can run on bunker fuel and methanol. However, the supply of methanol has been a problem that has plagued the industry and ultimately the cost of this industry change. Global methanol production will be around 30,000 tonnes at the end of 2022. Maersk alone will need nearly 1 million tonnes to operate its new ships for a year. Nearly two years later, the oversupply situation has not improved, and the price of available green methanol is almost twice that of marine fuel. Green…
FedEx Restructuring – Technology and People Challenges
FedEx has embarked on a $1.5 billion company-wide restructuring. The Tennessee-based transportation and logistics giant announced last year that it would combine its Express and Ground delivery units into one business model. The move unsettled insiders because separate operating structures have long been a legacy of founder Fred Smith. However, market forces indicated that a change was needed. As e-commerce grows, companies like FedEx are adapting to new, non-business-to-business business models. The merger of Ground and Express now more closely resembles the structure of FedEx's main competitor, United Parcel Service. However, a key difference between the two is that UPS has a union workforce, while FedEx relies on contractors to perform Ground deliveries. New members of FedEx's board have pushed for a restructuring, but technology and productivity challenges have bogged down the effort. Ground and Express have operated as separate units for decades. In some communities, it's common for Ground and Express trucks to deliver packages to the same homes…
Redefining the customer in logistics
In the past, logistics service providers (LSPs) focused primarily on serving their direct customers, the shippers. If you worked for an LSP that served a large retailer, your primary focus was on serving that retailer's needs. Also read: 6 ways to increase logistics efficiency and improve customer relations However, the industry is evolving, and forward-thinking language service providers are expanding their horizons to consider their clients’ end customers. This shift is critical to maintaining resilience against market volatility and rate fluctuations. A change of perspective Traditional thinking for language service providers has always revolved around the direct customer – the shipper. While this approach works, it is outdated. Modern language service providers understand that to truly stand out, they must also focus on the shipper’s customers. It is no longer enough to only consider the needs of the direct shipper’s customers. Instead, you should also consider the needs and satisfaction of the people who purchase from the shipper’s customers. So…
Customized logistics for high-value unique needs
Shipping high-value and oversized vehicles such as racing cars, luxury cars and RVs (recreational vehicles) requires special attention to detail and a thorough understanding of international regulations. From professional handling and insurance to customs compliance and meticulous inspections, every step is critical. Also read: Choosing the right vehicle for your logistics needs: A comprehensive guide There are several ways to transport vehicles, including container shipping, roll-on/roll-off (RO-RO) vessels, and multipurpose vessels that can carry both containers and breakbulk cargo. With a RO-RO vessel, an RV, camper, or heavy vehicle such as a dump truck can be driven onto the transport vessel and secured. This method is generally more cost-effective, but offers less protection from bad weather. Ro-RO vessels are suitable for self-propelled cargo, such as oversized vehicles, trucks, and cars, which can be easily driven on and off the vessel using ramps. Containers are a safer option, offering effective protection from the elements and ensuring maximum protection for high-value vehicles,…
New committee works to strengthen U.S. supply chains
As if 2024 didn’t bring enough surprises to global shipping, the CrowdStrike software vulnerability that caused Microsoft’s operating system to crash has once again sent shockwaves through the system. The air cargo system has borne the brunt of the worst IT outage in history, while ports around the world have also been affected. The silver lining is that unrest often leads to action, and unions, ocean carriers and ancillary supply chain businesses are banding together to form a new trade group that will push for investment in domestic infrastructure to protect the supply chain. Also read: Top 25 container ports in the United States The Supply Chain Council is led by real estate development and public affairs executive Josh Wood, and its goal is to “develop and advance best practices and public policy at the federal, state and local levels.” Its board is chaired by a representative of logistics real estate company Prologis and includes the Laborers’ International Union of…
Sedex launches three innovative tools to enhance supply chains
Sedex, the global leader in supply chain sustainability, is pleased to announce the release of three groundbreaking products in 2024. Designed to help companies address evolving environmental, social and governance (ESG) challenges, these data-driven tools provide greater supply chain visibility, compliance with sustainability laws and robust ESG performance management. Also read: Transforming supply chain sustainability: Trax’s role in reducing emissions In an era when companies must balance operational demands with growing sustainability expectations from legislators, investors and consumers, detailed visibility into supply chain activities is essential. Sedex 2024 product launches include an updated SMETA 7.0 audit, a new environmentally focused Supplier Self-Assessment Questionnaire (ESAQ) and an enhanced Service Provider Self-Assessment Questionnaire (SAQ). SMETA 7.0 Updates Renowned for its comprehensive on-site assessment of sustainable practices, the SMETA audit is now in its seventh core iteration. This update is the result of a multi-year project to sharpen the focus on identifying and addressing complex issues within the supply chain workplace. Key enhancements…
Sedex launches three innovative tools to enhance supply chains
Sedex, the global leader in supply chain sustainability, is pleased to announce the release of three groundbreaking products in 2024. Designed to help companies address evolving environmental, social and governance (ESG) challenges, these data-driven tools provide greater supply chain visibility, compliance with sustainability laws and robust ESG performance management. Also read: Transforming supply chain sustainability: Trax’s role in reducing emissions In an era when companies must balance operational demands with growing sustainability expectations from legislators, investors and consumers, detailed visibility into supply chain activities is essential. Sedex 2024 product launches include an updated SMETA 7.0 audit, a new environmentally focused Supplier Self-Assessment Questionnaire (ESAQ) and an enhanced Service Provider Self-Assessment Questionnaire (SAQ). SMETA 7.0 Updates Renowned for its comprehensive on-site assessment of sustainable practices, the SMETA audit is now in its seventh core iteration. This update is the result of a multi-year project to sharpen the focus on identifying and addressing complex issues within the supply chain workplace. Key enhancements…
How geopolitical forces are reshaping global supply chains
In recent years, geopolitical events have exposed the fragility of global supply chains. The pandemic, the Russia-Ukraine war, and the Israeli-Gaza conflict have all clearly demonstrated the fragility of supply lines. These networks are primarily designed to reduce costs by taking advantage of low-cost labor and materials, but are easily disrupted by geopolitical events. To better understand the dynamics reshaping global trade, TradeBeyond’s new Retail Sourcing Report: Insights and Indicators for Q3/Q4 2024 provides strategic insights into how supply chains are adapting. For example, conflict in the Middle East has made the Red Sea route unviable, forcing container ships to take a longer, more expensive route around the Cape of South Africa. Combined with Asian port congestion that has limited container capacity, container shipping costs are being pushed up to pandemic levels. At the same time, Russia's conflict with Ukraine has led to a change in trade patterns, with Russia cutting back on its large energy exports to circumvent sanctions…
Reshoring and Offshoring: Financial and
The manufacturing industry has always been dynamic, subject to various economic, political, and technological changes. Two strategies that have had a significant impact on the manufacturing industry are reshoring and offshoring. Both approaches have their own financial and strategic implications, making the choice between them very complex. In this article, we will delve into the complexity of reshoring vs. offshoring, exploring their benefits, challenges, and factors that influence a company's decision to choose one over the other. Also read: Can reshoring of manufacturing usher in a new era of supply chain resilience? Understanding Offshoring Offshoring, the movement of manufacturing operations to countries with lower labor costs, became popular in the late 20th century as companies looked to reduce expenses and increase profit margins. China and other countriesIndia and Mexico have become major locations for offshoring due to their relatively low wages, skilled labor force and favorable trade policies. Financial benefits of offshoring The main financial advantage of offshoring is lower…
Reshoring and Offshoring: Financial and
The manufacturing industry has always been dynamic, subject to various economic, political, and technological changes. Two strategies that have had a significant impact on the manufacturing industry are reshoring and offshoring. Both approaches have their own financial and strategic implications, making the choice between them very complex. In this article, we will delve into the complexity of reshoring vs. offshoring, exploring their benefits, challenges, and factors that influence a company's decision to choose one over the other. Also read: Can reshoring of manufacturing usher in a new era of supply chain resilience? Understanding Offshoring Offshoring, the movement of manufacturing operations to countries with lower labor costs, became popular in the late 20th century as companies looked to reduce expenses and increase profit margins. China and other countriesIndia and Mexico have become major locations for offshoring due to their relatively low wages, skilled labor force and favorable trade policies. Financial benefits of offshoring The main financial advantage of offshoring is lower…
Reducing carbon footprint: How logistics can support green
The construction industry, known for its significant impact on the environment, has embraced green building initiatives to create sustainable buildings and contribute to the fight against climate change. However, an often overlooked but crucial aspect is the logistics that support these initiatives. Efficient logistics can significantly reduce carbon emissions, ensuring that the green building movement achieves its environmental goals. This article explores how logistics can support green building initiatives and reduce carbon footprints. Learn about green building programs The Green Building Program strives to create environmentally responsible and resource-efficient buildings throughout their lifecycle. This covers everything from design, construction, operation, maintenance, renovation and eventual demolition. Core principles include: Sustainable Site Selection and Design: Choose sites that reduce environmental impact and construct buildings that optimize natural light and energy efficiency. energy efficiency: Incorporate renewable energy and energy-saving systems. Water efficiency: Utilize water-saving fixtures and systems to reduce consumption. material selection: Use sustainable, recycled and locally sourced materials. Indoor Environmental Quality: Ensure…
Reducing carbon footprint: How logistics can support green
The construction industry, known for its significant impact on the environment, has embraced green building initiatives to create sustainable buildings and contribute to the fight against climate change. However, an often overlooked but crucial aspect is the logistics that support these initiatives. Efficient logistics can significantly reduce carbon emissions, ensuring that the green building movement achieves its environmental goals. This article explores how logistics can support green building initiatives and reduce carbon footprints. Learn about green building programs The Green Building Program strives to create environmentally responsible and resource-efficient buildings throughout their lifecycle. This covers everything from design, construction, operation, maintenance, renovation and eventual demolition. Core principles include: Sustainable Site Selection and Design: Choose sites that reduce environmental impact and construct buildings that optimize natural light and energy efficiency. energy efficiency: Incorporate renewable energy and energy-saving systems. Water efficiency: Utilize water-saving fixtures and systems to reduce consumption. material selection: Use sustainable, recycled and locally sourced materials. Indoor Environmental Quality: Ensure…
Maersk predicts trade disruptions to last until 2024
Disruptions to global trade caused by the conflict in the Red Sea are expected to last until 2024, a key indicator of the health of global trade, according to A.P. Moller-Maersk A/S. The announcement came as Maersk raised its financial guidance for the third time in three months as higher freight rates boosted the company’s profits. Also read: Red Sea risks escalate, Maersk adjusts surcharges On August 1, Maersk raised its forecast for earnings before interest, taxes, depreciation and amortization this year to between $9 billion and $11 billion, from a previous range of $7 billion to $9 billion. Analysts had previously expected an average of $8.76 billion, according to estimates compiled by Bloomberg. The Danish shipping giant had previously raised its annual profit forecast in May and June, citing the larger-than-expected impact of the Red Sea congestion on global supply chains. Maersk now expects the disruption to last until at least the end of 2024. According to Bloomberg research,…
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