✈️ Bolt Check
Good morning! As we bid farewell to 2023 and prepare to usher in a new year, we bring you the final edition of our Supply Chain and Logistics Newsletter for this eventful year. It has been a year marked by both challenges and innovations, where supply chain disruptions tested the resilience of businesses across the globe, and logistics professionals worked tirelessly to navigate an ever-evolving landscape.
Join us as we look back at the lessons learned and forward to the exciting possibilities that 2024 may hold.😁🎉
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Boeing Calls for 737 Max Inspections Over Loose Bolt Concerns
Boeing's got a heads-up for airlines: They're suggesting a look-see at their 737 Max planes, mainly to check for any loose bolts in the rudder control system. This comes after one airline found a bolt missing its nut during a routine check, and Boeing spotted another plane with a nut not snugly tightened. It's about a two-hour job per aircraft, and they're making sure all new 737 Max planes get this check before they're handed over to customers.
Check out today’s featured article from CNBC to learn more about Boeing’s need to inspect 737 Max planes and what could it mean for planes that weren’t checked. Will there be more small things found that need to be fixed in Boeing planes? Will this problem cause anything serious?
Featured Article
Boeing urges inspections of 737 Max planes for ‘possible loose bolt’ | CNBC
“Boeing is urging airlines to inspect 737 Max planes to look for a “possible loose bolt” in the rudder control system, the latest quality issue to affect the manufacturer’s best-selling jetliner.”
Court & Alibaba
U.S. Court Allows Fake Squishmallows Case Against China's Alibaba to Proceed
A U.S. federal judge in New York isn't letting Alibaba off the hook just yet.
Toymaker Kelly Toys, the folks behind those cute Squishmallows, filed a lawsuit saying Alibaba's online spots were peddling fakes. The judge said, "Hmm, this might have legs," and denied Alibaba's request to toss it out.
Apple & Imports
Gas Prices Expected to Drop in 2024
GasBuddy's forecast predicts that U.S. gas prices will drop in 2024 for the second year in a row, with an expected average of $3.38 per gallon. This is an improvement from 2023's $3.51 per gallon and a significant decrease from 2022's $3.95 per gallon, which surged due to Russia's Ukraine invasion causing global energy market disruptions.
Let’s Get Global 🌎
Checking out the scoop outside of the United States…
🇲🇽 Mexican Officials Clear Border Camp Amid Mounting U.S. Pressure to Limit Migrant Crossings. Officials in Matamoros, Mexico, have started dismantling a migrant tent camp near the Rio Grande, possibly in response to U.S. pressure to deal with the rising number of migrants arriving at the U.S. border. A U.S. delegation recently met with Mexico's President to discuss strategies to reduce the migrant influx, including temporary closures of key border rail crossings into Texas, highlighting the United States' desire for Mexico to take more action to prevent migrants from using various transportation methods to reach the border.
🌊 Hapag-Lloyd Expresses Concerns Over Safety of Red Sea Route. Hapag-Lloyd AG, the shipping company, has decided to keep its vessels away from the Red Sea route despite the new U.S.-led task force to protect it from militant attacks. Instead, they'll take the longer route via the Cape of Good Hope, adding thousands of miles to the trip. Recent attacks by Yemeni rebels have disrupted about 12% of global trade along this route, causing increased costs and delays for shipowners and potentially impacting consumers as container shipping spot rates have surged by 26% in the last four weeks due to these diversions, as reported by Bloomberg Intelligence.
iLevel With You 🏡
More topics for the average American household to consider…
☕️ U.S. Companies Exercise Caution in Chinese Investment, Except for Fast Food and Coffee. Despite challenges like security issues and strained U.S.-China relations, American fast-food giants are flocking to the Chinese market. KFC's parent company just hit 10,000 restaurants and aims to reach half of China's population by 2026, while McDonald's plans to open 3,500 new stores in China in the next four years. Even Starbucks is in the game, investing $220 million in a manufacturing and distribution facility in eastern China. These moves go against the trend of some U.S. companies moving away from China and don't quite match China's economic modernization plans.
🚗 Safe and Efficient Driverless Cars Are on the Horizon. Companies like Waymo are using AI to create cars that have driven millions of miles without accidents. These self-driving vehicles mimic the human nervous system, making them safer than traditional cars. Despite some challenges like emergency response coordination and hacking concerns, the safety and efficiency benefits of self-driving cars make adopting this technology crucial for the future of transportation.
👗 Fashion Retailers Must Prioritize Sustainable Sourcing for a Greener Future. The fashion industry is under growing pressure, especially from younger consumers, to make sustainable choices when sourcing materials. This means fashion brands have to find affordable and eco-friendly suppliers, spread out their supply chains to reduce risks and consider new sourcing models for environmental and social impact. Additionally, governments are introducing laws that require companies to be more careful about where they get their materials, leading to changes in sourcing away from high-risk countries like China.
Get Smart 🧠
Ramp up that brain power for these advanced topics…
⛴ Key US Navy Allies Withdraw from Red Sea Operation Amidst White House Missteps. Following Houthi attacks on Red Sea shipping, President Biden's team set up a new maritime squad called Operation Prosperity Guardian. But here's the scoop: some European pals like Italy and Spain aren't too eager to shout it from the rooftops. This effort wants to gather more than 20 nations to safeguard trade in the Red Sea near Yemen, but not everyone's jumping on the bandwagon.
💪🏼 Why Enhanced Traceability Is Crucial in the Fight Against Counterfeiting. The boom in online shopping and faster deliveries has made it easier for counterfeiters, and it's a big problem, especially in the food industry, costing up to $40 billion each year. Businesses need to tackle this issue because it's not just about money – it's also a safety risk and can harm their brand reputation. To fight counterfeiting, better product tracing with improved coding and marking techniques is a must, as the anti-counterfeiting packaging market is set to hit $255.41 billion by 2030.
🛳 A Detour of 8,000 Kilometers Highlights Shipping's Chokepoints. The gas tanker Pacific Weihai, usually on a 30-day trip from Houston to Ningbo, China, has hit some major detours due to low water levels and security issues. It had to skip the Panama Canal and take a longer route via the Suez Canal. But because of Houthi rebel attacks, it's now going all the way around the Cape of Good Hope, adding 15 days and about $1.8 million in extra costs to the journey. These diversions highlight how war and climate change can mess with global shipping.
The Workday Dash is an aggregation of articles regarding the transportation logistics, trucking, and supply chain industries for November 22, 2024, from iLevel Logistics Inc.