Friday, October 23, 2020 · David Sokoloff and Gaohui Zhang
Shippers regularly establish contracts with carriers to reduce their exposure to the volatility of the trucking market. However, the trucking industry is unique in the sense that contracts are often non-binding.
Geopolitical considerations are also a factor in considering Arctic trade routes as both Russia and China have indicated their ambitious plans to expand their footholds in the region.
To remain competitive in an ever-changing environment, chief supply chain officers (CSCOS) must apply advanced strategies to develop and train supply chain talent, according to Gartner, Inc.
“The sharp rebound in global trade volume has been one of the bright spots in an unusually cloudy outlook," says Nariman Behravesh, chief economist, IHS Markit. Nonetheless, he has concerns about fresh challenges ahead.
Despite its disruptive impact on consumer behavior and retail spending throughout the year, COVID-19 is not cancelling the holiday shopping season, although it is changing how and where consumers will shop.
While reverse logistics is more important than ever, little is known about how companies define their approach to managing outsourced operations. This bridges that gap
Commerce reported that retail trade sales saw a 1.9% gain, from August to September, and rose 8.2% annually. And NRF pointed to September retail sales, which were paced by apparel, continuing a V-shaped recovery from the pandemic, with sales growing for the fourth consecutive…
Foley reports show a shift away from China and just-in-time manufacturing models – and toward stability, resilience and adoption of new innovations – among other key findings.
Historically the supply chain has been the engine room of the company, driving the business forward but largely out of sight. All of this has changed with the COVID-19 outbreak.
In a joint broadcast presented by Port of Los Angeles today, Executive Director Gene Seroka discussed the port’s best September as well as the best single three-month quarter in the port’s 114-year history.
Coming in at 2,711,435 TEU (Twenty-Foot Equivalent Units), September was up 11.1% annually. But on a year-to-date basis, through September 30, shipments are down 3.9% annually, to 20,874,996 TEU. This marked the second time ever a monthly tally topped 2.70 million TEU.
It is too early in the Q4 bid season to reach exact conclusions about 2021 rate changes. However, industry analysts say the signs are obvious in the spot market for ocean transportation that carriers have gained pricing power and are managing ship capacity to their advantage.
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