The Friday Report July 6, 2018Quick wrap up of a few hot topic newsworthy stories in the supply chain logistics industry
Artificial Intelligence Invades the Food and Beverage Industry
Food and beverage companies are turning to artificial intelligence to improve fast-moving consumer goods (FMCG). Using artificial intelligence and machine learning, food and beverage companies are gaining insight into ways that FMCG can be produced, packaged, warehoused, distributed and consumed. With the huge amount of data that is available for analysis today, supply chain businesses are obtaining a more thorough understanding of what consumers want and expect.
Industry surveys reveal that consumer tastes have changed, sometimes dramatically. Gone is the preference for “household name” brands that seemed to ensure trust in the home.
Online Sales Fuels Growth of Modern Warehouses for E-Commerce
On average, U.S. warehouses are 34 years old, built to handle the rigors of another type of operation. Today’s fast paced online retail industry requires immediate, fast fulfillment and older warehouses are struggling to handle the pace and volume of operations. Antiquated warehouses tend to have uneven flooring, low ceilings and lack the expansive space needed. The way industrial space is used has changed and warehouses need to be outfitted to be used as strategic weapons.
Use of Required Electronic Logging Devices (ELD) Causes Bump in Trucking Prices
Between the U.S. trucking shortage and the new regulation requiring large trucks to use electronic logging devices to record truck driver hours, freight costs have escalated and are likely to continue to increase. With the truck driver shortage, increased demand and recent weather challenges, spot rates have increased 28% this year through March 23rd. Longer term contract rates are anticipated to increase 12% in 2018, the highest in a decade.
Uptick in Data Breaches: Manufacturers Brave Cybersecurity Threats According to the 2019 Manufacturing and Distribution Report, half of the companies surveyed reported that they had experienced a cyberattack or data breach within the past twelve months, with 11...
Why Has Serialization Become Necessary in the Pharma/Life Sciences Industry? Helps to eradicate counterfeit prescription drugs and protect consumers Serialization increases the efficiency of the pharma supply chain Improves inventory visibility Enables collection of...
Bed Bath & Beyond in Free Fall The pressures of modern retailing have taken their toll on major retailer Bed Bath & Beyond. The industry giant reported that sales decreased 6.6% during the last quarter at stores open at least one year. Q1 2019 also saw...