Oil-BRICS Tensions 🛢️
Good morning! As summer reaches its peak, it's time to celebrate a sweet and iconic day on August 25th – National Banana Split Day! While the mention of banana splits may conjure images of delectable desserts, this fun holiday also offers valuable insights for supply chain and logistics professionals.
Just like the components of a banana split come together to create a delightful treat, the various elements of a supply chain collaborate to deliver products efficiently and seamlessly. So, grab your favorite ice cream scoop, and let's dive into this edition. 🍌🍦
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BRICS Group Extends Invitations to Major Oil Exporters, Sparking Speculation on Economic Shifts and Anti-Western Influence
Saudi Arabia and the United Arab Emirates, major oil-exporting nations, have been invited to join the BRICS group, marking the first expansion in over a decade. Iran, Egypt, Ethiopia, and Argentina have also received invitations.
While Saudi Arabia is considering the offer, this move raises questions about potential shifts in global economic dynamics, de-dollarization, and the possibility of the BRICS bloc becoming more anti-Western due to the inclusion of countries with tensions against the West.
Check out today’s featured article from CNN to read more about BRICS and what it could mean for the world stage.
Featured Article
Saudi Arabia, UAE, and Iran among six countries invited to join BRICS group | CNN
“Oil powers Saudi Arabia and the United Arab Emirates have been invited to become members of the BRICS group of developing nations in its first expansion in over a decade.”
Leadership & Supply Chain
There are Essential Skills and Challenges in Hiring Supply Chain Leadership
Many successful corporate leaders, like Tim Cook and Mary Barra, have operational and supply chain backgrounds, highlighting the value of these roles. As supply chain leadership becomes more integral to business strategies, hiring challenges arise. A study shows that finding candidates with the right skill set, particularly in data analytics, optimization, and automation, is a significant challenge.
Essential hard skills for supply chain leaders include a holistic view of operations, data analytics, supply chain technologies, risk, and inventory management, while crucial soft skills encompass problem-solving, collaboration, adaptability, and influencing. To attract the right talent, companies should communicate a clear supply chain narrative and vision. Effective supply chain leadership involves holistic understanding, adaptability, and strategic hiring for a competitive edge.
War & Russia
Russia Accuses Ukraine of Missile Launch and Drone Attack, No Casualties Reported
Russia has accused Ukraine of launching a missile toward Moscow and conducting a drone attack on Crimea, with 42 drones reportedly involved. The Russian defense ministry stated that a modified S-200 missile was shot down over the Kaluga region near Moscow, while Crimea experienced nine drones destroyed by air defense and 33 suppressed by electronic warfare.
Despite these attacks, no casualties were reported, and Ukraine has previously claimed that such actions aid its counteroffensive efforts against Russian military infrastructure.
Let’s Get Global 🌎
Checking out the scoop outside of the United States…
💃 Shein Partners with Forever 21's Parent Company to Expand Fast-Fashion Reach in the US. China-based e-commerce giant Shein is collaborating with the parent company of Forever 21 to extend its presence in the American fast-fashion market. The partnership envisions potential store-within-store setups at Forever 21 outlets, along with the integration of Forever 21 clothing on Shein's platform. The deal involves share investments from both parties and aims to leverage Shein's online strength and Forever 21's physical retail presence to cater to a broad spectrum of shoppers.
💰Developing Countries Seek De-Dollarisation Amid Geopolitical Shifts. Developing countries, including those in the BRICS group, are accelerating efforts to reduce their dependence on the US dollar due to concerns over US dominance in global governance and finance. Russian President Vladimir Putin has described the process of de-dollarisation as "irreversible" and "gaining pace," citing recent geopolitical shifts and tensions. While these countries aim to give the world more currency choices and move towards using local currencies for trade, analysts believe that the dollar's dominance is likely to remain for the foreseeable future, despite the desire for a more multipolar financial landscape.
💦 China Accuses Japan of Hypocrisy in Response to Fukushima Wastewater Discharge. China has imposed a ban on seafood imports from Japan following the discharge of radioactive water from the Fukushima Daiichi nuclear power plant into the Pacific Ocean. Critics have accused China of hypocrisy, as its own nuclear plants release wastewater with higher tritium levels, which scientists say are not harmful. The move has sparked nationalist sentiments and concerns among Chinese fishmongers, while tensions rise as China defends its stance against Japan's actions.
iLevel With You 🏡
More topics for the average American household to consider…
🔥 Lawsuit Accuses Hawaiian Electric Company of Negligence in Devastating Wildfires. Maui County has filed a lawsuit against Hawaiian Electric Company (HECO) and its subsidiaries, alleging negligence that led to wildfires causing substantial damage and fatalities. The lawsuit contends that HECO neglected safety warnings, leading to devastating fires. Maui County is seeking damages potentially totaling tens or hundreds of millions of dollars. HECO is also facing a proposed class-action lawsuit for not de-energizing power lines after they fell, and it is the first time a Hawaiian government entity has formally accused a utility company of contributing to a major fire.
🥵 Record Heatwave Sweeps Across Central United States. A widespread heatwave characterized by high temperatures and suffocating humidity is affecting the central United States, challenging temperature records and leading to various impacts. Cooling centers have opened, schools without air-conditioning have closed early, and residents are trying to limit outdoor activities. Meteorologists have issued heat alerts for around 100 million people across 22 states as the heatwave continues, while the broader trend of extreme weather events is believed to be linked to climate change.
🇺🇦 US to Begin F-16 Training for Ukrainian Pilots in Arizona. The US will commence F-16 aircraft training for Ukrainian pilots in Arizona this fall, responding to increased pleas from Kyiv. The training, led by the Air National Guard's 162nd Wing, will take place at Morris Air National Guard Base near Tucson and will include Ukrainian maintenance personnel and pilots. This decision reflects a shift in US policy, as the Biden administration initially indicated that such training would only occur if European capacity was exceeded, highlighting the urgency to support Ukraine's defense needs.
Get Smart 🧠
Ramp up that brain power for these advanced topics…
📲 The Rise of Uber-Like Apps and their Development Costs. In today's world, the convenience of transport solutions like the Uber mobile app has made commuting seamless. However, similar services are now required in the transport and logistics sector. Uber-like apps for logistics are gaining popularity due to their benefits in managing logistics. The cost to develop such an app, like Uber Freight, can range from $30,000 to over $200,000 depending on the desired features and functionalities.
🇺🇸 Richard Martin Appointed Senior Executive of Supply Chain Management at Army Materiel Command. Richard Martin has been promoted to the position of senior executive of supply chain management at the Army Materiel Command (AMC). In this role, he will oversee various functions within the Army's supply chain management, depot and arsenal management, and logistics systems management. Martin's focus is on providing leadership and expertise to support soldiers and civilians globally, contributing to the optimization of supply chain management and building resiliency across the force. His previous work includes involvement in the development of the Vulcan data platform and the establishment of the OIB modernization war game.
♻️ McKinsey Research Shows High ESG Ratings Drive Market Outperformance. Companies are recognizing that strong environmental, social, and governance (ESG) metrics lead to market success, with McKinsey research highlighting their impact. Reduction of greenhouse gas emissions is revealing hidden savings across supply chains, prompting more leaders to integrate sustainability metrics into strategic supply chain planning. Key elements for designing sustainable supply chains include measuring CO2 emissions, assessing resource usage like water and commodities, exploring alternative power sources, evaluating recycling flows, and quantifying sustainability risks and fair trade considerations.
The Workday Dash is an aggregation of articles regarding the transportation logistics, trucking, and supply chain industries for November 25, 2024, from iLevel Logistics Inc.