Plans were revealed to reduce the production of electric pickup trucks due to a decrease in demand for electric vehicles (EVs). The decision involves scaling back production at a Michigan-based Electric Vehicle Center to just one shift, effective April 1, 2024. The intention to temporarily cut one of the three shifts at the plant was…
Chile, a major player in the lithium market, is attracting attention from South Korean battery manufacturers looking to establish processing plants in the country, according to Karla Flores, the executive director of InvestChile, Chile’s foreign investment promotion body. The Korean companies, including Posco Holdings Inc., SK Group, and LG Corp., are interested in assisting Chile…
In a recent development, German companies are grappling with the intensified provisions of the country’s Supply Chain Act, implemented at the start of the year. The updated legislation now requires companies with a minimum of 1,000 employees to adhere to stricter human rights and environmental due diligence obligations, a significant reduction from the previous threshold…
In a recent survey, findings reveal that nearly half of the companies in the healthcare supply chain sector (46%) are utilizing artificial intelligence (AI) to proactively identify and address potential disruptions in their supply chains. Published on January 16 in the “Trade in Transition 2024” report by the business intelligence think tank Economist Impact, the…
In a forward-thinking initiative, Illinois has joined hands in a collaborative effort to fortify the resilience of its food supply chain. The newly launched Resilient Food Systems Infrastructure program, developed in partnership with the U.S. Department of Agriculture, is set to offer state grants for projects aimed at enhancing the robustness of Illinois’ food supply…
In a transformative development, the International Centre for Trade Transparency and Monitoring brings attention to the escalating investments in Supply Chain Control Towers (SCCTs), set to exceed a significant $10 billion by 2025, according to ABI Research. The surge in adoption is evident across diverse industries, with manufacturers, logistics service providers (LSPs), and retailers taking…
In a recent exploration of the evolving landscape of supply chain applications, the International Centre for Trade Transparency and Monitoring sheds light on the pivotal role played by Artificial Intelligence (AI) and Machine Learning (ML) in boosting business resilience. The story unfolds during a chance encounter with a local kite manufacturer, unveiling the potential of…
In a significant development, recent data unveils a notable shift in China’s export destinations, with Southeast Asia surpassing the United States as the primary recipient of Chinese exports for the first time last year. These figures, released on Friday, underscore the ongoing recalibration of global trade dynamics amid the evolving economic relationship between Washington and…
In a significant development, the latest analysis of the Logistics Managers Index indicates remarkable stability in the global supply chain, nearly four years after the COVID-19 pandemic disrupted it. The logistics industry is displaying signs of robustness, as highlighted by Arizona State University W.P. Carey professor Dale Rogers during a recent discussion on PBS’ “Arizona…
In a testament to the flourishing state of China’s e-commerce logistics sector, the e-commerce logistics index surged by 4.2 points year on year in 2023, indicating the steady expansion of the industry, as reported by the China Federation of Logistics and Purchasing. The annual average of the index reached an impressive 110.1 points in the…