The United National Climate Change Conference COP26 was held in November last year that saw the unveiling of a new platform with the World Economic Forum that aims to accelerate the adoption of innovative technologies in steel, trucking, shipping, aviation, and other manufacturing sectors. With COP26, FMC or the First Movers Coalition of 34 members representing a market value of approximately $6 trillion was formed. The FMC commits to operations that thrive on products like low-carbon cement and steel, zero-emissions heavy-duty trucks, sustainable aviation fuels, and direct air capture to drive the demand for these products up and eventually bring down the costs. The companies that have vouched to support such sustainable practices include Apple, Amazon, A.P. Moller-Maersk, Boeing, Bank of America, DP DHL, Delta Airlines, Engie, Fortescue, Holcim, Trane Technologies, and Scania. Learn more about how these companies commit to supporting sustainable business practices.
In March, due to the stringent COVID restrictions in China, Hong Kong’s export volumes dropped significantly, even more than in January 2020. The Census and Statistics Department stated that exports fell by 8.9% last month compared to a year earlier. Economists had expected an expansion of 2.5%, but imports dropped 6% last month, the most since June 2020. The drop comes amid moderating external demand and epidemic-induced disruptions to cross-boundary cargo flow between the mainland and Hong Kong. Learn More.
Europe supports Ukraine’s war-torn economy by eliminating tariffs and trade quotas on critical Ukrainian shipments like steel. The European Union has decided to remove all remaining duties and quota requirements on Ukrainian exports. This initiative could be a significant measure to bolster the Ukrainian economy. The EU is Ukraine’s largest trading partner accounting for approximately 24 billion euros ($25.5 billion) worth of exports before Russia’s invasion. Learn More.
The turnover of Shanghai port rose by 8.14 percent in Q1 compared to a year earlier to 12.26 million twenty-foot equivalent units (TEUs). In terms of cargo tonnage, the Port of Shanghai is one of the largest ports. Despite reporting a stable increase in turnover during the first quarter of 2022, the port has been witnessing significant disruptions since March, as a wave of COVID-19 engulfed the city. Data from the Shanghai Municipal Transportation Commission showed that in April, the average daily container throughput is expected to be equivalent to 100,000 TEUs, about 75 percent of the previous levels. Analysts state that the port's capacity has been affected by the congestion on roads rather than the port itself. Also, the decrease in efficiency at the Shanghai Port is due to the lack of truck drivers. The Chinese officials and companies have taken various measures to tackle the logistics problems, including issuing nationally unified vehicle passes and reopening highway toll stations and services centers to ensure seamless transportation. Learn More.
At the SemiconIndia Conference 2022 at Bengaluru, the Prime Minister of India, Mr. Narendra Modi, addressed that establishing India as a critical partner in the global supply chain was a significant and collective responsibility of the nation. India is witnessing a substantial increase in the setting up of design, research and development centers from almost all of the 25 global semiconductor design companies. These initiatives with the Union government can be a gamechanger in transforming the Indian manufacturing and supply chain industry. Learn More.
IoT has numerous benefits in the supply chain and with advancement, businesses are reaping the benefits of such innovative technologies. Hapag Lloyd has recently stated that it will digitalize its container fleet with IoT technology and analytics developed by TradeTech company Nexxiot. This initiative aims to make container transportation resilient and enhance its visibility across the supply chain With IoT-based sensor technology the liner will be able to monitor the shipping containers and analyze the location, movements, and status in real-time. Hapag-Lloyd will be the pioneer to achieve advanced visibility into the supply chain leading to early detection of delays and proactive responses while informing customers in case of a disruption. Learn More.
Amazon has founded the Amazon Industrial Innovation Fund (AIIF), a venture investment program worth $1 billion that will support supply chain, fulfillment, and logistics innovation with a specific focus on automation and workplace robotics. With changing consumer behavior of increased e-commerce purchases and market dynamics, this initiative is a significant step forward to cater to changing expectations of delivery and shopping experiences. Amazon’s new fund looks to develop solutions that either improve these aspects, or the experience of employees working in warehousing and logistics. Learn More.
Apple reported its second-quarter earnings and the company beat analysts’ expectations on both top and bottom lines. Despite continuing supply chain bottlenecks, the company has recorded outstanding revenue, leaving its shares up by 1%. The Revenue recorded was $97.3 billion versus $93.98 billion expected. Learn More.
The Chinese lockdowns have impacted business across industries. One of them is Microsoft, which has warned that China’s zero-COVID policies can translate to new PC supply-chain hiccups. More trouble is brewing in the electronics supply chain with the recent Shanghai lockdown. While Microsoft has been taking a conservative approach to the ongoing lockdowns in China, which threaten to extend instabilities within an already constrained PC supply chain, the company executives are alarmed that these new shutdowns will significantly affect PC and console sales. Read More.
SAP Sapphire is round the corner, starting May 10th experience the event in person or attend it virtually. Join engaging discussions on the SAP vision and strategy and learn ways to make your business more sustainable. Learn more about the multiple events on varied trends and take back tips for boosting your business with SAP solutions.
To register and know more about the events, click here.
SAP announced the SAP Business Journeys portfolio. The business and technology events that shape tomorrow's world are being planned today. The SAP Technology Package combines expert insight with a clearly defined scope, timeline and cost to help businesses prepare for these compelling changes. With the latest technology, this package offers a comprehensive solution that addresses customers’ compelling business and cloud events. The SAP Business Journeys solution portfolio will cater to challenges faced in growing business, making processes more sustainable or innovative for a competitive edge. Learn More.
Sleek Technology has hired Michael Paul as the new Vice President of Sales. With an extensive experience of 30 years in supply chain sales and operations, he will lead an experienced team to grow new SaaS customers and expand their base. Read More.
BMW has selected HERE Technologies to power its Connected navigation services (CNS) available across multiple models. The multi-year agreement will enable BMW drivers with real-time traffic information powered by this innovative partnership in 70 countries. Read More.
Further, in another press release, HERE Technologies announced that its latest predictive routing capabilities are powering the innovative Learning Navigation feature of BMW Maps as part of the BMW Operating System 8. The HERE fleet, equipped with a new, high-tech navigation system, can learn how you drive and personalize your ride. The functionality actively monitors traffic conditions along regularly taken routes, so it automatically offers alternative paths or departure times. Read More.
FourKites recently has met the standards set by the International Organization for Standardization (ISO) for cloud service security and data privacy. This achievement represents Fourkite’s ongoing pursuit of stringent security measures in the industry, establishing them as an industry leader. Learn More.