Afternoon Coffee: SCM World Opens 2018 Award Entries, Apple to Create $1 Billion Fund for US Manufacturing

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SCM World announced Thursday it had opened entries for its 2018 Power of the Profession Awards, according to a press release.

A panel of judges, which will include C-level executives from companies including Burberry, Dyson, Microsoft, Nike, Intel and more, will be looking for ground-breaking programs in two categories: Talent Breakthrough and Supply Chain Breakthrough,” the press release stated.

Apple Invests in US Manufacturing

Apple announced Wednesday it will create a $1 billion fund to invest in advanced manufacturing in the U.S., the New York Times reports. Apple CEO Tim Cook framed the fund as a “ripple in the pond” that can inspire other companies in the manufacturing ecosystem to invest in the U.S., as well.

Bosch Divests

Bosch said Wednesday it had sold its subsidiary that makes starter motors and generators, IndustryWeek reports. Industry sources estimated that Zhengzhou Coal Mining Machinery Group Co. and Hong Kong-based China Renaissance Capital Investment paid more than $550 million for the asset.

Productivity Report

And finally, an economic update: the productivity of U.S. workers fell at annual rate of 0.6% in the first quarter, according to the Wall Street Journal. Productivity has remained a dark cloud over the American economy, as it has stayed stubbornly low despite other promising signals such as rising inflation.

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