Prices in trucking will begin to rally this quarter, while remaining vulnerable to fluctuations in the oil market. Trucking is one of the first modes of freight transportation to see prices gain traction due to the drop in oil prices. As expected, slight price declines came through in the second quarter of this year. Now the industry is poised to begin increasing prices once again on the basis of healthy demand and continued difficulty in finding qualified drivers.more ▸
Maersk Line CEO Soren Skou called for consolidation in the container-shipping industry, citing “extremely weak” demand growth amid steadily increasing capacity. The goods trade deficit in the U.K. hit £11.1 billion ($17 billion), and construction output fell 4.3%. Afternoon Coffee brings you the latest in procurement and supply chain news.more ▸
Even though my colleague David Gustin covers such topics in much greater detail on Trade Financing Matters, I find fascinating the early fronts that appear to be forming in the battle for lending and small business financing — beyond the traditional arms of banks, invoice discounting and card programs. The Wall Street Journal recently covered how Intuit’s QuickBooks and OnDeck are partnering to offer loans based on invoice information, receivables and other information contained within a company’s general ledger on the system.more ▸
Jobless claims have hit near a 42-year low, according to the latest data from the Labor Department. Claims hit 263,000 for the week ending Oct. 3, down 13,000. And, Americans spent more on eating out, groceries, entertainment and other goods thanks to the savings they saw at the gas pump this year. Afternoon Coffee brings you the latest in procurement and supply chain news.more ▸
SABMiller rejected Anheuser-Busch InBev’s new offer to buy the company, saying the offer “substantially undervalues SABMiller.” Anheuser had valued SABMiller at $104 billion. And, job creation remained at its 7-year high in September, according to the Gallup Job Creation Index, which registered +32 for the month. Afternoon Coffee brings you the latest in procurement and supply chain news.more ▸
Growth in the U.S. services sector slowed in September, driven largely by a softening retail market and weakening of the global economy, the Institute for Supply Management reported this week. ISM’s latest Report on Business showed the non-manufacturing index (NMI) registered 56.9% last month, down 2.1% from August. In a conference call with reporters on Monday, an ISM official pointed to contractions in the mining and retail industries, as well as economic activity both domestically and globally for the slowdown in the services sector.more ▸
Spend Matters believes a combination of market dynamics and management shifts within Xchanging — for which Capita and Apollo recently made offers — would make it an opportune time to consider placing the procurement assets in different hands in the coming months. Here's why.more ▸
The US trade deficit increased in August to $48.3 billion, a jump of $6.5 billion from July, the U.S. Department of Commerce reported today. And, US supply chain providers are preparing for an uptick in business thanks to the Trans-Pacific Partnership. Afternoon Coffee brings you the latest in procurement and supply chain news.more ▸
On Oct. 15 and 16, the New Jersey affiliate of the Institute of Supply Management will hold its seventh annual Women & Leadership Conference, a unique event focusing on women in the supply chain and procurement industry and featuring presentations by female corporate and procurement leaders. The conference will discuss the underrepresentation of women in senior leadership positions as well as feature presentations on topics such as salary negotiation and a panel discussion on professional and personal advancement.more ▸
Spend Matters welcomes this guest article by Rajiv Joarder from Mintec.
According to the National Retail Federation, Americans spend around $6.9 billion on Halloween decorations and costumes. The average person will spend around $74.34 just for this holiday alone. The good news for parents is that Halloween just might have gotten cheaper this year with plastic decorations, mostly made from polypropylene (PP), being manufactured and imported from China.
Afternoon Coffee: Agreement Reached in Trans-Pacific Trade, Port of Los Angeles Reduces Emissions by Record Amount
The 12 delegates who were part of the ongoing Trans-Pacific Partnership discussions reached a deal this weekend over international trade. The delegates from various countries, including the U.S., now must seek domestic support for the agreement. And, the Port of Los Angeles significantly cut emission from port activities, surpassing its goals for 2014 and setting new emission-reduction records. Afternoon Coffee brings you the latest in procurement and supply chain news.more ▸
Companies buying diamonds from the Central African Republic (CAR) are not doing sufficient due diligence to determine who specifically is benefiting from the purchases, according to a new report out last week from Amnesty International. The CAR’s largest traders have been buying diamonds worth several millions of dollars without determining if that money is going to armed groups responsible for the ongoing conflict in the country.more ▸