Global Trade
US SANCTIONS 24 CHINESE COMPANIES FOR SOUTH CHINA SEA ISLAND BUILDING
On Wednesday, the US government added 24 Chinese companies to a list that prohibits them from purchasing US products. The move comes after the administration cited their role in the construction of artificial islands in the disputed South China Sea. According to Kevin Wolf, an international partner at Akin Gump, companies added to the entity list will not be able to buy technology and other products shipped from the US without special permission to do so. Furthermore, the US State Department announced that it would begin imposing visa restrictions on Chinese citizens who are directly involved or complicit in the construction of the artificial islands or the militarization of the South China Sea.” For more details, please see NY Times.
Transportation
FLIGHTS CANCELLED, CARGO DELAYED DUE TO HURRICANE LAURA
As of Wednesday afternoon, 414 flights were cancelled at George Bush Intercontinental Airport in Houston as Hurricane Laura approached the Texas coast. United Airlines cancelled approximately 600 flights across its network for Wednesday and Thursday due to the Category 4 storm. Additionally, the flight cancelations will impact businesses shipping cargo with the carrier. For more information, please see Freight Waves.
Carriers
DHL TO HIRE 7,000 ASSOCIATES IN PREPARATION FOR PEAK SEASON
DHL Supply Chain is planning to hire 7,000 new staff by the end of 2020. The increased workforce will assist in handling peak holiday season as well as increased volumes in response to the coronavirus pandemic. Approximately 6,000 of the jobs will be in e-commerce fulfilment roles such as picking and packing. The remaining 1,000 roles will be across the carrier’s wider business. Additionally, DHL plans to improve its automation infrastructure. The company will expand to 1,000 LocusBot collaborative robots by the end of this year. For more details, please see Supply Chain Dive.
FEDEX ASSISTS IN TRANSPORTING URGENT MEDICAL SUPPLIES TO BEIRUT
FedEx has partnered with humanitarian organization Direct Relief to transport $11 million worth of medicines, medical supplies and personal protective equipment to Lebanon. FedEx transported the supplies via a dedicated charter flight. The supplies will assist healthcare facilities in responding to the deadly explosion that occurred earlier this month. For more information, please see Post and Parcel.
UPS EXPANDS PACKAGE HANDLING CAPACITY IN KANSAS
UPS has announced that its facility at Kansas City International Airport is being expanded. Renovations will include expanding the ramp from two aircraft parking spaces to five, totaling an area of 534,000 square feet once completed. UPS also plans to install new sorting equipment at the gateway enabling the carrier to triple its package handling capacity to 5,000 packages per hour. For more details, please see Post and Parcel.
Retail
UK RETAIL JOB LOSSES WORST SINCE 2009
The Confederation of British Industry (CBI) has said that British retailers have cut the most jobs since the financial crisis in 2009. In addition, the CBI predicts the number of job losses will accelerate. Quarterly CBI figures revealed the employment balance — which measures job changes over the past 12 months — decreased to -45 in August from -20 in May. This is the lowest figure recorded since February 2009, while a more significant fall is forecast for later this year. For more information, please see RTE.
QAD Precision News
HOW DESKTOP SHIPPING SOFTWARE HELPS BANKS CONTROL COSTS
Banks and financial institutions need a strategy to control parcel shipping spend. Perhaps surprisingly, banks are some of the biggest parcel shippers in the world. Many financial documents must be physically signed, and paper copies are necessary.
As a result, logistics is a significant portion of a bank’s overhead costs.
Furthermore, banks and financial institutions are subject to complex shipping requirements. Unlike many parcel shippers, banks deal with sensitive information. This makes security an important issue.
Banks that ship credit cards, loan applications and other sensitive documents need to know when their shipment reaches its final destination. However, they also need visibility as shipments move from point of origin, to each handler or carrier, all the way to the journey’s end.
Therefore, they have an enhanced need to monitor the chain of custody for items they process.
Taken together, all these considerations mean that banks need to balance the requirements of security, visibility, customer service and cost. The good news is desktop shipping software gives banks the opportunity to control costs and ensure shipments are handled with the necessary safeguards. In this QAD Precision Report, we look at the benefits of desktop shipping software for banks. To read the full report, please click here
