In 2015, ocean cargo rates for contracts on major East-West routes saw a sharp decline. As a result, carrier profits have been suffering. Contract rates have fallen because of lower fuel costs, more carrier competition, and surplus vessel capacity. Take a look at what this means for the transportation industry now and in the future.
In recent years, farmers have been looking for ways to increase production while using fewer resources and decreasing their environmental impact. For farmers, technology offers myriad solutions. Sensors can measure soil and water composition, drones can spread fertilizer, and GPS systems can direct robotic tractors to harvest crops. Farming technology is rapidly developing, and it…
More than 7 million Americans make up the domestic trucking industry. However, commercial shipping needs are growing quickly, and the industry continues to have a difficult time finding new drivers to replace the ones that retire. Numerous factors contribute to the shortage of truck drivers, but one of the biggest is the negative image of…
Whenever an outbreak of Listeria occurs or any other food safety issues arise, the U.S. government steps in to investigate and prevent further crisis. The government has always had an interest in food safety, but it has made significant changes to food safety protocol over the past couple of years. Take a look at what…
The Cuban trade embargo has been in effect since 1962, after Cuba nationalized several American-owned assets equaling over $1 billion. Though the two nations have had countless disagreements ever since, in mid-2015 Cuba agreed to allow U.S. embassies to reopen in its major cities. The relationship between the two countries has recently begun improving, which…
China has become the leading manufacturer of goods in the world, but economic changes in the country are causing a shift in thought. For instance, wages for Chinese workers have tripled over the course of the past decade. This is causing manufacturers to move some outsourcing to countries where worker wages are still low. As…
JDA Software Group is one of the leading providers of retail and supply chain planning solutions. The company serves more than 4,000 customers around the world. JDA does this by creating customized solutions for each customer to help control costs, optimize processes, and maximize revenue at every point in the supply chain. JDA prides itself…
Every year the World Bank loans between $15 billion and $20 billion to government contracts around the world. Contractors must go through a bid process to be considered for government contracts, but it lacks transparency and consistency. The World Bank intends to reform its procurement policies in order to cut down on fraud and unfair…
The healthcare industry faces numerous unique supply chain challenges. Hospitals and other medical facilities need the supplies they order in a timely manner because delays can mean the difference between life and death. For instance, if a hospital ER department does not have enough saline bags, a patient could die of dehydration. Healthcare supply chains…
Environmentalists have been pushing for widespread solar power use for years because it’s renewable and clean. Much of the resistance they encounter results from an unwillingingness to pay the high initial cost of setting up the solar power infrastructure. Luckily, the cost of solar power won’t be a problem forever. Analysts predict that solar power…