Toymaker Hasbro on Monday posted a 12% drop in third quarter sales, and the maker of Monopoly cited the lost connection to the shuttered retailer Toys R Us as a reason, The Wall Street Journal Reports. With changes to UK-European customs once Brexit happens, Aston Martin is considering the costly move of flying some auto components into the UK instead of going through the shipping port of Dover, Reuters reports. Afternoon Coffee brings you the latest in procurement and supply chain news.
Cities on the short list for Amazon’s second headquarters are getting a fresh round of visits, and the online retail giant seems to be favoring an urban location, The Wall Street Journal reports. Apple CEO Tim Cook again disputed a Bloomberg report about a China microchip hack that also said the tech company had found the rogue chip in its servers and called for a retraction, CNBC reports on a Buzzfeed interview. Afternoon Coffee brings you the latest news about procurement and supply chains.
Uber says its ride-hailing technology is well-suited to the trucking industry, and it is renting trailers to start up a business called Powerloop, The Wall Street Journal reports. And after two hurricanes recently hit the Southeast, the fallout for supply chains was different for each storm, Supply Chain Dive reports. Afternoon Coffee brings you the latest in procurement and supply chain news.
In another move in the chess match with China, the Trump administration is moving ahead with its bid to set its own rates for packages coming into the U.S., The Wall Street Journal reports. The tactic requires that the U.S. withdraw from a 144-year-old international postal body that sets rates. Without the yogurt boom, milk suppliers are left with an overabundance, Bloomberg reports. Afternoon Coffee brings you the latest in procurement and supply chain news.
With Sears filing for Chapter 11 bankruptcy Monday and its suppliers seeking payments, the department store giant has plans to shore up its supply chain, The Wall Street Journal reported. And Republican Sen. Mitch McConnell, the Senate majority leader, said Tuesday that a vote to replace NAFTA won’t be held until next year, after the midterm elections next month, Bloomberg reported. Afternoon Coffee brings you the latest news about procurement and supply chains.
Sears filed for Chapter 11 bankruptcy protection from creditors Monday, keeping many of its stores open while it restructures, The Wall Street Journal reports. And CEO Eddie Lampert has stepped down. Defense contractors L3 and Harris announced a merger over the weekend, the Washington Business Journal reports. If the deal passes muster, the new company would create the sixth-largest aerospace and defense prime contractor, the Journal reports. Afternoon Coffee brings you the latest in procurement and supply chain news.
China shows a record trade surplus with the U.S. for September, and companies’ efforts to get their supplies before U.S. tariffs hit may be fueling the trade gap, Bloomberg reports. As Sears grapples with mounting debt and possibly filing for bankruptcy within days, analysts say the department store giant of yore didn’t do enough to succeed today, Adweek reports. Afternoon Coffee brings you the latest news about procurement and supply chains.
Sears appears to be on the brink of bankruptcy, and the troubled retailer is facing pressure from lenders to liquidate, The Wall Street Journal says. And the U.S. Postal Service has requested a rate increase for letters, postcards and parcels. If approved, the increase could start in late January. Afternoon Coffee brings you the latest in procurement and supply chain news.
Hurricane Michael is lashing the Florida Panhandle with tropical storm winds before the dangerous Category 4 hurricane makes landfall Wednesday afternoon, the Washington Post reported. Coupa Software said this week it has launched the latest updates to its Coupa BSM Platform, focusing on supplier risk management and compliance, efficiency, and ease of use in the business spend management area. Afternoon Coffee brings you the latest news in procurement and supply chain news.
Technology is a big disruptor, but so is the long-standing effort to cut out the middleman. The direct-to-consumer trend is shifting the supply chain in key ways and for an array of businesses — like direct-from-wineries, Supply Chain Dive reports. Shipping giant Maersk is investing in the startup Loadsmart, a freight-booking service for the trucking industry, The Wall Street Journal reported. Afternoon Coffee brings you the latest in procurement and supply chain news.
IBM announced Monday that its food supply blockchain is ready for businesses to join and help track products from the source to the retailer. The company has been testing the blockchain for 18 months and now plans to increase its use, a press release said. Hurricane Michael has formed in the Gulf of Mexico and is headed toward the Florida Panhandle. It could make landfall Wednesday afternoon. Florida's governor has issued a state of emergency for many counties. Afternoon Coffee brings you the latest in procurement and supply chain news.
Bloomberg Businessweek’s investigative report on a hardware hack from China has sent ripples across the supply chain community as companies and their managers consider the fallout — with the report saying U.S. officials described it as “the most significant supply chain attack” against American companies. The report said a tiny chip was added to an electronics panel in China before being sent to its buyer, a U.S. company that served bigger clients like Amazon, Apple and U.S. national security efforts. Afternoon Coffee brings you the latest in procurement and supply chain news.