Supply Chain

Atlanta-based global freight transportation and logistics services provider UPS unveiled details regarding its strategic growth and productivity initiatives and its three-year financial targets at its Investor Day. Company officials stated that through its ongoing “Customer First, People Led, Innovation Driven” strategy, UPS is focused on setting up to the company to be the “premium small package provider and logistics partner in the world.”

NRF is pegging 2024 retail sales to increase between 2.5%-to-3.5% to between $5.23 trillion and $5.28 trillion. Should this forecast come to fruition, NRF said that it would top 2023 retail sales, which rose 3.6% to $5.1 trillion.

To meet demand and reduce its shipping time, Titan Brands has adopted a suite of technology solutions from Korber Supply Chain.

The survey’s findings were based on feedback from more than 1,400 North American shippers across various sectors and was conducted late last year. Topics covered in the survey included measuring the use of and interest in various supply chain services compared to last year’s survey, if businesses are predicting an increase or decrease in shipments in 2024, how important a carrier’s sustainability program is to a shippers’ decision making, and identifying the biggest challenge with international shipments in 2024.

Earlier this week, a bipartisan, supply chain-focused piece of legislation was unanimously passed through the House Committee on Energy and Commerce by a 44-0 vote. The legislation, entitled the “Promoting Resilient Supply Chains Act,” was introduced by Representatives Lisa Blunt Rochester (D-DE) and Larry Bucshon (R-IN).

Many businesses expect operational expenses to continue rising amid a muddy economic future.

Following the Biden administration’s release of the White House Council on Supply Chain Resilience last week, which is comprised of nearly 30 actions focused on strengthening U.S. supply chains, there has been a fair amount of follow-up and some analysis from industry stakeholders on the effort’s potential merits and benefits, at a time when the supply chain continues to receive far more attention post-pandemic than pre-pandemic, to be sure.

Third Annual State of Procurement survey finds majority say spending increases are planned.

Following a late-September announcement in which it announced it acquired Long Beach, Calif.-based global time-critical logistics services provider MNX Global Logistics, Atlanta-based global freight transportation and logistics service provider UPS said today, that effective November 2, the deal is now official.

Professional services company acquiring in separate deals procurement specialist The Shelby Group, as well as OnProcess.

DHL observed that in recent years, SMEs have been up against a whole host of challenges, including—pandemic-driven global supply chain disruptions and labor shortages; inflation; and shifts in consumer demand—all things that have forced U.S.-based SMEs “to adapt to and navigate the changing landscape throughout the year and especially during the holidays.”

The most recent edition of the Council of Supply Chain Management Professionals (CSCMP) State of Logistics (SoL) report observed that the cost of United States business logistics accounted for 9.1% of United States GDP in 2022. That indicates that as GDP headed down, logistics costs saw gains, and it served as a key theme of a session at last week’s CSCMP EDGE conference in Orlando.

In a fireside chat with Mark Baum, Chief Collaboration & Commercial Officer, for FMI-The Food Industry Association, Target Chief Supply Chain and Logistics Officer Gretchen McCarthy looked back at Target’s $7 billion investment to manage its in-store experience and optimize related assets for the benefit of its customers, whom it refers to as guests, and also leverage it as fulfillment levels.

The research paper, entitled “Future Proofing the Global Supply Chain:  How AI, Automation and Other Technologies Are Impacting Efficiency,” noted that logistics real estate investments outpaced revenue growth by 57% over the past decade despite advancements in automation and data analytics, which it labeled “the supply chain productivity paradox.”

An extended United Auto Workers strike against the Big 3 automakers could have significant ripple effects in the automotive supply chain, hampering smaller manufacturers and related suppliers.