The logistics hiring “boom” may be cooling off, but those in search of talent are in luck

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Good morning! Today is National Fun At Work Day, so let's make sure the supply chain is running smoothly, without any hiccups or delays - it's all in good fun-ction!

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Recruiting and sales employees at logistics companies are feeling the heat. As tech industries begin to lay off massive amounts of workers after the pandemic hiring boom, major logistics companies are beginning to follow the same. While more manual positions such as drivers and warehouse staff continue to be in high demand, labor in the office itself at logistics companies may be in jeopardy.

Check out today’s featured article from Supply Chain Dive to read about trending layoffs at big-name logistics companies and whether experts think the trend will continue. Is the logistics industry going the way of the tech industry? ☕️

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Featured Article:

Logistics layoffs signal industry-wide culling, leave seasoned talent available | Supply Chain Dive

“Flexport and C.H. Robinson won’t be the last big names to cut jobs as industry demand shrinks, experts say.”

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Business Strategy & Risk 📌

The relationships between suppliers and retailers is fragile

There are a number of ways that suppliers can defend themselves against retail bankruptcies. Some strategies include:

• Diversifying their customer base: By not relying too heavily on any one retailer, suppliers can minimize their exposure to risk if a retailer goes bankrupt.

• Reviewing and monitoring their accounts: Suppliers should keep an eye on their accounts with retailers, and be aware of any signs of financial distress, such as late payments or decreased orders.

• Implementing strong credit management practices: Suppliers can reduce their risk by implementing credit checks and setting credit limits for retailers.

• Securing payments through letters of credit or other financial guarantees: This can help protect suppliers in the event of a retailer's bankruptcy.

• Building a good relationship with the retailer: Maintaining a good relationship with the retailer can help to ensure that the supplier is aware of any financial problems early on and may be able to negotiate more favorable terms.

• Insuring against bankruptcies: Some suppliers may purchase insurance that covers the risk of a retailer's bankruptcy.

It's important to note that it is not always possible to protect against bankruptcy, but implementing some of the above strategies can help to minimize the impact if one occurs.

Read more from Supply Chain Dive ▶

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iLevel With You 🏡

More topics for the average American household to consider…

💸 Americans spent less in December and inflation took the cue. Consumer spending falling can positively affect The Federal Reserve's inflation gauge because a decrease in consumer spending can lead to a decrease in demand for goods and services, which can lead to a decrease in prices. This can help to keep inflation under control, which is one of the Federal Reserve's primary goals. Additionally, if the decrease in consumer spending is due to economic factors such as a recession, the Federal Reserve may lower interest rates to stimulate the economy and increase consumer spending, which can also help to keep inflation under control.

🔩 Welcome to the world, “green” steel. The world’s second-largest steelmaker, ArcelorMittal, is investing $120 million in Massachusetts-based Boston Metal. The investment is meant to expand production in a plant in Woburn, MA, and launch more products in Brazil. Dubbed “green steel”, the manufacturing investments are meant to convert iron ore into steel with renewable electricity. Steel production is a significant contributor to global carbon emissions, and by using renewable energy sources such as wind or solar power, the carbon footprint of steel production can be significantly reduced.

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