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Below, we dive into their key takeaways and explore five practical ways to make your logistics data actionable, with insights grounded in industry trends and high-authority sources. university, presented at an FNL freight forwarder event, which found that 80% of the data collected in procurement events goes unused.
Koganti urged the procurement audience to look for whats referred to as “foresight function” in planning tools, which is capable of enhancing data analysis, scenario generation and trend identification , allowing for more informed and proactive decision-making, albeit with human oversight.
Tesco and Walmart have announced procurement policies aimed at reducing carbon emissions and promoting sustainability throughout their extended supply chains. AI can integrate with procurement platforms, utility meters, logistics trackers and internet of things sensors to gather real-time data. Retailers are following suit.
Haifa port, which was privatized in 2022, is owned 70% by Indias Adani Ports while the remaining 30% is held by Israels Gadot Group. According to the New York Times, Iran sent a barrage of missiles into Israel on June 20 that struck in several places, including Haifa, where two people were severely injured.
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The latest escalation of violence between Israel and Iran had raised fears over a possible closure of the Strait of Hormuz, a critical export channel. While such a move isn’t likely at this point, “we can’t take for granted just how concentrated some of these production and supply chains are,” Taylor said in an interview. “For
Report authors indicated that the October survey data indicated pointed to European manufacturers again trimming their materials procurement activity levels. Added headwinds have been backdropped by major hostilities involving Russia and Ukraine , along with Israel and two terrorist groups. in October, up from the 12-month low 40.6
Gulf shipping costs drop as Israel-Iran ceasefire holds Shipping costs for the Gulf have fallen in the past two days after a ceasefire was reached between Israel and Iran, although rates could rebound if tensions increase, shipping and insurance industry sources said on Thursday.
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Where is the metric for determining the sources and uses of cash from three perspectives - operational, investment and financial? But back then we had plenty to do working on accounting systems, procurement, warehouse inventory control, retail store replenishment and labor planning - after all this was the dawn of the retail supply chain.
In any case, the reduction in US sourcing from China for the last few weeks will start to be felt soon in fewer May container ship arrivals and lower import volumes. The pause is also raising concerns over what will happen if US tariffs on China are reduced and volumes quickly rebound.
Tanker earnings already soared by almost 90% since Israel first started conducting airstrikes on June 13. and Israel, and a low risk for all other ships. Athens’s warning is the latest sign of pressure on shipping markets as attacks on Iran escalate. linked vessels as a result of the strikes.
The continuing hostilities involving Russia and Ukraine, along with Israel and two known terrorist groups have heightened the geo-political threat landscape. Nationalist and legislative policies tied directly to industry supply chain sourcing have continued during these past two years, especially involving the United States and China.
The militant group started targeting ships off the Yemeni coast in November 2023 in what it said was a response to Israel’s war in Gaza. or Israel or those that have been targeted by the Houthis previously now face higher costs, Baker said. Ships with associations to the U.S.,
SupplyChainBrain Gartner: Iran-Israel Conflict a 'Stress Test' for Middle East Supply Chains More from this author Subscribe to our Daily Newsletter! Timely, incisive articles delivered directly to your inbox.
Israel has also been attacking Yemen’s Houthi rebel group, which in turn has been menacing shipping in the Red Sea. There’s been a steady backdrop of threats to vessels over recent years. and Iran are continuing talks about Tehran’s nuclear program, the future of which remains uncertain.
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Starting on June 30, the government will also begin to limit federal procurement of steel and aluminum to domestic suppliers. "As According to a June 19 release, Canada will adjust its counter-tariffs on U.S. As Canada negotiates a new economic and security partnership with the U.S.,
For manufacturing teams challenged to meet aggressive cost targets while preserving reliability, sourcing partners that combine quality with sharp, transparent pricing are critical. trimming procurement load and freight cost. headquarters with Asia-based volume production — giving buyers a dual-sourcing model. RSP combines U.S.
18th, 2023, Source: Marinetraffic Since mid-November multiple ships have been attacked in the Red Sea by Houthi forces in Yemen. By mid-December the Houthis expanded their threat to include all Israel-bound – not just Israeli-owned – vessels, and attacked a tanker it claimed was bound for Israel on Tuesday.
Chipotle Mexican Grill says its goal to source and sell chicken that’s certified as humanely raised has been delayed because its suppliers weren’t able to make the necessary changes without disrupting supply. At the same time, the number of suppliers in China that received procurement bids declined by 9 percent in 2021.
In 2023—if it wasn’t already—geopolitics became top of mind for every procurement professional. With the ongoing war between Russia and Ukraine, the Israel-Hamas War, and the crisis in the Red Sea, the shockwaves these conflicts sent throughout their nations and the world have been felt everywhere—especially in the supply chain.
Across the geo-political landscape, the hostilities involving Russia and Ukraine continued through out the year, and in October, a sudden attack by the Hamas terrorist group on Israel has heighted Middle East tensions or threats of a wider conflict. percent that occurred in 2022.
Thank you for trusting Freightos and WebCargo technology for your own rate management, pricing and quoting needs, for your procurement from carriers, and thanks to those who chose freightos.com as a marketing channel for the critical logistics services that you offer. Hagag Towers, North Tower, Floor 24, Haarba 28, Tel Aviv, Israel.
Expertise: Sourcing, Supply Chain Analysis, Logistics & Transportation, Logistics Management Consulting, Freight (Maritime, Land, or Air), Logistics Technology Solutions. He can lead your company through the complex procuretech industry because of his specialization on procurement technology. Connect Now!
Free Trade Agreements (FTAs) and Preferential Trade Agreements (PTAs) are designed to boost economic growth through trade by opening markets by way of progressive removal of customs duties, eliminating or reducing trade barriers and tariffs, lifting restrictions on services and even through public procurement. Holy See (Vatican City State).
Source: S&P Global Intelligence and compiled by The Ferrari Consulting and Research Group 2024 Select Regional and Country Highlights Eurozone Manufacturing Contraction Continues The HCOB Eurozone Manufacturing PMI® report for September was headlined with euro area manufacturing activity falling at its steepest pace thus far in 2024.
These attacks are believed to be linked to the ongoing Israel and Hamas conflict. Throughout this week, global shipping has reportedly grinded to a halt as a result of incidents of terrorist attacks on ships, idling both ocean container vessels and oil tankers. Earlier this week, the U.S.
“They have multi-sourced key commodities or strategic components to reduce their reliance on any one supplier, and they had considered inventory strategy to buffer against supply chain disruption.” Also, globalization presents another hydra-headed challenge for your procurement network.
The chemical’s industry is no different, as its value chain—from raw material sourcing and shipping to production—has been impacted by disruptions and ripple effects due to the COVID pandemic. In Israel [an idea] we borrowed from the army is to validate quick decisions. So this year, it’s really tough for us.
One relates to the rising geo-political tensions across the Middle East region that could lead to further hostilities involving multiple nations beyond Israel and Hamas or Russia and Ukraine. There is further two looming unknowns that could dampen activity in the coming months.
As we pen these risk highlights, there are growing worldwide concerns regarding the sudden, troubling and unexpected breakout of hostilities among the State of Israel and the Hamas terrorist group controlling the Gaza Strip. Risks of wider Middle East tensions or conflicts can add to more volatile oil and commodity markets.
Since our original commentary indicating that the Houthis terrorist attacks on ships, believed to be linked to the ongoing Israel and Hamas conflict, the situation remains very active and troubling, but confusing at the same time.
”[3] Gaming the World’s Complexity The “zone of uncertainty” touches every part of the global economy and global supply chain — from procurement to manufacturing to logistics to sales. Starbucks said that it faced boycotts in the Middle East and elsewhere because of its perceived support for Israel.”
In any case, the reduction in US sourcing from China for the last few weeks will start to be felt soon in fewer May container ship arrivals and lower import volumes. The pause is also raising concerns over what will happen if US tariffs on China are reduced and volumes quickly rebound.
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