Page 6 - Supply Chain

Allcargo Logistics arm partners with ShipBob for freight services

ECU Worldwide, a wholly-owned global subsidiary of Allcargo Logistics, on Thursday said it has partnered with ShipBob to offer its ocean and air freight services to the latter's receiving hubs and fulfilment centres in the US, Europe, Canada and Australia. Under the collaboration, ECU Worldwide will become an integral part of FreightBob, an end-to-end managed freight and inventory distribution programme of ShipBob, through its network across over 180 countries, more than 2,400 direct trade lanes and door-to-door deliveries, Allcargo Logistics said. This would help ShipBob manage its e-commerce inventory for their merchants in over 50 markets, as a part of ECU Worldwide LCL (less-than-container load) offering, it stated. "Our new-age tech-driven booking platform ECU360 has redefined the global supply chain efficiency with convenient features, continued product innovation and a worldwide network. The association with ShipBob will help us further deepen our delivery capabilities acros

UST acquires Endeavor Consulting Group for an undisclosed amount

Founded in 2006, Endeavor serves clients in North America and Europe and has expertise in life sciences sectors

Biden's efforts to reshape global supply chains gather pace in Asia

Taiwan's booming exports to the US are just one example of the way great-power tensions have already reshaped supply chains - and how China is getting left out of some of them

Asian stocks slide, gold rises as Middle East crisis sparks safety rush

Oil prices, however, hardly reacted to the news, as traders had largely priced in a retaliatory attack from Iran that would likely further disrupt supply chains

4 shocks pushed up prices, led to supply disruptions and price reactions

Easing inflation, a smaller fiscal deficit and a turn in US Federal Reserve's policy rates create grounds for policy rate cuts in India

Govt extends export benefits under the Rodtep scheme to SEZ units

The government on Friday extended export benefits under the RoDTEP scheme to companies in the special economic zones (SEZs) and export-oriented units (EOUs). The commerce ministry said that amid global economic uncertainties and supply chain disruptions, extending RoDTEP benefits to the uncovered sectors like AA (advance authorisation), EOUs, and SEZ units will help the exporting community in handling the international headwinds. "The government has announced the extension of the RoDTEP scheme support to additional export sectors i.e. Advance Authorisation holders, Export Oriented Units and Special Economic Zones export units," the ministry said. This decision comes in recognition of the significant contribution these sectors make to India's exports, constituting about 25 per cent of the total shipment. The government, in August 2021, announced the rates of tax refunds under the export promotion scheme -- Remission of Duties and Taxes on Exported Products (RoDTEP) -- for 8,555 ...

TVS Supply Chain Solutions expands warehousing footprint in India

The warehousing solutions are equipped with cutting-edge technology systems and top-of-the-line material handling equipments

TVS Supply Chain Solutions inaugurates warehousing facility in TN's Hosur

TVS Supply Chain Solutions Ltd on Thursday inaugurated an ultra-modern multi-client warehousing facility in Hosur, Tamil Nadu, as part of its expansion in the domestic market. The new warehouse offers value-added solutions like automation and data analytics to improve client productivity, the company said. The latest warehouse facility will provide more than 1,200 jobs, of which 300 will be women employees in various roles like kitting and binning, among others, it said. With the addition of this 6.50 lakh square feet of space, the company's total warehousing capacity has increased to 21.85 million sq ft from 21.2 million sq ft of space, TVS Supply Chain Solutions said. Globally, TVS Supply Chain Solutions operates around 300 strategically located warehouses across five continents, covering over 27 million sq ft of warehousing space. "We have strategically positioned our global parts distribution centre in this new facility, which will serve as a hub for our global market," K N ..

Must build deep national strengths for transition to leading power: EAM

External Affairs Minister S Jaishankar on Thursday said India in the next 25 years must build "deep national strengths" that will drive its transition towards a developed economy and leading power. Flagging the dangers of dependence on a limited number of suppliers, challenges of technology, and "weaponization of market dominance," he asserted that the country's goals and ambitions can not be determined by "the goodwill of others." The minister's recorded video message was played during the inaugural event of the 5th Asia Economic Dialogue, a three-day annual geo-economics conference organised jointly by the Ministry of External Affairs and Pune International Centre. The theme of the conference this year is 'Geo-economic challenges in the era of flux.' Jaishankar said the present geo-economic challenges fall in three categories -- supply chain challenge, technology challenge, and the challenge of "over-concentration stemming from the nature of globalisation". Whether it is finishe

Indian cos explore logistics options amid Red Sea supply chain disruptions

Companies are exploring alternative logistics options, including finding different shipping routes to minimise supply chain disruptions as the Red Sea crisis enters its fourth month

Allcargo Supply Chain to add 3 mn sq ft of warehousing space in 2-3 yrs

Allcargo Group's logistics arm Allcargo Supply Chain Private Limited (ASPL) on Monday said it aims to add a 3 million square feet of warehousing space in the next two-three years as part of its expansion plan. Currently operating with 6 million sq ft of space, the company said in the initial phase of expansion, it plans to begin from the north and south regions. ASPL has warehouses spread across more than 80 locations in India. The company said its nationwide expansion plan includes the establishment of standardized warehouses equipped with cutting-edge facilities. These warehouses will cater to all sectors, with ASPL's client distribution comprising 25 per cent from the chemical sector, 30 per cent from e-commerce, 25 per cent from auto engineering, and 15 per cent from other verticals, it said. "Our expansion plan is not just about increasing square footage; it's about strengthening our capabilities to better serve our clients. "With modern infrastructure and advanced Warehouse

No supply chain concerns, 40% biz expected from domestic market: GFL CEO

GFL discusses the company's plans to deploy their existing backend supply chain of flourspar and its Moroccan mines with new age technology to develop modern battery solutions

TVS SCS Q3 results: Company posts consolidated net profit of Rs 10 crore

The company's revenue from operations was also down by 6.4 per cent during the quarter under review to Rs 2,221.8 crore, compared to Rs 2,373.4 crore during the Q3 of FY23

Landmark Indo-Pacific supply chain pact to come into force on February 24

The US on Thursday announced that a landmark agreement on supply chain resilience under the Indo-Pacific economic framework involving 14 partner nations, including India, Japan and Australia, will come into force on February 24. US Commerce Secretary Gina Raimondo said the pact will facilitate a collaborative approach to strengthen supply chains and prevent potential disruptions. The US Department of Commerce said the Indo-Pacific Economic Framework for Prosperity (IPEF) agreement relating to supply chain resilience will enter into force on February 24. The agreement is aimed at coordination among the IPEF partners on building resilient, efficient, productive, sustainable, transparent, diversified, secure, fair, and inclusive supply chains. "This is a critical step in bringing the landmark, first-of-its kind agreement into action and promoting coordination among the IPEF partners on building resilient, efficient, productive, sustainable, transparent, diversified, secure, fair, and

US announces key pact on supply chain resilience under Indo-Pacific

The US on Thursday announced that a key agreement on supply chain resilience under the Indo-Pacific economic framework involving 14 partner nations, including India, Japan and Australia, will come into force on February 24. US Commerce Secretary Gina Raimondo said the pact will facilitate a collaborative approach to strengthen supply chains and prevent potential disruptions. The US Department of Commerce said the Indo-Pacific Economic Framework for Prosperity (IPEF) agreement relating to supply chain resilience will enter into force on February 24. "This is a critical step in bringing the landmark, first-of-its kind agreement into action and promoting coordination among the IPEF partners on building resilient, efficient, productive, sustainable, transparent, diversified, secure, fair, and inclusive supply chains," it said.

Here's how Yemen's Houthi attacks are hurting the global supply chain

Repeated rounds of retaliatory strikes by the US and its allies, as well as a multinational naval operation to patrol the waters, haven't stopped the assaults by the Houthi militants

Rural startups seek better supply chain, infra, easier access to funds

Rural startups are making a strong pitch for new programmes to foster research and innovation, as the grassroots-level entrepreneurs seek support for streamlined supply chains, subsidies, improved infrastructure, and easy access to finance. As the Budget and the Lok Sabha elections draw closer, startups working in various sectors, especially in smaller towns and villages, said they expect the government to look at various teething issues, even as their "overall performance has improved owing to various policy changes in the past couple of years". "India's food processing industry faces a number of difficulties such as outdated equipment, ineffective supply chains, poor infrastructure, and restricted finance availability. We expect the government to help us connect with global supply chains so that we can export our products to international markets," Pardeep Kumar Yadav, Founder of Krini Spices, told PTI. Krini Spices, which was founded in March 2017, has 22 direct and over 100 ...

Houthi rebels drag India into Red Sea crisis

States are no longer insulated from distant geopolitical realities. As India has witnessed, trade and supply chain linkages can extend conflicts to uninvolved states

Adani Ports reports 42% growth in cargo handling in December 2023

Adani Ports and Special Economic Zone (APSEZ) on Tuesday said its cargo volumes rose 42 per cent in December 2023 to 35.65 MMT (million metric tonne). According to a APSEZ statement, 10 ports in the APSEZ portfolio delivered their highest-ever cargo volumes, recording new operating milestones. The billionaire Gautam Adani's firm handled 311 MMT of cargo during the nine months of FY24, which is 23 per cent higher year-on-year. Mundra Port alone managed around 5.5 MTEUs in initial nine months, it added. For the quarter ended December, APSEZ handled around 109 MMT of overall cargo, the statement said. APSEZ CEO and whole-time director Karan Adani said, "APSEZ crossed the 300 MMT cargo mark in just 266 days versus its previous best of 329 days in the previous financial year". Adani said the company is now targeting over 400 MMT of cargo volumes in FY24, surpassing the upper end of the guidance range (370-390 MMT) provided at the start of the current financial year.

World needs India to become reliable challenger to China: Anand Mahindra

The world needs India to become a reliable challenger to China's supply-chain dominance, which will provide a great opportunity in 2024 and investment will flow into the country in unprecedented volumes, according to Mahindra Group Chairman Anand Mahindra. In his New Year message, Mahindra also said all signs point to the Indian economy achieving "the mythical lift-off that we have been awaiting, for decades" and predicted that in 2024 "companies that are able to create a portfolio of desirable products both in features and price will face the happy challenge of raising their production to meet demand". Stressing that "a New Year is special because it always symbolises a new beginning", he said, "No matter how dark the year has gone by, the human spirit has an abiding capacity for hope. 2023 was a year characterised by conflict, climate change and a sluggish post-Covid recovery. The year ended with the world crying out for renewal." The first day of the new year opens a new chapter,