Manufacturing faced a subdued end in 2023, marked by economic contraction for the third consecutive month, as reported by the Institute for Supply Management’s Purchasing Managers’ Index (PMI), which registered 47.4% in December. This downturn was influenced by various factors, including reduced new orders, especially in sectors like computer and electronics products grappling with intricate…
Recent global manufacturing data presents a nuanced outlook, with China and Germany showcasing positive developments, while the UK grapples with challenges stemming from declining foreign demand. China’s Caixin manufacturing PMI for December surpassed expectations, registering 50.8, indicative of potential recovery. Fueled by increased new orders and enhanced sales, the sector achieved a seven-month peak in…
In a bid to enhance efficiency and reduce bureaucratic redundancies, a bipartisan effort is underway in Congress to pass the Transportation Security Screening Modernization Act. The legislation, initially introduced by Rep. Adam Smith (D-Wash) in the U.S. House, seeks to modernize the current system of background checks for supply chain workers, ensuring a more streamlined…
In a strategic move to fortify the resilience of Ohio’s food supply chain, the Ohio Department of Agriculture is set to allocate $12.6 million for projects supporting various facets of the state’s food system. This funding initiative aims to enhance coordination, processing, and distribution within the food supply chain. Applications for project proposals will be…
In response to the challenges faced during the COVID-19 pandemic, agricultural machinery companies worldwide are taking proactive measures to fortify their supply chains. The lessons learned from disruptions in parts and inventory availability have prompted manufacturers to diversify suppliers for key components and relocate certain manufacturing processes back to their home countries. The Agrievolution Alliance,…
The evolution into the digital age has ushered in unprecedented cyber threats targeting supply chain systems. Traditionally, success in the supply chain realm was measured solely through cost reductions and operational efficiencies. However, with the increasing interconnectivity, complexity, and global distribution of supply chain networks, the need for a more comprehensive approach to security has…
A recent report reveals that in 2023, more than 300 companies spanning various industries collectively invested over $160 billion to diversify their supply chains, resulting in the support of over 1.3 million jobs. The “Supplier Diversity Economic Impact Report – 2023,” published by Supplier.io, a diversity and ESG data provider, sheds light on the significant…
In a significant move, the U.S. Department of Commerce has announced the initiation of an industrial base survey slated to commence in January 2024. This survey marks a pivotal step in comprehensively analyzing the capabilities and challenges of the broader U.S. semiconductor supply chain and national defense industrial base. The primary objective is to establish…
The shipping industry is witnessing a notable shift towards the adoption of alternative fuels for cargo ships, reports the Baltic and International Maritime Council (BIMCO). Currently, 1% of ocean-going cargo ships are prepared to utilize alternative fuels, contributing to 2% of the international fleet’s deadweight capacity. Additionally, another 1% of ships and 4% of deadweight…
The Biden administration is actively considering the prospect of increasing tariffs on Chinese electric vehicles and other products to enhance the competitiveness of U.S. clean-energy goods, according to sources familiar with the matter. Discussions on whether to raise duties on specific Chinese exports have been ongoing among officials from the White House and various Cabinet…