Investment into increasing supply chain visibility will be the number one priority in the next 12 months to mitigate rising costs, according to a survey commissioned by BDO USA. Of the 100 US-based manufacturing company CFOs asked, 45 will increase visibility in order to improve their ability to manage inventory and demand. Behind this, 40 of the 100 CFOs surveyed said they would be expanding their distribution footprint and 37 would be looking for alternative suppliers in order to deal with increased risks of disruption. A major risk perceived by CFOs is climate change, with 44 citing higher ..read more

The need to know from Reuters’ global network of journalists US manufacturing output increases in March; February data revised higher Production at U.S. factories increased solidly in March as output at motor vehicle assembly plants and elsewhere rose, suggesting that manufacturing was turning the corner after being constrained by higher borrowing costs. US business inventories pick up in February U.S. business inventories rose in February amid strong gains at retailers and wholesalers, suggesting that inventory investment could contribute to economic growth in the first quarter. China's econ ..read more

The need to know from Reuters’ global network of journalists Global trade to recover steadily after rare fall in 2023, WTO says Global goods trade should rebound this year, but more slowly than previously expected, after only its third decline in 30 years in 2023, the World Trade Organization said on Wednesday. US will not accept Chinese imports decimating new industries, Yellen says U.S. Treasury Secretary Janet Yellen warned China on Monday that Washington will not accept new industries being decimated by Chinese imports, as she wrapped up four days of meetings to press her case for Beijing ..read more

The need to know from Reuters’ global network of journalists Baltimore shipping set to resume by end of April with full capacity by end of May The U.S. Army Corps of Engineers said Thursday it expects to open a new channel to the Port of Baltimore by the end of April, freeing up commercial shipping blocked by a collapsed bridge, and then restore port access to full capacity by the end of May. Trapped vessels start moving out of Baltimore after bridge collapse The Port of Baltimore opened a temporary channel on Monday, freeing some tugs and barges that had been trapped by last week's bridge co ..read more

The need to know from Reuters’ global network of journalists Baltimore bridge collapse to cause logistics headaches, not supply chain crisis The catastrophic bridge collapse that closed the Port of Baltimore to ship traffic on Tuesday is causing some logistics headaches, but is unlikely to trigger a major new U.S. supply chain crisis as competing East Coast ports are poised to handle more cargo, economists and logistics experts say. Companies react to Baltimore bridge collapse A major bridge collapsed on Tuesday in the U.S. port of Baltimore after being struck by a container ship, plunging ca ..read more

The impact of the 10,000- Twenty-foot Equivalent Unit (TEU) container ship Dali into the Francis Scott Key Bridge after a loss of power onboard the vessel has both closed the I-695 highway and the Port of Baltimore. Reopening the port is likely to be a tricky operation and so supply chains need to plan around this latest disruption in what is one of the US’ major ports, particularly in several specialised areas. In light of this incident, we cover the critical numbers supply chains need to know: Baltimore is within the top 20 ports in the US by weight of cargo moved and was the ninth biggest ..read more

The need to know from Reuters’ global network of journalists Somali pirates return, adding to global shipping crisis As a speed boat carrying more than a dozen Somali pirates bore down on their position in the western Indian Ocean, the crew of a Bangladeshi-owned bulk carrier sent out a distress signal and called an emergency hotline. India to prosecute 35 pirates who hijacked ship off Somalia, navy official says India will bring in and prosecute 35 Somali pirates its navy captured on a hijacked ship off Somalia, a navy official said, in a departure from its recent practice of rescuing vessel ..read more

The need to know from Reuters’ global network of journalists Container rates drop to unsustainable levels, Maersk CEO says The global container shipping market faces overcapacity in the coming years and the rates paid by customers have fallen to an unsustainable level, Maersk (MAERSKb.CO) CEO Vincent Clerc told the group's annual meeting of shareholders on Thursday. Hapag-Lloyd to seek cost cuts after net profit slump German container shipper Hapag-Lloyd (HLAG.DE) said on Thursday the global oversupply of container ships and a crisis in the Red Sea will force it to cut costs in 2024, adapting ..read more

The logistics robotics market is poised for exponential growth, with a potential surge of 5200% by 2044, as per insights from IDTechEx. The consultancy's projections indicate a robust double-digit Compound Annual Growth Rate (CAGR) over the next two decades, driving the annual market size for mobile robotics in logistics and delivery to nearly US$150 billion. Investment in mobile robotics has skyrocketed in recent years, with cumulative funding expanding by a staggering 261 times over from 2015 to 2022 according to IDTechEx estimates. This surge underscores the strong demand and rapid expansi ..read more

Teaser / Précis:  Our report shines a light on inspirational women and their achievements in the supply chain industry, detailing their career achievements and personal reflections on the need for inclusion and greater representation. The 20 trailblazers were selected from candidates nominated by the supply chain industry stakeholders as well as our Reuters Events community. External URL:  https://1.reutersevents.com/LP=36662 Channels:  Supply Chain Logistics CEO Focus Freight CSCO Focus Logistics 3PL Report Image:  Tags:  supply chain logistics leadersh ..read more