Afternoon Coffee: Post-Brexit Economy Upends Conventional Economic Wisdom, APICS to Expand Supply Chain Education Program

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When a country’s currency becomes weaker, its exports become more competitive or profitable globally, boosting domestic production and employment. That’s what most economics textbooks teach, and what practitioners of the dismal science expected when Brexit caused the pound to lose 15% of its value against the dollar and 13% against the euro.

But as the Wall Street Journal details, that’s not what happened. Since British companies have come to rely on components from overseas for their products, rising import volumes and higher purchasing costs for raw materials and parts have erased much of the advantage British manufacturers may have gained.

APICS Invests in Education

Supply chain professional association APICS announced Tuesday it is expanding its Supply Chain STEM Educational Outreach Program. The investment will extend the reach of the program to more than 100,000 students by 2020, advancing APICS’s mission to combat the global shortage of supply chain talent, the company said in a press release.

To learn more about APICS’s education initiative, check out Sydney Lazarus’ recent two-part series on the program (Part 1 and Part 2).

Fed News

The U.S. Federal Reserve is expected to announce Wednesday that it plans to gradually reduce its $4.5 trillion portfolio of Treasuries and mortgage-backed securities, the New York Times reports. That news will likely be accompanied by an expected increase of the central bank’s benchmark interest rate by a quarter point, to a range of 1%–1.25%.

National Forklift Safety Day 

And finally, today is a day to reflect on workplace safety: June 13 is the fourth annual National Forklift Safety Day. OSHA estimates nearly 35,000 serious injuries happen each year as a result of forklift misuse.

To learn more about best practices for sourcing forklifts, check out this helpful guide from guest contributor GEP.

And if you or someone you care about is on the ground operating a forklift, be sure to watch this classic video on forklift safety:

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