Afternoon Coffee: Renault SA Considers Higher Prices on Car Imports to Britain, Wal-Mart Competes with Amazon 2-Day Shipping
French carmaker Renault SA may raise prices on cars it exports to Britain as a result of the Brexit vote and the falling pound. The British pound has fallen more than 10% to the dollar, causing companies impacted by fluctuations in Britain's currency to make new plans for business. And, Wal-Mart is offering a 30-day trial of its two-day shipping service, ShippingPass. Afternoon Coffee brings you the latest in procurement and supply chain news.more ▸
Ride sharing services like Uber and Lyft continue to gain popularity among corporate business travelers, according to recent research. The latest SpendSmart report from travel and expense management software provider Certify showed Uber and Lyft rides accounted for 46% of total ground transportation among business travelers in the first quarter of 2016. That’s up 4% from the fourth quarter of 2015.more ▸
U.S. gross domestic product increased 1.1% during the first quarter of 2016, thanks to a rise in personal consumption expenditures, residential fixed income, state and local government spending and exports, according to the latest data from the Bureau of Economic Analysis. Though the GDP growth is higher than the 0.8% previously estimated, it is down from 2015 Q4 GDP growth of 1.4%. And, the Commerce Department also reported this week the U.S. trade gap grew in May by a seasonally adjusted $60.59 billion. Afternoon Coffee brings you the latest in procurement and supply chain news.more ▸
A majority of manufacturing sourcing professionals expect to increase or maintain their supply base this year, with buyers looking to source goods from new areas around the world. Nearly 40% of manufacturing buyers surveyed for the latest MFGWatch 2016 report expect to grow their supply base in 2016. Thirty-seven percent said they will maintain their current supply base. The MFGWatch report, which identifies trends and issues in the U.S. manufacturing industry, showed manufacturers are generally optimistic about the year ahead and expect their firms to grow in 2016.more ▸
Spend Matters welcomes this guest post from David Galbicsek, of Mintec.
The price premium of U.S. rice has been hurting exports in recent years. Abundant global stocks and smaller domestic supplies caused by adverse weather have both played against the U.S.
After a weekend of political turmoil in both the U.K. and for European Union leaders, focus shifted Monday back to the economy and business impact of the Brexit vote. As procurement and supply chain professionals start to assess their situations and consider the short- and long-term consequences of the decision, our sister site MetalMiner has released its preliminary analysis on where metal prices could head, what the future of British steel looks like and how the backlash against immigration could affect construction and metals production.more ▸
Growth in the U.S. services sector remained unchanged from May, according to Markit’s Flash U.S. Services Purchasing Managers’ Business Activity Index, which came in just above 50. The subdued growth in June brought the average index reading for the second quarter of the year to 51.8, just slightly higher than the first quarter’s reading. And, the expanded Panama Canal opened Sunday, June 26. Afternoon Coffee brings you the latest in procurement and supply chain news.more ▸
The U.K.’s decision to leave the E.U. roiled markets Friday, pummeling the pound and sending commodities linked to economic growth into a slump. As the dust clears and businesses start to consider the long, uncertain road ahead, Spend Matters has gathered its live coverage from contributors in England to explain the top six implications for procurement and supply chain organizations. Stay tuned throughout the week for expert analysis on the impact to direct materials purchasing, sourcing and supplier management considerations and much more.more ▸
Greetings from a slightly stunned U.K., which Friday morning felt like a guest waking up with one shoe missing, a hangover and a vague sense that something bad happened at the party last night. Something very bad. Procurement folk will be scrambling already to work out what exactly the U.K. voting to leave the E.U. means, and the whole Spend Matters team will have more analysis to come.more ▸
The Flash U.S. Manufacturing Purchasing Managers’ Index from Markit came in at 51.4 for June, the highest level in three months for production growth in the manufacturing sector. Higher output levels and a rise in new orders and employment contributed to the growth. And, Britain votes today on whether or not to leave the European Union, a decision that could impact supply chains around the globe. Afternoon Coffee brings you the latest in procurement and supply chain news.more ▸
Lystable, a provider of a technology solutions that allows enterprises to manage their independent workforce and services suppliers, has secured an $11 million investment in a round led by Peter Thiel's Valar Ventures, Goldcrest Capital and Spring Partners. The funds will be used to accelerate market entry and expansion in the U.S. and ongoing execution of the company’s business and product strategy.more ▸
The Federal Aviation Administration released rules for the use of commercial drones. The rules take effect in late August and provide safety regulations that are aimed at minimizing the risks drones pose for other aircraft and people on the ground, while still promoting innovation and job growth. And, Tesla announced it has offered to acquire solar energy company SolarCity, which Tesla estimates is worth about $2.6 billion to $2.8 billion. Afternoon Coffee brings you the latest in procurement and supply chain news.more ▸