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Ensuring the Productivity of Remote Supply Chain Employees: 8 Strategies

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Ensuring the Productivity of Remote Supply Chain Employees: 8 Strategies

Supply chain workforces are changing. This sector is leaning increasingly towards remote work like many others, letting more people work from home (WFH) and even hiring people across borders. While this shift has many advantages, managing remote productivity may challenge some organizations.

While WFH employees say they’re about 9% more productive at home than in the office, some encounter more issues. Helping workers reach their peak productivity looks different in remote environments than in-person ones. With that in mind, here are eight ways supply chain companies can ensure their remote employees remain productive.

1. Hire People Who Fit Remote Work Well

Ensuring remote productivity begins before people even start in their roles. If businesses want to make the most of a remote workforce, they must first look for candidates who work well in these environments.

Not every person is ideally suited for remote work. More than 60% of American workers who can work from home but choose not to say they do so because they feel more productive in the office. Supply chains must ensure they don’t place these workers in remote positions if they hope to maximize their productivity.

Companies should look for characteristics like self-motivation and strong communication skills in remote position candidates. Questions about applicants’ previous remote work experience, independence and deadline management can also help find ideal work-from-home candidates.

2. Communicate Thoroughly and Often

Communication is another critical consideration for boosting remote productivity. Without regular communication, staff may become distracted, feel isolated or lose track of upcoming major and minor deadlines. By contrast, consistent check-ins and meetings can help remote employees keep work at the top of their minds and remain engaged.

This communication should be both frequent and in-depth. If remote workers don’t understand what managers expect, they’ll struggle to stay engaged. To combat this, higher-ups should be as informative as possible when talking with their remote workforce. Encouraging these workers to ask questions can also help, as two-way communication will provide the most assistance for everyone involved.

3. Use Multiple Communication Channels

As supply chain managers communicate with their remote workers, they must remember to switch between different channels. Modern technology provides many remote communication options, each with unique advantages and downsides.

Video conferencing is the most engaging form of remote communication, but it shouldn’t be the only tool companies use. Nearly half of all professionals report high feelings of burnout from frequent virtual meetings — a phenomenon known as “Zoom fatigue.” Switching between communication channels will help avoid this, ensuring higher productivity.

Zoom and similar tools are ideal for regular check-ups and more in-depth meetings but not daily use. Email can suffice for more mundane, repetitive communication, while instant messaging is perfect for time-sensitive but simple requests.

4. Establish Routines

Flexibility is one of the primary draws of working from home. However, too much freedom in an employee’s working schedule can make it harder to stay engaged. While offering schedule flexibility is necessary, supply chain businesses should also establish some amount of routine to keep remote workers on track.

Putting parameters on remote work hours — such as giving an acceptable range of when workers can start and stop — is an excellent first step. Similarly, leaders can have virtual office hours that remain unchanged so the staff knows when they can contact them. Regular meetings and check-ins can also help establish routines.

5. Help Employees Build Their Home Offices

Another common productivity killer for remote workers is a lack of boundaries between their work and home life. It can be challenging to stay engaged in work when employees don’t feel like they’re in a work environment. The solution is to create a dedicated home workspace and organizations can help.

Remote workers can convert their garage into an office with the right tools. Converting a garage has a broad spectrum of benefits, including: 

  • Fewer distractions
  • Added home value 
  • Easy personalization 

Employers can provide the necessary equipment — like lights, computer monitors or office chairs — to help them create these workspaces. By easing the financial burden of building a home office, businesses make it easier to remain productive at home.

6. Provide Emotional Support

It’s also important not to overlook the impact remote work may have on workers’ mental health. While many remote workers enjoy the flexibility and improved work/life balance, many also find it isolating. That can make it hard to remain engaged, but now more online options exist to meet new people.

Regular check-ups are an ideal time to help provide the emotional support employees may need. Managers should be upbeat and friendly and avoid only talking about work on these calls. Asking workers how they’re doing and if they need anything to be more comfortable can go a long way.

Companies should also consider providing staff access to resources that could help them. That could include articles about managing remote work, self-care tips and tools, discussion groups or similar options.

7. Host Remote Social Events

As part of that support, supply chain organizations should host virtual non-work events, too. Social events are an excellent way to break up the monotony of a job and boost engagement in any working environment — remote work is no outlier. While these activities may look different than in-person ones, they can provide the same relief.

Casual video conferencing meetups are an excellent option. Companies can host virtual happy hours, play online games or do virtual teambuilding activities over the same platforms they use for work calls. It’s also essential to encourage employees to talk to each other and build stronger work relationships during these events to help boost productivity.

8. Measure and Reward Productivity

Supply chain businesses should set up systems to measure remote productivity. Setting key performance indicators (KPIs) and implementing tools to measure them can help reveal where the company falls short, providing a path toward improvement.

Thankfully, tracking remote productivity and time management has never been easier. The time-tracking software market is booming and could exceed $1.9 trillion by 2030, so plenty of tools are available to measure these KPIs.

Employers should also reward remote workers who meet and exceed goals based on these KPIs. Rewarding high productivity with cash bonuses or other incentives will help encourage increased engagement.

Follow These Steps to Maximize Remote Productivity

If supply chain organizations know how to manage them correctly, remote workers can be just as — if not more — productive than an in-person workforce. Following these steps will help employers and managers ensure their workers reach their full potential, regardless of where they are.

As working from home becomes more common, these steps will become increasingly important. Learning to maintain high productivity among remote workers now will help supply chains excel in the future.

consumers food plastic

Why Consumers Want More Action on Sustainability

Earlier this year, CGS, a global business applications provider, unveiled its latest annual 2022 Retail and Sustainability Survey. The survey examined different aspects of sustainability from a consumer perspective to gauge sustainability adoption and consumer perspectives, among other things. Surprisingly, despite economic uncertainty in the past, present, and looming on the horizon, consumers seemed eager to embrace sustainability and demand it from legislators and companies alike. This article will look at the survey and how sustainability is impacting consumer goods.

What’s the sustainability movement?

Despite current world events and inflation, consumers are more interested than ever in shopping for sustainable products. The United States Environmental Protection Agency (“EPA”) defines sustainability as the pursuit of creating conditions where humans and nature can coexist and support present and future generations.

Sustainability is important because it enables us to fulfill our social and economic needs without jeopardizing our society. CGS’s latest 2022 Retail and Sustainability Survey explored how consumers view sustainability today.

Sustainability interest is surging after the Covid-19 pandemic

The interest in sustainability briefly dropped during the pandemic as countries turned towards trying to stop the spread of Covid-19 at any cost. Global supply chains came to a grinding stop, and consumer desire for goods evaporated overnight. In 2020, only 51% of respondents indicated that sustainability was at least “somewhat important.” Today, however, 79% of U.S. consumers report believing that sustainability is “somewhat important” when looking for fashion, apparel, and footwear. For younger generations, 33% of Millennials believe that purchasing sustainable products is “very important,” and 27% of Gen Z believe the same, which is key when it comes to eco-friendly initiatives.

Importantly, past surveys demonstrate that consumer concern for sustainability has only risen. In 2019, 68% had responded that sustainability was “somewhat important.” 

Sustainability at any cost?

Sustainability often comes at a price, but despite inflation and other global disruptions, many Americans are open to shopping sustainability. Among those surveyed, 68% indicated they would pay more for sustainable products. This increased from 56% in 2020 to 47% in 2019. Gen Z stood out again when it came to spending and reported that they were the most likely to pay up to 100% more for a sustainable product.

Related to cost is also where consumers are shopping. Sustainability is driving consumers to change the brands they shop from based on whether they make sustainable offerings. 50% of U.S. consumers have changed where they purchased goods in the past year, and 14% are purchasing from businesses with sustainable practices.

Can fast fashion clean up its act?

These trends can also be seen when it comes to some of the world’s biggest startups, like Shein. Shein is best known for turbocharging the fast fashion business model and producing clothes at unbelievable prices. In the U.S., environmental and social good can hugely impact a company’s ability to attract capital in today’s market.

Shein and other fast fashion startups mostly ship their products via the mail. However, Millennials and Gen Zers both reported making more purchases in-store over the past year, with 45% and 43%, respectively. In the end, cheap clothing may be convenient, but it is not necessarily driving consumer demand.

Consumers expect transparency

Sustainable production practices aren’t the only concern for consumers – expectations for transparency have also continued to rise. Demand for increased transparency rose from 2020 when only 23% reported that brands gave enough transparency into their sustainability practices. Today, in 2022, 34% felt that brands were transparent enough. Many global manufacturers are putting planet preservation into their business plans.

At the forefront of sustainability is the practice of ethical labor standards. The survey found that 32% believed that brands should commit themselves to ethical labor practices and that it should be their priority.

Should sustainability be legislated?

However, what should we do when brands refuse to change? The CGS survey also attempted to glean answers on whether consumers thought businesses or the government should be in charge of driving sustainable initiatives. Earlier this year, in anticipation of New York Fashion Week, New York legislators unveiled the Fashion Sustainability and Social Accountability Act (“Fashion Act”). The Fashion Act would have forced brands in fashion to adopt sustainability-related obligations.

Following this announcement, 49% of respondents indicated they would like to see more sustainability from different brands. Interestingly, 23% were opposed because they feared it might lead to more expensive goods. 

The survey also broke down people by age to determine which age groups were more inclined to support sustainable legislation. 59% of Millennials and 60% of Generation Z were in favor of national/global sustainability laws. In contrast, the older generation of Baby Boomers found only 37% in support of sustainability legislation.

California leads the charge in sustainability legislation

In June, California passed a similar bill addressing everything from fast fashion and e-commerce packaging to clothing displays and beauty packaging. Among other requirements, the bill will demand producers that sell, distribute, or import into California (basically any company operating in the U.S.) to reduce single-use packaging by 25% by 2032. Of course, the California law is still too new to predict how it will actually impact consumers.

The beauty industry, in particular, faces tremendous hurdles when it comes to reducing packaging. Single-use sachets, which are commonplace to deliver product samples, are almost impossible to produce in recyclable versions. In contrast, some experts view this as an opportunity to establish reuse and refill infrastructure and technology. 

In any case, supply chains, retailers, and distributors will all be forced to adapt to these industry disruptions. CGS’ survey indicates that consumers are hungry for these changes and willing to encourage legislators to act when companies fail to.

What’s driving the “going green” phenomenon?

Besides legislation, though, what precisely is driving consumers’ motivations for “going green?” Among all age groups, Gen Z was the most influenced by celebrities and other influencers for going green at 15%. However, receiving information about sustainability initiatives and lower pricing ended up being the most influential. 38% of respondents said they would be more motivated to purchase sustainable products if they received more information, and 56% were motivated by lower pricing. 

Lower pricing isn’t the only thing consumers appreciate, though. Many buyers also appreciate business updates via texting and SMS, which allows them to quickly and conveniently communicate with the brands they love.

How do consumers embrace sustainability?

Finally, when companies aren’t doing enough and legislators are coming up short, many consumers in the U.S. are taking things into their own hands. 42% of respondents indicated they are waiting longer or choosing longer shipping options for products that are better for the environment. When broken down by generation, 31% of Generation X and Millennials are waiting longer, and only 27% of Gen Z are. In the end, these types of motivations are also shifting business behavior.

The bottom line

Sustainability isn’t just a throw-away trend, and “going green” will only become more popular. The CGS 2022 Retail and Sustainability Survey reveals just how much consumers are demanding that companies and legislators embrace sustainability. Today, sustainability isn’t just about “green statements” but about real, lasting change.

 

tariff GSF shippers carbon

Why Cargo Owners Should Be Checking For Bugs in Boxes 

Invasive pests transferred between countries in intermodal containers have potentially devastating consequences for agriculture and the natural environment.  Global Shippers Forum (GSF) is alerting shippers to the crucial role they play in tightening biosecurity in the container supply chain at the packing point.

While there are various sources of potential pest contamination throughout the global freight supply chain, all involved need to take measures to minimize the potentially devastating consequences that unwanted invasive pests can deliver. The Global Shippers Forum (GSF) represents cargo owners which export and import all manner of commodities transported in seaborne containers and urges a greater awareness of the threat. 

Hosted by the UK Government on 19th and 20th September a specialized group of trade bodies, shipping industry representatives and national plant protection and bio-security agencies will meet at the International Workshop on Reducing the Introduction of Pests Through the Sea Container Pathway*. GSF will be representing shippers to ensure that the scope and limits of their responsibilities are clearly defined.  James Hookham its Director will be speaking during the opening session.  

Inspections of containers arriving at borders carried out by national biosecurity agencies over the past few years suggest that the number of containers and cargoes infested by pests may be greater than feared. National environment and agricultural ministries have been working through the UN’s International Plant Protection Convention (IPPC) to tackle this issue and the London workshop has been convened to consider options for regulating the cleanliness of sea containers and an International Standard for Phytosanitary Measure for the cleanliness of intermodal containers could be in prospect. 

GSF has been monitoring and influencing these developments since 2018 when it was invited to join an IPPC Task Force set up to examine the threat to plant health posed by pest-contamination of sea containers.  The Task Force’s report at the end of 2021 set out a range of regulatory options for its parent body, the Commission for Phytosanitary Measures (CPM) to consider. Crucially, it also warned that implementation of new mandatory requirements could impose significant new costs and risks to the fluidity of the international movement of containers.  GSF has been clear in its opposition to any new rules applying indiscriminately to every container shipment, urging that controls and resources be targeted instead on high-risk trade corridors and specific pest threats.

Global Shippers Forum (GSF)

Global Shippers Forum is the global business organization speaking up for exporters and importers as cargo owners in international supply chains and trade procedures. Its members are national and regional shippers’ associations representing hundreds of manufacturing, wholesaling, and retailing businesses in over 20 countries across five continents. GSF works for safe, competitively efficient, and environmentally sustainable global trade and logistics.

chromatography

With 8.1% CAGR, Chromatography Software Market Worth USD 822 Million by 2028

Chromatography software market has witnessed wide applications with increased R&D activities across the pharmaceutical sector. It is claimed that the software reduces the timeline of the sample data analysis that the pharma companies need. 

Food-borne diseases and contamination has made testing a vital process. One of the most reliable features of the software is its nature of the operation. Many testing agencies are preferring the software as all the chromatography data can be processed, combined, managed, and reported all under one portal. 

Reportedly, global chromatography software industry size is predicted to cross USD 822 million by 2028. Technological advancements have allowed companies to make software that make food quality checks easier. The data solutions available in the market and the techniques used to collect the data are highly compatible. For instance, an appropriate quality check of food products requires an analysis of mixtures that need to be separated carefully through processes like liquid chromatography (LC), supercritical fluid technique (SFC), or gas chromatography (GC). 

Technological advancements augmenting a bright industrial future

Numerous market players are working on research activities and creating innovative solutions for the betterment of the industry. For example, a chromatography data system software (CDS) has been launched by Jason Inc, a leader in the chromatography software market. The recent ChromNAV 2.0 HPLC software is said to be quick to learn operations. 

Advancements in the new techniques reduce the operation time and save the functional cost as well. Scion Instruments, an industry player, has created a standalone CDS software that helps perform HPCL testing on pharma samples. The solution can also be used in laboratories for testing. Further, the OpenLad CDS developed by Agilent Technologies allows the control of GC, LC, and single quadrupole LC/MS in the lab using the single user interface. 

Standalone chromatography solution segment driving the market trends

During 2022-2028, the standalone chromatography software industry share is projected to expand at a CAGR of 7.8%. Miniaturization of electronic components has enabled the development across the segment. Safe and convenient mobile control is provided by companies for their systems. The current focus of the market is multipurpose standalone software-based devices. 

Companies are focusing on the creation of versatile and optimum functionality software. The integration of mass spectrometry technology in standalone devices has made the process simpler. Earlier, these devices needed locally stored data and remote access was not available. It also meant the use of multiple software packages. This can now be eliminated using the latest innovations in the chromatography software industry.

In 2021, the electronic testing segment had a considerable share of the industry. The segment is forecasted to grow at an 8.6% rate during the forecasted period. Several government policies have been imposed related to several testing and inspection processes. 

The key players in the chromatography software market are Bruker Corporation, Agilent Technologies, Gilson Inc., Waters Corporation, Axel Semrau, Restek Corporation, and Shimadzu Corporation among others. Strategic development by these players has created new initiatives for the betterment of the industry and future growth is expected to be seen from existing key drivers such as biotechnology applications and hospital end-users. 

 

client aurora

Best Benefits of Using Chatbots in the Logistics and Transportation Industry

Logistics and transportation companies require coordinating with several departments in real-time to ensure on-time delivery. Besides, they need to constantly share updates on order supply or delivery status with the clients. In this era of digitization, performing such operations using phone calls or manually is impractical. 

That’s where chatbots can help!

With chatbots, businesses can create engaging and personalized conversational experiences. From sharing business updates to resolving clients’ queries, chatbots provide end-to-end virtual assistance, redefining customer support. Rightly so, leading industry players like XpressBees, UPS, and LetsTransport are leveraging chatbots. 

The best part? With a no-code chatbot builder, building and deploying chatbots has become hassle-free. No wonder, these chatbot builders are gaining popularity among firms wanting to establish an omnichannel presence. Further, the cost efficiency of chatbots makes them ideal for businesses, especially SMBs with tight budgets. 

Did you know? The chatbot market is expected to reach $9.4 billion by 2024 at a CAGR of 29.7%. 

In this post, we will share the five best benefits of chatbots for the logistics and transportation industry.

1. HELPS WITH DATA ANALYTICS

Data analytics helps companies gain in-depth insights into customer activities and make informed business decisions. It helps them streamline customer support operations, identify pressing challenges, and use data-driven solutions to overcome them. 

For instance, if a customer raises queries regarding their delivery status, authorities in respective departments can receive the notification on their systems. With chatbot integration, customer support experts can track crucial details like customer purchase history, order ID, GPS location, shipment status, and more. 

Notice how iMile’s chatbot collects user data in real-time. This approach helped their team handle 6X queries efficiently. 

2. SUPPORTS FLEET AND STAFF MANAGEMENT

Tracking the availability of employees and vehicles is pivotal for logistics and transportation businesses. This helps them better manage their delivery schedule and ensure on-time delivery. According to statistics, 41% of customers rank fast and reliable delivery as one of their top priorities. However, only 15% of customers in the US are satisfied with delivery speeds. 

Deploying chatbots can help businesses track en route, under maintenance, and idle vehicles. Besides, they can monitor the availability of their employees or drivers. This helps in getting visibility of resource availability, allowing them to assign delivery tasks effectively. For fast delivery services, companies can gauge whether to opt for road vehicles, cargo, or freight train shipping. 

3. AIDS WITH SEAMLESS OPERATIONS AND PRODUCTIVITY

The productivity of a logistics and transportation firm depends on how well the workforce manages the warehouse and operations like shipping, inventory management, distribution, delivery fulfillment, and customer support services. By streamlining the tasks related to customer relationship management, chatbots can help improve the team’s productivity. 

Let’s say – your customer support experts spend around four hours servicing client requests. AI-powered chatbots can help reduce time consumption. As per reports, chatbots are efficient enough to save 30% of a company’s time spent in handling client requests. 

AI-powered chatbots like IBM Watson Assistant can answer 79% of repetitive questions with 14.7 times more accuracy than others. This reflects that your team can save around 1.2 hours daily. Your employees can utilize the time for complex operations like inventory management, order fulfillment, and warehousing. In short, chatbots can improve team efficiency and productivity.

4. PROVIDES 24*7 CUSTOMER SUPPORT

According to reports, the rise of globalization has made it crucial for businesses to operate  24*7 to gain a competitive edge. Besides, millennials expect them to resolve their queries within an hour. 

As running any business relentlessly can be draining, companies are switching to chatbots for uninterrupted customer support services. Statistics reveal that 64% of users consider ongoing service as the best feature of chatbots. So, deploying a chatbot with round-the-clock support can help logistics and transportation firms establish high customer service standards. This will improve customer satisfaction rates. 

Another study highlights that establishing continuous customer support can help save clients valuable time. So, logistics firms deploying chatbots can create a great impression on customers and achieve positive reviews as social proof of their exemplary services. 

The greatest benefit? According to a report, 72% of customers trust online reviews and testimonials more than anything else. So, a consistent chatbot service can encourage clients leave become loyal brand advocates, thereby boosting your company’s credibility. 

5. ESTABLISHES OMNICHANNEL PRESENCE

Forbes reckons, “a company is only as good as their customers perceive them to be,” which is true. Whether customers interact with your business via chatbot, website, social media pages, or client portal, a quick response is crucial. 

The reason? The average waiting time of customers when using live chat is only 88 seconds. This depicts you can lose valuable customers if you fail to address customer requests within a few minutes. 

Chatbots can be integrated into multiple communication platforms, including social media, websites, emails, messaging apps, and more. They work seamlessly on multiple communication platforms without human assistance. 

For instance, you can integrate chatbots with WhatsApp, which is GDPR-compliant and 100% secure. With a WhatsApp Chatbot platform, you can assist and engage clients in real-time. 

Observe the following example depicting chatbot integration in WhatsApp. Notice how chatbots can help logistics and transportation businesses engage clients on WhatsApp.

So, deploy chatbots to achieve an omnichannel presence.  

CHATBOTS ARE HERE TO STAY

96% of businesses agree chatbots are here to stay. As shared in the post, chatbots can help logistics and transportation businesses save on operational costs, streamline operations, track staff activities, and assist clients when they need them the most. 

With such a plethora of benefits, chatbots can prove to be a big asset for logistics businesses and their customers. So, if you run a logistics and transportation business, invest in chatbots to take your business to greater heights.

rate

Logistics Markets may be Turning, Possibly Violently

There are tentative signs that the intercontinental freight market is beginning to turn, possibly quite sharply.

The most recent evidence is from Cathay Pacific Cargo, which is reported to be briefing clients that this year’s peak season will not be as strong as usual. Admittedly this is heavily influenced by economic conditions in both China and Hong Kong, but it fits the mood music in much of the rest of the world.

Marine container freight spot rates on the trans-Pacific route have been falling for some time, although container shipping line results continue to reflect the strength of the contract-rate market segment. Crucially there are signs that congestion in container ports is improving rapidly. For example, at the once-troubled port of Los Angeles, the senior management claims that there has been a fall in the “backlog of ships almost 90%”. The port has again postponed the implementation of a ‘dwell fee’ on containers at terminals due to a “combined decline of 46% in ageing cargo on the docks”. The situation on East Coast container terminals appears to be improving similarly, and there are reports from European ports on the Hamburg-Le Havre range that congestion has also improved.

The potential of this decline in congestion to release shipping capacity onto the market is considerable, and it may already be playing a role in driving-down spot rates. If congestion continues to improve, it might dramatically affect rates, with the ‘blanking’ activity of container lines suggesting they are already aware of this.

As with the boom in demand seen in 2020-2021, much of the force behind these developments is associated with consumer behavior in the US. Admittedly the port of Los Angeles continues to see higher container through-put; however, shippers’ inventory management operations are more under control, enabling container, demurrage and warehousing systems to right themselves. As a result, major retailers have pursued significant inventory sell-offs and are cautious in their buying behavior, moving towards Christmas in the face of what looks like a recession. Obviously, this is informed both by energy price increases and higher inflation.

None of these factors on their own, either an operational improvement, muted US economic signals or continued instability in China, will drive falling rates, but they suggest a marked changed environment for logistics markets.

Download Ti’s Global Ocean Freight Rates Tracker for Q3 2022 for an in-depth look at the key data driving rate development in global ocean freight, covering major transpacific, transatlantic and Asia-Europe lanes.

refining

Oil Refining Pumps Market to Surpass USD 8.6 Billion by 2032

The global oil refining pumps market is estimated to be worth USD 6.2 billion in 2022 and is expected to exceed USD 8.6 billion by 2032, growing at a CAGR of 3.3 percent between 2022 and 2032.

In 2022, the global oil refining pumps market will account for 10% of the global industrial pumps market. During the assessment period of 2022-2032, the global oil refining pumps market is expected to have an absolute $ opportunity of USD 2.4 billion.

Manufacturers in the oil and gas industry are focusing on the process of innovation and digitalization, which results in cost-effective and profitable goods. New technology-integrated oil refining pumps are gaining popularity in oil refineries.

Smart oil refining pumps based on the Industrial Internet of Things (IIoT) that can collect data from devices, monitor pipe thickness, pressure, and flow rate, have sensors and monitoring software, and are energy-efficient are expected to increase market demand for oil refining pumps by 1.2X over the next few years.

Key Takeaways:

  • Middle East & Africa (MEA) oil refining pumps market currently holds 32.3% of the global market share.
  • Asia-Pacific oil refining pumps market is expected to grow at a CAGR of 3.3% by 2032.
  • By product type, centrifugal pumps to dominate the market with holding 36.1% market share.
  • Application of oil refining pumps for refinery process holds highest market share.

Growth Drivers:

  • The rising demand for oil is expected to drive the growth of the oil refining pumps market.
  • Rising global demand for crude oil has resulted in investments in oil refineries, propelling the market forward.

Key Restraints:

  • As global emissions levels rise, governments around the world are enacting strict emissions standards in the oil industry. This is hampering the oil refining pumps market.

Competitive Landscape:

Because of the presence of numerous domestic and regional players, the global oil refining pumps market is highly fragmented and competitive. Key players use a variety of marketing strategies, including mergers and acquisitions, expansions, collaborations, and partnerships.

In addition, leading companies use new product development as a strategic approach to increase their market presence among consumers. As a result of these strategies, advanced oil refining pumps have been incorporated.

In a recently published report, Fact.MR provided detailed information about the price points of top manufacturers of oil refining pumps market positioned across regions, sales growth, production capacity, and speculative technological expansion.

  • Weir Group was awarded a three-year contract to repair and service motors and pumps by a national oil company in the UAE in 2020.
  • In 2020, Alfa Laval was awarded a contract to supply Framo pumping systems for two Floating Production Storage and Offloading (FPSO) vessels, which include marine pumping systems for seawater and firewater lift service and operate outside of Brazil’s coast.
award

TT Club Innovation in Safety Award 2022 Opens for Entries

Following the successful re-introduction of the Award in 2021 with its record number of entries, the 2022 award will form the centerpiece of TT Club and ICHCA’s on-going efforts to encourage players in the freight transport and cargo handling sectors further in continuing to improve operational safety and efficiency through innovation.

ICHCA International, the global cargo handling association, launched the 2022 TT Club Innovation in Safety Award today inviting entrants to submit details of their innovations by 11 November 2022. The Award, which is open to an individual, team or company involved in cargo logistics, has seen the prestige associated with winning or being highly commended, grow year-on-year. Past winners have ranged from individual entrepreneurs and specialist suppliers to employee teams in major industry businesses. Entrants are required to show that a product, idea, solution, process, scheme or other innovation has resulted in a demonstrable improvement in safety.

Details of how to submit entries and of the judging criteria can be found here.

 Both ICHCA and TT Club have a fundamental commitment to risk reduction throughout the entire freight supply chain. Promoting safety advice and good practices is paramount to the philosophy of the two organizations and the Award reflects this commitment. As such, the Award and the consequent profiling of the innovations put forward by its enthusiastic entrants, is central to the twoglobal  organizations’ efforts to support continuous improvement in safety.

They will continue to provide opportunities to showcase winners and other entrants, organizing Safety Villages at industry forums and other live or virtual events. The range of the safety information and guidance documents these two organizations produce, from white papers to webinars and from advisories to checklists, can be found on their individual websites.

In past years, submissions to the Award program have ranged in focus from bulk cargo handling to securing containers and their cargoes; from safety reporting and education to the correct handling of dangerous materials; from environmental monitoring to fire detection and suppression. The 2021 Award went to VIKING Life-Saving Equipment A/S for its HydroPen system designed to fight onboard container fires. HydroPen has recently secured a major contract to supply the entire Maersk fleet, gaining traction to deliver global ship safety.

Those highly commended in this latest Award included PSA International for its video analytics solution to prevent in-terminal collisions and Cargotec’s innovation to inspect containers from below, effectively and safely identifying any damage and ensuring they are free of any invasive pests.

The Award ceremony will take place in February 2023 where the winners will be announced, those shortlisted will present their entries and innovation will be celebrated once more.

About ICHCA International

Established in 1952, ICHCA International is an independent, not-for-profit organization dedicated to improving the safety, productivity and efficiency of cargo handling and movement worldwide. ICHCA’s privileged NGO status enables it to represent its members, and the cargo handling industry at large, in front of national and international agencies and regulatory bodies, while its Technical Panel provides best practice advice and develops publications on a wide range of practical cargo handling issues.

Operating through a series of national and regional chapters, including ICHCA Australia, ICHCA Japan and plus Correspondence and Working Groups, ICHCA provides a focal point for informing, educating, lobbying and networking to improve knowledge and best practice across the cargo handling chain.

About TT Club

TT Club is the established market-leading independent provider of mutual insurance and related risk management services to the international transport and logistics industry. TT Club’s primary objective is to help make the industry safer and more secure. Founded in 1968, the Club has more than 1100 Members, spanning container owners and operators, ports and terminals, and logistics companies, working across maritime, road, rail, and air. TT Club is renowned for its high-quality service, in-depth industry knowledge and enduring Member loyalty. It retains more than 97% of its Members with a third of its entire membership having chosen to insure with the Club for 20 years or more.

E-commerce

5 Reasons Why E-Commerce Brands Need a 3PL Provider

Online shopping is a force to be reckoned with. Between 2019 and 2022, worldwide e-commerce grew from 15% to an estimated 22% of all retail sales. With e-commerce potentially exceeding $1 trillion by the end of 2022, online retailers are wondering how to stake their claim, make themselves truly competitive and continue to grow into new markets.

The answer may lie with third-party logistics (3PL) providers. E-commerce 3PL is a growing trend among online retailers looking to scale, keep themselves competitive, and insulate themselves against the current risks and upheavals in retail and logistics.

What Is E-Commerce 3PL?

Not every company has the same logistics needs, and consequently, not every 3PL offers the same service packages. The potential workflows and specializations brands might outsource to an e-commerce 3PL company include:

  • Order picking and fulfillment
  • Distribution and general logistics
  • Stowing, storage and warehousing (including cold-chain storage)
  • Transportation (including last-mile delivery)
  • Reverse logistics (for customer returns, warranty claims, etc.)

Companies should find a reliable partner to carry out some or all of these functions. Here are some other ways modern e-retail brands could dramatically improve their competitiveness, earnings and rate of innovation by turning to e-commerce 3PL providers.

1. It Promotes Innovation

Adopting 3PL services is increasingly a matter of competitiveness. One study showed that 89% of brands improved their operations’ effectiveness after signing on with a 3PL partner. In the same survey, 73% of adoptees said these services introduced innovations into their logistics processes.

3PL companies live, breathe and dream logistics. It stands to reason that these service providers have ideas and technologies to commit to logistics operations that brands don’t have since it’s not their core focus.

These partners provide value-adding innovations to logistics, but they also support innovation in other ways. Losing the burden of planning, building and supporting logistics infrastructure lets brands thrive thanks to a renewed focus on core objectives.

2. The Digital Economy Is Always On

There may be a learning curve for brands that transition from a solely brick-and-mortar existence to the world of e-commerce. Gone are customers filing in neatly during business hours. People can now shop anytime from any place and expect service that matches their timezone and lifestyle.

Third-party logistics often doesn’t sleep, either. A 3PL company can do the work brands can’t do during hours when teams are working on expanding and innovating or after regular business hours.

If the digital economy never sleeps, logistics infrastructure can’t afford to blink, either.

3. Brands Need an Omnichannel Approach

One of the reasons for having this conversation at all is the sheer diversification of the e-commerce world. Manufacturers and retailers could get by with one-size-fits-all logistics systems in the years of shopping exclusively in brick-and-mortar shops. They could afford to be rigid in their approach because there was a limited number of points of sale and minimal potential touchpoints with consumers.

The internet has rendered this model archaic. The consumer experience is now omnichannel, meaning e-commerce brands need logistics support that meets customers wherever they are, no matter the channel they use to do their shopping.

3PL companies can provide the required technologies and segmented approach, including support for diversification in service levels — like various shipping speeds or subscription-based models.

4. Ensure the Ability to Scale and Pivot

One of the reasons why 3PL is a perfect fit for e-commerce is because retail is diverse, dynamic and sometimes unpredictable. Retailers and online brands may find their audience, inventory or geographic markets changing rapidly and often. What better way to insulate one’s brand against these paroxysms than to outsource the processes most likely to be affected by them — fulfillment and logistics?

The transportation, logistics and warehousing systems used by 3PL companies are created from the bottom up for diverse clientele. They are designed to be flexible and meet various and ever-changing needs.

Diversifying and strategizing the placement of available inventory is another closely related benefit of e-commerce 3PLs. Brands can rapidly expand their footprint — and potential clientele — by leveraging existing warehouse execution systems, strategic locations, data centers and support facilities, and other infrastructure elements.

5. Minimize Financial Outlays for New Technology

The worldwide e-commerce fulfillment services and technologies market was worth $18.6 billion in 2020 and is expected to grow by almost 10% per year between 2022 and 2030. One of the reasons for the rapid expansion in this sector is the equally rapid proliferation of new fulfillment technologies.

Newer e-commerce brands that want to credibly do business with more mature companies must leverage emerging technologies. This includes automated order picking, collaborative robots, advanced software for organizing and prioritizing customer orders, and perhaps fleet-tracking technology for monitoring freight and managing dock traffic.

All these technologies require e-commerce brands to invest time and money. Hiring an e-commerce 3PL company with access to cutting-edge fulfillment technologies could be a savvy move that saves finances and effort over time.

Is E-Commerce 3PL the Right Choice?

There may be many other reasons to choose 3PL solutions that might be more relevant to a company’s brand, products and business model. For example, someone considering offering refrigerated or frozen products for home delivery may want to build their own cold-chain storage infrastructure or purchase access to mature, scalable infrastructure instead.

Companies must put themselves in consumers’ shoes, too. The biggest names in retail and e-commerce have set high expectations for order fulfillment. Some customers expect certain purchases to arrive in two days or less as an industry standard. Businesses should ensure they’re materially prepared to answer the call of the market but they don’t necessarily have to own the materials that make that possible.

Companies must create and ship the best products in the industry. It’s not necessarily in their knowledge base to deliver lightning-fast delivery, on top of all their other responsibilities. Brands that commit to building and maintaining their own warehousing, logistics and fulfillment systems are diluting their efforts and taking focus from their core offerings.

However, those are exactly the sorts of things 3PL partners can add to a value chain, leaving companies to focus their innovative energies where they’re needed.

 

costa carriers maersk LF

Maersk Completes $3.6 Billion Acquisition of LF Logistics

Maersk has announced the completion of its acquisition of LF Logistics, a Hong Kong-based contract logistics company.

LF Logistics offers capabilities within omnichannel fulfilment services, e-commerce, and inland transport in the Asia-Pacific region.

As consequence, LF Logistics will be rebranded to Maersk.

Following the acquisition, Maersk will add 223 warehouses to the existing portfolio, bringing the total number of facilities to 549 globally, spread across a total of 9.5 million square meters.

“I am thrilled to welcome LF Logistics to Maersk. Maersk in Asia has historically been primarily focused on ocean transportation out of Asia and related logistics services,” said Ditlev Blicher, Regional Managing Director of Asia Pacific at A.P. Moller – Maersk.

“With the addition of LF Logistics, Maersk gains unique and best in class capabilities to servicing the important and fast-growing consumer markets in Asia. Furthermore, LF Logistics expertise in omnichannel fulfilment positions us well with the global e-commerce market.”

LF Logistics employs 10,000 people.

READ: Maersk kicks off construction of green warehouse in Denmark

The firm specialises in B2B and B2C distribution solutions within retail, wholesale, and e-commerce, and a strong base for Maersk to expand within Asia-Pacific and globally.

“LF Logistics has an enviable track record of profitable growth in the region for more than two decades. Maersk’s global presence provides an ideal platform for our next phase of organizational expansion and development,” said Joseph Phi, Group CEO of Li & Fung and CEO of LF Logistics.

The value of the transaction is $3.6 billion (enterprise value) post-IFRS 16 lease liabilities. It is expected that revenue and EBITDA in the in-country logistics business will more than double by the end of 2026.

As part of the transaction to acquire LF Logistics, Maersk has entered a strategic partnership with Li & Fung to develop a comprehensive range of end-to-end global supply chain services with Li & Fung focusing on the upstream supply chain and Maersk focusing on the downstream supply chain.

Earlier this week, APM Terminals (APMT), part Maersk, announced it will divest its minority stake in Russian container terminal operator Global Ports Investments PLC (GPI).