Watch out: commercial vehicle industry at risk due to geopolitical uncertainty
Good morning! So sorry yesterday’s edition got lost in the void. We know you missed us - but all the more reason to kick back with a cup o’joe this morning and get your fill on the latest supply chain news below! Happy Monday!
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Geopolitical tensions can lead to trade restrictions, such as tariffs and import/export restrictions, which can disrupt the flow of goods and components across borders, affecting the demand for commercial vehicles. Geopolitical events can also lead to fluctuations in currency exchange rates, affecting the cost of goods and services, and the competitiveness of exports.
The geopolitical climate is a significant driver of volatility in the global commercial vehicle market, affecting demand, supply, prices, and other key factors that determine the health and performance of the market. Companies operating in the commercial vehicle industry need to be aware of these risks and develop strategies to mitigate them in order to maintain their competitiveness in a rapidly changing global marketplace.
Check out today’s featured article from Trucking Info to read about why consistent disruptions to the global economy are likely to continue to wreak havoc upon the commercial vehicle market globally for the next five years, at minimum. Is volatility the “new normal”? ☕️
Featured Article:
Geopolitical Climate Drives Volatile Global Commercial Vehicle Market | Trucking Info
“Disruptions to the global economy are occurring more often and with greater impact than ever before, and the instability isn’t likely to change, said Giovanni Schelfi, partner at global consultancy firm Roland Berger.”
Human Resources & Company Culture 🎉
Employee “peace of mind” is crucial for manufacturing operations retention
Employee peace of mind is a necessity in the manufacturing sector these days if you don’t want your company to look like a revolving door. Here are some ways a company can boost plant operations and employee retention in the manufacturing industry:
Invest in technology: Implementing technology such as automation, data analytics, and digital tools can improve efficiency, reduce downtime, and increase productivity.
Foster a positive workplace culture: A positive and inclusive workplace culture can increase employee engagement and motivation, leading to improved performance and lower turnover.
Provide ongoing training and development: Providing employees with opportunities for professional growth and skill development can increase their job satisfaction and retention.
Encourage employee involvement and feedback: Involving employees in decision-making and encouraging their feedback can improve morale, engagement, and job satisfaction.
Implement flexible work arrangements: Offering flexible work arrangements such as flexible hours, remote work options, and time off for family obligations can improve work-life balance and reduce employee stress.
Implement a comprehensive benefits program: Offering a comprehensive benefits program, including health insurance, paid time off, and retirement plans, can improve employee satisfaction and reduce turnover.
Foster teamwork and collaboration: Encouraging teamwork and collaboration among employees can improve communication, reduce friction, and increase efficiency.
Implementing these strategies can help boost plant operations, increase employee satisfaction and motivation, and reduce turnover in the manufacturing industry.
Driver Issues & Safety 🚛
41,000 truck drivers tested positive for marijuana in 2022
Marking a 32% increase compared to 2021m a whopping 41,000 truck drivers tested positive for the substance, according to the Federal Motor Carrier Safety Administration’s Drug & Alcohol Clearinghouse.
Decriminalization of marijuana may lead to changes in drug testing policies for truck drivers, as employers may be less likely to test for marijuana use, or may revise their policies to allow for the use of marijuana in certain circumstances. Decriminalization may also affect hiring practices in the trucking industry, as employers may be more willing to hire individuals who have used marijuana in the past, or who use marijuana for medical purposes. The decriminalization of marijuana may raise concerns about the impact of marijuana use on workplace safety, particularly for truck drivers who operate heavy vehicles on public roads. This may also have an impact on insurance rates for trucking companies, as insurance providers may adjust their pricing to reflect the potential risks associated with marijuana use.
Despite changes in state law, marijuana remains illegal under federal law, which creates challenges for the trucking industry, as truck drivers are subject to federal regulations, regardless of state laws.
Let’s Get Global 🌎
Confused David Spade GIF via GIPHY
🛢️ The U.S. suffers refinery outages, and the rest of the world scrambles to fill the oil void. Asian buyers have purchased a minimum of 7 million barrels of heavy-sour Canadian crude for the month of February. These numbers surpass January 2022 numbers, according to previous data. Canada usually sends crude to refineries in the U.S., but a series of shutdowns due to fires had forced Canada to pivot.
⚡️ Maersk North America is leaning into the electric trend. Maersk North America provides a range of shipping and logistics services to customers, including ocean transportation, intermodal transport, and supply chain management solutions. The company operates a fleet of container ships and a network of ports and terminals in North America, connecting businesses with markets around the world. The company has reiterated that it is committed to sustainability and innovation, offering digital solutions and using data and analytics to optimize supply chains and improve the customer experience.
📱 Apple CEO Tim Cook is under pressure to say goodbye to China. As the tech giant faces increasing needs to diversify its manufacturing supply chain, Cook is searching for neighboring countries to fill the void. Under Tim Cook's leadership, Apple has had a complex relationship with China, both as a manufacturing base and as a market for its products. The company has had to navigate challenges related to government regulations, human rights concerns, and competition, but it has continued to invest in the country and maintain its position as a leading technology company.
iLevel With You 🏡
More topics for the average American household to consider…
⛴️ DOT announces $384.4 million federal funding grant for ferries. And no, not the kind with wings. Made available through President Biden’s Bipartisan Infrastructure Law, the funding awards 23 ferrying projects across 11 states and the U.S. Virgin Islands - from building new docks to refurbishing fleets. Overall, ferries are an important component of the transportation infrastructure in the United States, playing a critical role in connecting communities, supporting tourism, and supporting commerce and emergency response.
Get Smart 🧠
Ramp up that brain power for these advanced topics…
💰 The Freight booking platform Freightos is heading for NASDAQ. In a bid to go public, the company is finalizing its plan to join the NASDAQ exchange with more than $80 million raised to fund this growth strategy. Based in Hong Kong, Freightos is a digital platform that offers a global network of shipping providers and an online marketplace for shipping services. It helps users compare prices and book shipping services in real-time.
🎙️ Podcasting about the future of supply chain careers. Co-founder and CEO of Leapgen Jason Averbook spoke on the SupplyChainBrain podcast about the staggering changes in the supply chain workforce over the last few years. Overall, the COVID-19 pandemic has led to significant changes in the supply chain industry, and careers in this field are now focused on innovation, resilience, and sustainability.
⏳ The supply chain could be facing major changes over the upcoming decade. The continued rise of digital technologies, such as artificial intelligence, the Internet of Things, and blockchain, is expected to drive significant changes in supply chain processes, from procurement and logistics to demand planning and customer service. Disruptive events such as natural disasters, pandemics, and political instability are expected to continue to occur, and companies will need to build resilience in their supply chains to better cope with these types of events.
🔋 Nikola is praising a future focused on hydrogen-powered zero-emissions trucks. Zero-emissions trucks powered by hydrogen produce only water as a byproduct, which helps to reduce greenhouse gas emissions, air pollution, and other environmental impacts associated with traditional diesel and gasoline-powered vehicles. Overall, hydrogen-powered zero-emissions trucks play an important role in reducing environmental impacts, improving energy security, supporting the development of fueling infrastructure, and providing a cost-effective and practical solution for the transportation sector.
The Workday Dash is an aggregation of articles regarding the transportation logistics, trucking, and supply chain industries for November 28, 2024, from iLevel Logistics Inc.