Afternoon Coffee: Auto Companies Prepare for Production Losses from Hurricane Florence, Aquiire Awarded Fourth E-Procurement Patent Stock

Multiple automotive companies are bracing for production stops ahead of Hurricane Florence, FreightWaves reports. Manufacturers including LMC Automotive, Mercedes-Benz and Volvo all closed their doors in anticipation of the Category 4 storm, which could prove particularly disruptive to the automotive supply chain, as numerous automotive suppliers lie in Florence’s path.

Aquiire Patent  

Aquiire, a provider of e-procurement software, announced Wednesday it had been awarded a fourth patent for “innovations in electronic procurement” by the U.S. Patent and Trademark Office, according to a press release. The award cites new “methods and systems to maintain, check and audit contract and historical pricing in electronic procurement.”

“This latest award expands our growing portfolio of patents and reaffirms our commitment to aggressively develop innovative solutions to meet our customers challenges today and in the future," said Aquiire CEO Mike Palackdharry. "To have our inventions recognized by the U.S. Patent Office is a tremendous source of pride for the entire Aquiire team."

See how Aquiire compares to other e-procurement software providers: Check out the Q3 2018 E-Procurement SolutionMap

Mondelez’s Brexit Planning

Risks of supply chain disruptions in case of a “no-deal” Brexit are causing Mondelez to stockpile ingredients like chocolates and biscuits to ride out a worst-case scenario, the Guardian reports. Because the U.K. is “not self-sufficient in terms of food ingredients,” Mondelez is putting in place contingency plans for a “hard Brexit,” which could also stick consumers higher prices and fewer choices for goods.

Available U.S. Jobs 

And finally, an economic update: The U.S. job pool continued to expand at a strong clip in July, with the number of available jobs exceeding the number of job seekers by more than 650,000 in July, The Wall Street Journal reports. The data underscore increasing the labor market’s increasing tightness, which could both encourage currently employed workers to consider quitting and put additional pressure on previously lackluster wage growth.

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