New Articles

Long-Term Growth of Mango And Mangosteen Market in the U.S. Is Losing Momentum

mango

Long-Term Growth of Mango And Mangosteen Market in the U.S. Is Losing Momentum

IndexBox has just published a new report: ‘U.S. – Mangoes, Mangosteens And Guavas – Market Analysis, Forecast, Size, Trends and Insights’. Here is a summary of the report’s key findings.

The revenue of the mango and mangosteen market in the U.S. amounted to $558M in 2018. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers’ margins, which will be included in the final consumer price). Over the period under review, mango and mangosteen consumption continues to indicate a strong increase. Over the period under review, the mango and mangosteen market attained its peak figure level in 2018 and is expected to retain its growth in the near future.

Market Forecast 2019-2025 in the U.S.

Driven by increasing demand for mango and mangosteen in the U.S., largely supported by rising Hispanic population, the market is expected to continue an upward consumption trend over the next seven years. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +2.9% for the seven-year period from 2018 to 2025, which is projected to bring the market volume to 579K tonnes by the end of 2025.

Production in the U.S.

Mango and mangosteen production in the U.S. amounted to 930 tonnes in 2018, declining by -7.5% against the previous year. Overall, mango and mangosteen production continues to indicate an abrupt contraction, as mangoes are not cultivated largely across the U.S., and mango imports are widely available.

Harvested Area And Yield in the U.S.

In 2018, the total area harvested in terms of mangoes, mangosteens and guavas production in the U.S. stood at 53 ha, falling by -18.5% against the previous year. Average yield of mangoes, mangosteens and guavas in the U.S. amounted to 18 tonne per ha in 2018, jumping by 13% against the previous year.

Exports from the U.S.

In 2018, the mango and mangosteen exports from the U.S. stood at 27K tonnes, declining by -4.7% against the previous year. Overall, mango and mangosteen exports, however, continue to indicate a buoyant expansion. The most prominent rate of growth was recorded in 2011 when exports increased by 35% y-o-y. Exports peaked at 31K tonnes in 2015; however, from 2016 to 2018, exports failed to regain their momentum. In value terms, mango and mangosteen exports totaled $40M (IndexBox estimates) in 2018.

Exports by Country

Canada (15K tonnes) was the main destination for mango and mangosteen exports from the U.S., accounting for a 55% share of total exports. Moreover, mango and mangosteen exports to Canada exceeded the volume sent to the second major destination, the UK (2.4K tonnes), sixfold. The third position in this ranking was occupied by Germany (2.4K tonnes), with a 8.8% share.

From 2007 to 2018, the average annual growth rate of volume to Canada amounted to +7.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (+2.4% per year) and Germany (+11.3% per year).

In value terms, Canada ($21M) remains the key foreign market for mango and mangosteen exports from the U.S., comprising 53% of total mango and mangosteen exports. The second position in the ranking was occupied by Germany ($5.3M), with a 13% share of total exports. It was followed by Mexico, with a 7.6% share.

Export Prices by Country

The average mango and mangosteen export price stood at $1,502 per tonne in 2018, increasing by 2.5% against the previous year. Over the last eleven years, it increased at an average annual rate of +2.1%. The growth pace was the most rapid in 2017 an increase of 14% year-to-year. The export price peaked in 2018 and is likely to continue its growth in the immediate term.

There were significant differences in the average prices for the major foreign markets. In 2018, the country with the highest price was Germany ($2,259 per tonne), while the average price for exports to the UK ($1,140 per tonne) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was recorded for supplies to Germany, while the prices for the other major destinations experienced more modest paces of growth.

Imports into the U.S.

In 2018, the mango and mangosteen imports into the U.S. stood at 500K tonnes, stabilizing at the previous year. Over the period under review, the total imports indicated a prominent increase from 2007 to 2018: its volume increased at an average annual rate of +4.6% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Imports peaked in 2018 and are expected to retain its growth in the near future. In value terms, mango and mangosteen imports amounted to $637M (IndexBox estimates) in 2018.

Imports by Country

In 2018, Mexico (311K tonnes) constituted the largest mango and mangosteen supplier to the U.S., with a 62% share of total imports. Moreover, mango and mangosteen imports from Mexico exceeded the figures recorded by the second-largest supplier, Peru (50K tonnes), sixfold. Ecuador (49K tonnes) ranked third in terms of total imports with a 9.7% share.

From 2007 to 2018, the average annual rate of growth in terms of volume from Mexico stood at +5.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Peru (+5.6% per year) and Ecuador (+4.7% per year).

In value terms, Mexico ($380M) constituted the largest supplier of mango and mangosteen to the U.S., comprising 60% of total mango and mangosteen imports. The second position in the ranking was occupied by Peru ($61M), with a 9.5% share of total imports. It was followed by the Philippines, with a 7% share.

Import Prices by Country

The average mango and mangosteen import price stood at $1,273 per tonne in 2018, going up by 17% against the previous year. In general, the mango and mangosteen import price continues to indicate perceptible growth.

There were significant differences in the average prices amongst the major supplying countries. In 2018, the country with the highest price was Thailand ($2,892 per tonne), while the price for Ecuador ($862 per tonne) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by Mexico, while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox AI Platform

climate change

Businesses Must Adjust To Climate Change; 5 Ways Toward Sustainability

As climate change causes worldwide concern and prompts calls for governmental action, consumers are putting the onus on businesses to step up their sustainability standards and practices.

A Nielsen survey, for example, showed that 81 percent of global consumers feel companies should help improve the environment. And with governments across the globe struggling to reach an international consensus on climate change, close observers of business and the environment, along with a high number of CEOs, agree: Private industry should take the lead in driving sustainability.

“Some forward-looking companies are seeing it’s an issue they can no longer ignore, morally and economically, and that you can go green and succeed in business,” says Hitendra Chaturvedi (www.hitendrachaturvedi.com), a professor at the Supply Chain Department of W.P. Carey School of Business at Arizona State University and expert on global supply chain sustainability and strategy.

“Business strategies must include sustainability in their core beliefs and practices. Part of the problem is that they are missing the simple, sensible ways that can drive sustainability and bring a return on investment at the same time.”

Chaturvedi suggests the following ways businesses can exercise sustainability practices to help fight climate change and connect with consumers:

Find the facts. “When a package gets delivered to you by an online commerce company, most people see the packaging as mainly contributing to the pollution, but that is not the case,” Chaturvedi says. “The packaging contributes less than 5%, but the main culprit is the returned/defective item which accounts for close to 50% of the pollution because it is not properly disposed of. I call it sensible sustainability. Identify and focus on low-hanging fruits.”

Seek education. “Finding the facts brings an important issue – education of consumers,” Chaturvedi says. “I see too many data points floating around that are put forth to create hysteria and are flat-out wrong, causing well-intentioned people to be waylaid in unproductive directions. Too many times this causes even a well-wisher of the environment to lose interest. We need a proper way to educate consumers about what is real and what is fake news.”

Implement business model changes. “Look at your business model holistically,” Chaturvedi says. “I propose a 5R model that simply, sensibly, and holistically integrates forward and reverses supply chain within any organization to ensure reduction in waste – and without sacrificing profits or competitiveness.”

Embrace technology. “It will lead to quick solutions to many vexing sustainability problems,” Chaturvedi says. “For example, advancement in technology has given us economically viable micro-factories to processing plastic waste, something that was not possible a few years ago. Now we can package it into a business model and scale it. Technologies like blockchain and dendrites will have far-reaching effects on sustainability as they will drive tracking and accountability.”

Find sensible solutions. “Sustainability needs sensible solutions, not a panacea, not motherhood and apple pie solutions,” Chaturvedi says. “We need solutions that are practical and profitable. We see many solutions that promise to solve the world’s pollution problem but are either one-off, or do not make money or both. We need businesses to step in and partner with scientists, universities, and government so a practical/viable perspective can be applied to sustainability solutions. A business will bring that perspective along with what can scale and what can not.”

“Businesses can see significant benefits, both economically and socially, from incorporating sustainable practices,” Chaturvedi says. “Some of the steps you incorporate can seem small at first, but day by day those efforts will produce great results.”

___________________________________________________________________

Hitendra Chaturvedi spent over 30 years in progressive technology leadership positions with Microsoft, Newgistics, E&Y e-Business and A.T. Kearney. Chaturvedi also built a $100 million software company in India, GreenDust, where he implemented proprietary reverse logistics software at Amazon, Flipkart (Walmart), Samsung, Panasonic and Whirlpool. A computer engineer with a master’s degree from Louisiana State University and an MBA from Southern Methodist University, Chaturvedi has been widely covered in the media and is a subject matter expert on global supply chain strategy, sustainability in supply chain, reverse logistics, ecommerce, artificial intelligence and machine learning. Now a professor at Arizona State University, Chaturvedi has been a visiting professor at Southern Methodist University, University of Texas-Dallas, Penn State and Purdue.

skills

Lifelong Learning: Enhancing Your Supply Chain Skill Set at Any Age

Even the most seasoned supply chain professional will tell you they can always learn a little bit more about their field. Whether it’s mastering a new software program or simply brushing up on your business skills, the more you learn the better you can invest that education into growing your business.

Work experience will only get you so far. That’s where supply chain education programs come into the picture. From degree programs at top-tier universities to certificates at trade schools and distance learning facilities, today there are more continuing education options than ever before.

If you are considering returning to school to brush up on or better hone your supply chain education skills, or even looking to recruit new employees with the most cutting-edge education, check out these programs, and get some ideas about what to look for when searching for a supply chain education program.

TRAINING AND CERTIFICATION PROGRAMS

A training or certificate program can boost your skills and resume without the heavy investment in a degree program. They also generally take less time to complete than degree programs, but they may not carry as much weight as degree programs would, either. Still, they provide valuable education and insight into many specific aspects of supply chain, and those skills can still be very useful to your business. Check out:

Northwestern University-Kellogg Executive Education. This program at Northwestern University’s Kellogg School of Management runs just three days and offers executive training on transportation, outsourcing, facilities management, inventory and more. It gives students a further peek into the latest supply chain technologies and techniques to help them keep running their businesses in a way that works for today and the future.

American Production and Inventory Control Society (APICS). A professional supply chain organization with its own certification program, APICS is open to Association of Supply Chain Management (ASCM) members as well as non-members. The program offers students strategies to level up their skills, earn the APICS certification and do so without the time investment of a major degree.

DEGREE PROGRAMS

Though they require significant time and often a significant financial investment, degree programs not only provide valuable education, but they also pad your resume so you can carry the education with you should you ever transfer jobs. Degree programs can also help improve your salary and position at your current job. Here are some of the top supply chain higher education programs in the country.

Michigan State University. Ranked No. 1 in supply chain and logistics management programs by U.S. News & World Report for three years running, Michigan State’s full-time MBA program covers everything from supply-chain management to logistics systems and technology. The program offers certificates ranging from Master to Advanced Master in topics such as global supply chain management and integrated supply chain management. Many other MSU-specific certificate options are also available.

Massachusetts Institute of Technology (MIT). The supply chain management program at MIT in Cambridge, Massachusetts, is the No. 2 ranked program by U.S. News & World Report, which also places MIT’s business school at No. 3 overall. Meanwhile, Eduniversal ranks MIT’s supply-chain program the No. 1 program of its kind in the world. The MIT program will earn you your master’s in supply-chain management in just 10 months. The program covers all aspects of supply-chain management, and the school is the founding member of the MIT Global Supply Chain and Logistics Excellence Network (SCALE), an organization that allows for collaboration between students, faculty, researchers and industry experts. The SCALE program was designed to promote new research, processes and technologies for the betterment of the industry.

UNDERGRAD AND HIGH SCHOOL PROGRAMS

Whether you’re in a professional setting and never got a complete supply-chain education, you’re looking for programs for someone else, or you’re trying to recruit new supply chain graduates, undergraduate and high school or vocational supply chain programs are excellent resources. These programs are often taught by industry insiders and have access to some of the newest technology and techniques, giving program graduates an up-to-date education in the supply-chain industry. Also, because they are focused on supply chain and generally nothing else, these programs can be completed faster than traditional college degree programs, which means less time waiting for the right candidate.

Rutgers University. The Supply Chain Education Partnership at Rutgers in Newark, New Jersey, is a comprehensive program for high school students who would like a career in supply-chain management. Though the program is just one week long, it covers a great deal of information, including business logistics, global procurement and sourcing as well as information technology systems and systems, applications and products (SAP). Open to local students, the program is designed to introduce students to the world of supply-chain management and hopefully attract them to the field as a university major and future professional.

Other vocational/high school programs. Many high school programs offer hands-on training through classes, vocational school and internships to help train the younger generation in all facets of supply-chain management. For some, these programs may be enough of a baseline education to be hired straight out of school without needing a degree; for others the classes may pique an interest in the field and help students determine their college major. Check your local school district for schools that may offer these programs.

ONLINE CLASSES

Online classes allow students to attend a supply chain education program from anywhere in the world, which is especially helpful when no such program exists at your local university. Many prestigious universities offer online classes, so there is no need to miss out on a top-quality education simply due to geography.

University of Texas, Dallas. The university boasts of a distance learning master’s program that includes supply chain management courses at both the undergraduate and graduate levels. However, the distance learning program also makes it easy for busy professionals to get a world-class education without having to live in the Dallas-Fort Worth area. The comprehensive program covers every facet of the supply-chain industry, including management, operations and quality of service and goods.

With so much changing in the supply-chain industry, there’s only so much you can learn by doing things one way, whether it be reading textbooks, attending webinars and lectures, or simply working in the field. Both education and hands-on experience in the supply-chain industry are necessary for comprehensive mastery. From the highest person at the executive level to middle management or the newest worker on the warehouse floor, a combination of skills from all ends of the spectrum are invaluable keys to your supply-chain education—and to the success of your business.

meat market

China Leads the Expansion of Lamb And Sheep Meat Market in Asia-Pacific

IndexBox has just published a new report: ‘Asia-Pacific – Lamb And Sheep Meat – Market Analysis, Forecast, Size, Trends and Insights’. Here is a summary of the report’s key findings.

The revenue of the lamb and sheep meat market in Asia-Pacific amounted to $26B in 2018, increasing by 2.2% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers’ margins, which will be included in the final consumer price). The total market indicated a prominent increase from 2007 to 2018: its value increased at an average annual rate of +1.1% over the last eleven-year period. The level of lamb and sheep meat consumption peaked in 2018 and is likely to see steady growth in the immediate term.

Consumption By Country in Asia-Pacific

The country with the largest volume of lamb and sheep meat consumption was China (2.7M tonnes), accounting for 73% of total volume. Moreover, lamb and sheep meat consumption in China exceeded the figures recorded by the second-largest consumer, Australia (250K tonnes), more than tenfold. The third position in this ranking was occupied by India (207K tonnes), with a 5.6% share.

From 2007 to 2018, the average annual growth rate of volume in China amounted to +2.3%. In the other countries, the average annual rates were as follows: Australia (-3.0% per year) and India (-1.9% per year).

In value terms, China ($20.1B) led the market, alone. The second position in the ranking was occupied by Australia ($1.4B). It was followed by India.

In 2018, the highest levels of lamb and sheep meat per capita consumption was registered in Australia (10,056 kg per 1000 persons), followed by Afghanistan (3,272 kg per 1000 persons), China (1,861 kg per 1000 persons) and Pakistan (859 kg per 1000 persons), while the average per capita consumption of lamb and sheep meat in the region was estimated at 886 kg per 1000 persons.

Market Forecast 2019-2025 in Asia-Pacific

Driven by increasing demand for lamb and sheep meat in Asia-Pacific, the market is expected to continue an upward consumption trend over the next seven years. Market performance is forecast to retain its current trend pattern, expanding with an anticipated CAGR of +1.4% for the seven-year period from 2018 to 2025, which is projected to bring the market volume to 4.1M tonnes by the end of 2025.

Production in Asia-Pacific

The lamb and sheep meat production totaled 4.1M tonnes in 2018, flattening at the previous year. Over the period under review, lamb and sheep meat production continues to indicate a relatively flat trend pattern.

Production By Country in Asia-Pacific

China (2.4M tonnes) constituted the country with the largest volume of lamb and sheep meat production, accounting for 58% of total volume. Lamb and sheep meat production in China exceeded the figures of Australia (668K tonnes), fourfold. The third position in this ranking was occupied by New Zealand (440K tonnes), with a 11% share.

From 2007 to 2018, the average annual growth rate of volume in China amounted to +1.4%. The remaining producing countries recorded the following average annual rates of production growth: Australia (-0.2% per year) and New Zealand (-2.5% per year).

Producing Animals and Yield in Asia-Pacific

In 2018, approx. 245M heads of animals slaughtered for lamb and sheep meat production in Asia-Pacific; remaining constant against the previous year. The average lamb and sheep meat yield totaled 17 kg per head in 2018, flattening at the previous year. In general, the lamb and sheep meat yield continues to indicate a relatively flat trend pattern.

Exports in Asia-Pacific

In 2018, the amount of lamb and sheep meat exported in Asia-Pacific totaled 858K tonnes. Over the period under review, lamb and sheep meat exports continue to indicate a relatively flat trend pattern. In value terms, lamb and sheep meat exports stood at $5.3B (IndexBox estimates) in 2018.

Exports by Country

Australia (419K tonnes) and New Zealand (408K tonnes) dominates lamb and sheep meat exports structure, together mixing up 96% of total exports. India (25K tonnes) held a relatively small share of total exports.

In value terms, the largest lamb and sheep meat exporters in Asia-Pacific were also New Zealand ($2.6B), Australia ($2.5B) and India ($145M), with a combined 99% share of total exports. In terms of the main exporting countries, India experienced the highest growth rate of market size, over the period under review, while exports for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2018, the lamb and sheep meat export price in Asia-Pacific amounted to $6,169 per tonne, picking up by 8.9% against the previous year. The export price indicated a buoyant expansion from 2007 to 2018: its price increased at an average annual rate of +4.8% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the export prices for lamb and sheep meat reached their peak figure at $6,336 per tonne in 2011; however, from 2012 to 2018, export prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major exporting countries. In 2018, the country with the highest price was New Zealand ($6,458 per tonne), while India ($5,784 per tonne) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by Australia, while the other leaders experienced more modest paces of growth.

Imports in Asia-Pacific

In 2018, the lamb and sheep meat imports in Asia-Pacific amounted to 443K tonnes, surging by 12% against the previous year. Over the period under review, lamb and sheep meat imports continue to indicate a prominent increase, driven by rising supplies to China. Over the period under review, lamb and sheep meat imports reached their peak figure in 2018 and are expected to retain its growth in the immediate term. In value terms, lamb and sheep meat imports totaled $1.8B (IndexBox estimates) in 2018.

Imports by Country

China dominates lamb and sheep meat imports structure, reaching 282K tonnes, which was approx. 64% of total imports in 2018. Malaysia (36K tonnes) took an 8.1% share (based on tonnes) of total imports, which put it in second place, followed by Japan (5.8%). The following importers – Singapore (19K tonnes), Taiwan, Chinese (19K tonnes), South Korea (16K tonnes), Papua New Guinea (12K tonnes) and China, Hong Kong SAR (7.8K tonnes) – together made up 17% of total imports.

China was also the fastest-growing in terms of the lamb and sheep meat imports, with a CAGR of +16.8% from 2007 to 2018. At the same time, South Korea (+14.4%), Malaysia (+6.6%), Singapore (+6.4%), China, Hong Kong SAR (+1.1%) and Japan (+1.0%) also displayed positive paces of growth. Taiwan, meanwhile, experienced a relatively flat trend pattern. By contrast, Papua New Guinea (-7.0%) illustrated a downward trend over the same period.

In value terms, China ($884M) constitutes the largest market for imported lamb and sheep meat in Asia-Pacific, comprising 48% of total lamb and sheep meat imports. The second position in the ranking was occupied by Japan ($204M), with a 11% share of total imports. It was followed by Malaysia, with a 9.7% share.

Import Prices by Country

In 2018, the lamb and sheep meat import price in Asia-Pacific amounted to $4,157 per tonne, coming down by -3.3% against the previous year.

There were significant differences in the average prices amongst the major importing countries. In 2018, the country with the highest price was South Korea ($8,067 per tonne), while China ($3,132 per tonne) was amongst the lowest.

Source: IndexBox AI Platform

Porsche

Porsche & DB Schenker Move Forward with Third PDC Collaboration

DB Schenker Canada has been confirmed as the official operator for Porsche’s Mississauga, Ontario-based parts distribution center, representing the logistics company’s third parts distribution centre (PDC) collaboration with the automaker. The collaboration confirms an overall reduction in parts lead time as Porsche previously received their spare parts and lifestyle goods from U.S.-based PDCs.

“The faster we can do repairs and get our customers’ cars back on the road again, the better,” says George Fremis, Manager, Parts Operations & Logistics, Porsche Cars Canada, Ltd. “DB Schenker understands that mentality and our brand. That’s why they were a great fit for this new facility.”

DB Schenker Canada will provide support in the parts storage and inventory management, picking and packing, and final destination dispatch in Canadian regions. Reports confirmed the logistics company will operate 140,000 square feet of the facility’s 176,000 square feet. The remaining space will be utilized for a national training center, test vehicle storage, with talks of a“Porsche Classic Café” for hosting customers and highlighting the Porsche brand’s innovations.

Porsche is no stranger to partnerships with DB Schenker, however. The automaker is currently collaborating with the leading logistics company in China and South Korea. DB Schenker’s leading expertise and broad range of capabilities, specifically in automotive logistics is credited for the ongoing collaborations and confidence between the companies.

“DB Schenker presented the PDC solution that was comprehensive and that made the most sense for us,” Fremis said.

“They understood the service levels that we needed to achieve, and even brought in the project manager from the Porsche South Korea implementation to support our project,” he added.

“Our team in Canada is thrilled to be part of Porsche’s growing global network. We recognize our role as a crucial link to improve the “Driver Experience” by delivering world-class service. Ultimately, we intend to deliver on our mission to become our clients most trusted and valued supply chain partner.” says Brad
Samson, Site Manager DB Schenker Canada.

palm oil

Palm Oil Market Size to Reach $147.59 Billion by 2026 | CAGR: 6.7%

The global palm oil market is anticipated to reach USD 147.59 billion by 2026 according to a new study published by Polaris Market Research. Palm oil is a versatile and important raw material for food, personal care, and other commodity products.

The volatility in crude prices, comparatively high hydrocarbon fuel prices along with strong efforts globally to reduce greenhouse gas emissions, demand for biofuels from the transport sector have significantly increased. This is mainly owing to palm oil’s competitiveness in productivity and prices. Rising demand for organic food products, cosmetics, detergents, and other natural ingredient rich or derived commodities, the popularity of palm and palm kernel oil have increased exponentially over the past decade.

The significant increase in output of the product was mostly influenced by the continued global expansion of planted areas of oil palm. The fact became more apparent when oil palm was featured and considered as a crucial socio-economic harvest in most of its producing countries. The rising market of the product in the worldwide oils & fats industry has been accomplished by leveraging its techno-economic advantages compared with the other vegetable oils along with some of the other developments in respect to the environment, health, and security of supply globally. These positive factors and developments associated with the product will continue influencing its dominant role globally in the fats & oils demand and supply equation.

Palm oil offers the maximum output value in comparison to other major oilseed crops, such as soya bean, rapeseed, and sunflower. Indeed, the overall annual value per hectare for the product at USD 1135 is highly remunerative than the rapeseed at USD 696, soya bean at USD 543 and sunflower at USD 334. Therefore, in a market space in most nations, where the agricultural or farming land has been shrinking with increasing urbanization owing to industrialization, which is also coupled with the most important fact that inside the agricultural industry oilseeds compete with different grains for larger arable land available, cultivation of oil palm seems to be the most obvious and potential option to satisfy the needs growing oils & fats globally.

Some of the leading industry participants include Wilmar International, Univanich Palm Oil Public Company Limited, United Palm Oil Industry Public Company Limited,, Sime Darby Plantations, Siat Group of Companies, PT Indofood Sukses Makmur Tbk, PT Astra Agro Lestari Tbk, Musim Mas Group, MM VitaOils Sdn Bhd,, Kuala Lumpur Kepong Berhad, Kempas Edible Oil Sendirian Berhad, IOI Group, Intercontinental Specialty Fats,  Golden Agri Resources Ltd,  Genting Plantations, Fuji Vegetable Oils Inc, Dekel Oil, Carotino Group, California Oil Corp, Boustead Group, Alami Group,  and ADM.

View For More Information about palm oil market @  https://www.polarismarketresearch.com/industry-analysis/palm-oil-market/request-for-sample

logistics

Global Trade’s Annual Logistics Planning Guide Reveals the Year’s Top Trends

Sometimes buying your business into the latest trends isn’t the best idea. Saddled with high costs and incompatible programs, trendy new technology can often make business processes more difficult for your business, not less. But there are some industries where the latest really can be the greatest, and one of those industries is the logistics industry.

Let’s face it: Logistics make the world go round. Whether it’s shipping perishables to community markets or lifesaving machinery to medical clinics, there’s a lot riding on the shoulders of logistics providers. That’s why it often pays to rely on cutting-edge technology. From tracking and tracing to locating items in your warehouse, new technology can often get the job done faster and more accurately. Plus, with the growing e-commerce market, logistics is more important than ever before as businesses push to get their products into customers’ hands at the speed of retailers such as Amazon.

So, what’s on the horizon for the logistics industry this coming year? Here’s what’s on our radar—and should be on yours—for the best (and one troublesome) new innovations and trends in logistics in 2020.

LOGISTICS IT

When it comes to logistics, information technology (IT) may arguably be the most important innovation of 2020. That’s because without a solid tracking system in place you’re not only causing potential backlogs for your workers, but you could be causing frustration for your clients, too. After all, if your customer can’t see where their merchandise is in the supply chain, they may bring their business to someone else who can. This is where an excellent Warehouse Management System (WMS) comes in. Using RFID and GPS, warehouse management systems can now monitor and trace every piece of inventory in your warehouse, providing real-time data to both you and your customer.

Other systems expected to be used with increased frequency in the new year include order entry systems and transportation management systems (TMS).

But logistics IT isn’t just what the customer sees, or even what your employees interact with. It goes well beyond that. Logistics IT also encompasses the back end of your IT solutions—not just the IT product itself but also the customer support that goes along with it.

We all know the logistics industry doesn’t just run from nine to five. When there’s a problem like a software bug or outage, is your IT provider available to offer technical support when you need it? Does your provider strive to make software updates that are meaningful to your business, and that integrate seamlessly into your other systems? Does your provider notify you when there are new versions of your system that could benefit your business? These are all signs of a good IT provider—a trend you definitely don’t want to miss the boat (or train, plane or truck!) on.

Logistics providers are using the latest technology, such as Collaborative Planning, Forecasting and Replenishment (CPFR) and Vendor Managed Inventory (VMI), to satisfy ever-changing customer requirements. DHL Express introduced a fresh TC55 technology that works on the Android platform and is simple to use, as well as the navigation skills in the global positioning system (GPS).

ARTIFICIAL INTELLIGENCE AND MACHINE LEARNING

Artificial intelligence, or AI, is another way technology is streamlining the logistics industry. Currently, the biggest benefit of AI is arguably its ability to automate many of the processes logistics providers provide every day, including repetitive tasks that exhaust human capital and don’t challenge workers. Though many workers worry that AI will someday replace human workers, currently the technology is actually assisting them.

Another use for AI in the logistics industry relates to the driving of vehicles. As many are aware, initiatives from companies like Google have in recent years invested time and resources into developing self-driving cars, i.e. autonomous vehicles. These vehicles may be manned by a human driver, but they allow the driver to take breaks from driving while still traveling. This in turn gets deliveries to their destinations quicker, a fact that is projected to save logistics providers a lot of money. In fact, according to Mckinsey, autonomous vehicles could save logistics providers up to 45 percent, a savings providers can then pass along to their clients. These savings could then be passed to the consumer in the form of lower prices or lower shipping rates.

ENVIRONMENTALLY CONSCIOUS LOGISTICS

With many seaports developing green initiatives and land- and air-based logistics providers initiating a greater push for a reduced carbon footprint, 2020 is set to be a big year for reducing carbon emissions. Some land-based initiatives include more efficient route mapping, video conferencing and net-zero emissions.

Route mapping works by eliminating excess travel on longer routes. The idea is that a more direct route cuts fuel waste as well as carbon emissions. Video conferencing saves both money and the need for travel to meetings. As for net zero emissions, many logistics providers are investing in low or zero-emission vehicles and alternative fuels that emit less carbon into the air.

Logistics companies with warehousing services are also increasing their push toward a lower carbon footprint, using sustainable packaging and ramping up recycling efforts with the packing, shipping and packaging of products.

Maritime initiatives include the restoration and protection of wetlands as well as the planting of trees at some ports. Strategies also include the use of more efficient photosensitive lighting, such as the switch to LED lighting. Some ports have even switched over to the use of electric equipment instead of diesel fuel equipment, the establishment of fuel efficient requirements for ships which frequent the port and much more.

BLOCKCHAIN

If you’re in the logistics world, you’ve likely been hearing about blockchain for several years now. But what is it? Simply put, blockchain is a way of recording data which cannot be altered, using a technology called cryptology. Blockchain data is nearly unchangeable. The “chain” in blockchain refers to the chain of messages that originate from a single entry. To edit the chain, all members who posted to the chain must be willing to alter their own data to support the potentially edited data. This reduces the risk of that data being falsified or otherwise compromised along the way.

Blockchain data can be used to do everything from order tracking to payment issues. Blockchain also streamlines the way we communicate, reducing the need for time-consuming paperwork. Blockchain works in real-time, so shippers can trace every detail of their shipment as it progresses and make necessary adjustments to their route and load temperatures as needed. This can save time and money, preventing delays or rejected shipments.

Blockchain can also aid in financial decisions regarding fleet vehicles. Similar to a Carfax report, blockchain can show whether a pre-owned logistics vehicle has been maintained as well as the previous owner claims, and can help the potential buyer make decisions that could cost them—or save them—significantly down both the literal and figurative roads.

Indeed, blockchain has become so big that an organization has been founded to monitor the industry. The Blockchain in Transport Alliance, or BiTa, was founded to help advance the Bitchain industry, developing rules and regulations and providing education for new and veteran Bitchain users. The organization already boasts an impressive member list, including representatives of UPS and FedEx.

TECHNOMAX

In the maritime sector of the logistics industry, one revolutionary service that is “making waves” is TechnoMax, or TMX. TechnoMax works to streamline maritime operations by working with AI and the Internet of Things (IoT). The system provides risk and compliance data, app development, infrastructure development and data management. Some of TechnoMax’s capabilities include monitoring a ship’s emissions, analyzing cargo information and guiding navigation.

TRADE TARIFFS

Now for some bad news. With trade deals between the United States and China again delayed, there remains a lot of uncertainty among retailers and manufacturers. Though there is no crystal ball to predict the future or what it holds for these industries, the potential for raised prices on goods is of big concern. Price increases would inevitably be passed down to consumers, who could cut out or cut back on goods, causing sales to plummet. This could in turn negatively impact the logistics industry, as fewer products will be warehoused and transported.

For now, the industry seems to be holding its own, with some businesses preparing for the looming tariffs by shipping larger amounts now to avoid elevated costs later. Whether this bulking up will cause a dramatic drop in shipments in the first few months of 2020 remains to be seen.

LOOKING TO THE FUTURE

All things considered, 2020 seems to be gearing up to be a great year for the logistics industry, with many new technological and environmental advances on the horizon. From AI to blockchain, the industry is poised to become more efficient than ever, saving providers money which they can pass along to their clients, and in turn potentially to the consumer.

Even with the potential for steep tariffs on China (and vice versa) on the horizon, these positive advances should still make an impact on the industry in the coming year and decade.

supply chain

How to Select the Best Supply Chain for Your Business

All businesses, no matter how small, need a reliable supply chain so they can deliver their products to their customers in the shortest time possible. The delivery system needs to be accurate, prompt and cost-effective.

Standards to consider when selecting a suitable supply chain

If the existing supply chain is missing just one of the above three elements, then you should consider redesigning it. In addition, business owners need to understand that supply chains have three different classifications:

-High inventory turns and low inventory volume – equivalent to Just-In-Time inventory

-Low inventory turns and high inventory volume – applicable when you have a long lead time with suppliers

-High inventory turns and high inventory volume – if your business is in the fresh or frozen food industry, you need sufficient produce to replace any expired or spoiled goods

When creating or adjusting your supply chain, other essential elements should include:

-Location of your business, customers, and suppliers

-Local regulations and tax laws

-Logistics lead times

-Logistical costs and savings

You can also measure your supply chain’s success based on the following:

-Flow of goods

-Costs of the flow of goods

-The time needed for such goods to flow

Ultimately, you will need a delivery system that will satisfy all your customers at the lowest possible cost. To determine which supply chain is most suited to your business, consider the following factors.

The location of your typical customer

-Do you ship globally, regionally or locally?

-Do customers come to you to pick up their orders?

For example, if you have to ship your goods across the globe, it can take up to two months for buyers to receive them. Therefore, you will need to design a supply chain that can handle international freight and customs issues.

However, if your customers pick up their purchases personally, then the delivery element can be the extension of your inventory and management control.

If your business requires fast order-to-delivery lead time, you will need a high inventory but low turns. This will mean that you need to allocate more resources to your inventory, but at least this will keep your customers happy.

If your product is in high demand or is perishable, you also need to keep a high inventory and deliver it quickly before the expiration date.

Accounting for supply chains

To successfully manage your product deliveries, you will need to know:

-What exactly you have in your inventory

-Where your stocks are located

-The costs of procuring your products

-The costs of holding them until they are sold or delivered

If you have hundreds or thousands of products, you will need a warehouse management system. Alternatively, you can hire a third-party logistics provider to take care of your inventory management and sales deliveries.

However, if you are just a small business, these options may prove to be too much of an investment. Despite the lack of huge resources, you still need to know your exact inventory. Fortunately, you can keep track of this information using spreadsheets and accounting software such as QuickBooks. This accounting service provider has several resource articles that can help you decide which software is most suitable for your business.

As your business continues to grow, you will need specific software that includes a component called enterprise resource planning (ERP). This system incorporates all the internal and external data in your electronic records and departments, such as accounting and sales.

Accountants, and specifically cost accountants, use the supply management chain as a tool to improve a company’s purchasing, manufacturing and inventory processes. This is a technique that analyzes the movement of goods; for example, from the raw materials to the finished products.

Locate your suppliers

You will have a long supplier lead time if the products will only arrive after

-Two months of sea travel. Shipping them by air is much quicker, but very expensive and the costs are usually unjustifiable

-Lengthy manufacturing cycles

High inventory volume and low inventory turns are normal for businesses such as Apple, although this tech company is using its market position to reduce its high inventory costs. For example, if you are an Apple supplier, you ship the products to the company, but it won’t issue an invoice upon receipt. You only receive payment once Apple releases the products to its retail stores.

Conclusion

In the end, the supply chain you choose must satisfy all your customers’ requirements so they can receive your products whenever and wherever they want. Nevertheless, the cost to you should also be reasonable. Achieving this goal requires a smart strategy and careful planning. However, the financial side of the supply chain will entail employing the services of an accountant who specializes in cost accounting. They will probably recommend a supply management system to monitor every process in the chain.

_______________________________________________________________

Written by Nishi Patel, founder of Northants Accounting.

 

multinational

5 Merits of a Multinational Workplace

Being in a multinational workplace simply implies that your business has its operations in more than one country. The term is different from a business that is said to be international. An international organization has all its activities in one country but exports its products to different other countries.

The multinational business is already established in other countries like they have their offices in those other countries. It is of course very advantageous to have operations in different countries in the world rather than having all your operations centralized but exporting to other countries. You could also become a life coach and work with multinational companies to assist them to embrace a diverse work environment.

Cost Advantages

This is one of the major advantages. The multinational companies are advantageous in that they can be able to locate countries where there are tax incentives and cheap labor. If they establish even bigger operations and expand their stores in that country then they will definitely make good money as compared to the international companies. 

This will be due to the incentive given by the government to private investors. Again if there is cheap labor it means the company will have lowered the cost of operations. They could even transport some of the employees to their other branches in other countries. This will effectively reduce their operating costs and hence more profits. The company will also be aware of the ideal countries where they could get supplies cheaply because of the exposure and also what business thrives in what country.

Workforce Innovation

Having employees from different nations is an added advantage to your business. The distinct cultures do give a different fundamental approach in business, society, management, and life with all its aspects. Having different cultures in your research and development team ensures your business stays at the front of innovations and inventions.

You need to know that not only products and services will benefit from multicultural co-operation in your organization. Your firm will also benefit from a wide range of ideas in production methods and marketing strategies.

Huge Valuable Network

Having a multinational company exposes you to more information and knowledge on diverse aspects of business and life in general. You will meet new customers, new cultures, prominent leaders and many other people who you will share brilliant ideas with. These multinational companies offer employees a perfect opportunity to be innovative as they share ideas from different cultures. They will also be very creative and of course, this is a plus for your business. The marketing term will come up with some value addition strategies that you couldn’t have figured out yourself.

International Travels

Your presence in a multinational business means that you will definitely be traveling to other countries. These are the countries where your company has established its operations and some of its branches. The business will require someone to be checking at how things are running, representation in meetings in those countries. 

These trips including even the business trips will give you a chance to explore new places and learn about their diverse cultures and way of doing things. Understanding the different nationalities and cultures basically opens up new opportunities for you. As you meet the new personalities you will learn a thing or two from them and even leave with a brilliant idea from them.

Holiday Destination Ideas

Working for a multinational company means you are going to meet more people from virtually all over the world. During your interactions with them, they could be probably talking about their countries and places one could visit. The best holidays are the ones you head on to a place that you at least have a clue about from friends.

The colleagues at the workplace will recommend beautiful sandy beaches that they have been to and amazing restaurants that can be found within or someplace they have visited. Some colleagues will even decide to take you there for a reconnaissance such that once you plan to go there you are already familiar with the place.

Bottom Line

Simply saying, a multinational company is very advantageous more than an international one. You will be having international travels by being in a multinational company and see new cities and towns. There is also more revenue in such kind of a company hence the pay for employees is better.

Meeting with people from other nationalities opens you up to the world and to more ideas on how things work. The employees become more creative and innovative.

sustainable logistics

DHL Announces First-Ever “Sustainable Logistics” Catwalk

Known as the J Winter Fashion Show 2020, DHL announced the upcoming fashion show spotlighting the relationship between the fashion industry and sustainable logistics solutions to take place on February 6 at DHL’s Express John F. Kennedy Gateway.  Fashion show producer and supermodel Jessica Minh Anh will be strutting the latest in innovative fashion  from Europe, Asia, Australia, and America while highlighting diversity, unity, creativity, and sustainability.

“Since shipping and logistics is such a big part of the fashion industry, I believe it is crucial to minimize environmental impacts by using green logistics solutions. What drew me to DHL is its great commitment to sustainability. From optimizing transport routes and rolling out alternative fuel vehicles, to operating energy-efficient warehouses, DHL is reducing transport-related CO2 emissions. It is important for me to partner with a company that prioritizes the health of our planet,” said Jessica Minh Anh.

IWG’s brand Spaces, Veestro, Warren Tricomi, scheimpflüg, Cream Ridgewood, Tone House, and Gotham Hotel were confirmed in the announcement as Anh’s selected partners for the show due to their prioritization of sustainable practices.

“We are very excited to join forces with Jessica Minh Anh in this historic project,” said Reiner Wolfs, Vice President and General Manager, Northeast Area, DHL Express U.S. “Her powerful message of motivating the younger generation to take action for a better future aligns perfectly with our vision for zero-emission logistics.”

Official fashion participants of the sustainable logistics fashion show will be released closer to the show’s debut.