AEB News Brief

The AEB News Brief

Trending today: A recent survey of compliance professionals finds respondents less confident about managing third party relationships due to cyber security threats and the increased adoption of artificial intelligence.

AEB News Brief
AEB News Brief
AEB News Brief

Welcome to the AEB news brief. It's our regular update on major events and interesting things going on in the world of supply chain, global trade and logistics. You can find the brief by following our pages on FacebookTwitter and LinkedIn.

Einride, a Stockholm, Sweden – based autonomous, all-electric transport provider, raised $25m in Series A funding. The round was co-led by the EQT Ventures fund and NordicNinja VC, with participation from Ericsson Ventures, Norrsken Foundation, Plum Alley Investments and Plug and Play Ventures. The company intends to use the funds for both organizational growth and continued investments in software platform as well as further international expansion, delivering on its growing number of customer contracts with major global players like logistics provider DB Schenker, supermarket chain Lidl and large US based transport intensive companies. (FINSMES)

A recent survey of compliance and procurement professionals indicates respondents are less confident about managing third party relationships, with cyber security threats and the increased adoption of artificial intelligence (AI) listed as top concerns. The 2019 Compliance and Procurement Sentiment report from Dun & Bradstreet found that only 85% of respondents were confident about the effectiveness of risk management within their organization; 8% lower than the previous survey. Eighty four percent of respondents also forecast a decline in the future effectiveness of compliance and procurement functions. (Supply Chain Management Review)

Clean Logistics, a joint venture start-up, has received a notice of approval from the Federal Ministry of Transport and Digital Infrastructure forthe conversion of its heavy diesel trucks to hydrogen hybrid drives. The conversion will see the company produce HyBat trucks with emission-free fuel cell technology and high-performance batteries for energy storage. (H2 View)

FedEx  and Walgreens are partnering to make online returns more convenient, in a move that’s part of a growing trend where brick-and-mortar retailers cater to the needs of e-commerce shoppers in order to increase foot traffic at their stores. Under the new agreement, consumers will be able to drop off their online returns at thousands of Walgreens  locations nationwide. They’ll also be able to print their return shipping label in the store, if need be. (TechCrunch)

The Trump administration’s trade policies have finally gotten toFitbit Inc. The company announced Wednesday that it would shift certain product manufacturing from China to another market in order to evade the cost of Section 301 tariffs. Beginning in January 2020, “effectively” none of Fitbit’s trackers and smartwatches will be made in China, according to the company.  “In 2018, in response to the ongoing threat of tariffs, we began exploring potential alternatives to China,” CFO Ron Kisling said in a statement. “As a result of these explorations, we have made changes to our supply chain and manufacturing operations and have additional changes underway.” (Sky Statement

News brief
News brief

Atlanta-based transportation and logistics bellwether UPS said it received the United States government’s first full Federal Aviation Administration’s (FAA) Part 135 Standard certification, which is required to operate a drone airline. This follows a July announcement it made, when UPS formally launched its new drone subsidiary, UPS Flight Forward, small drone delivery operation initially within the hospital network space. (Logistics Management)

Austrian logistics provider cargo-partner says it is making western and central China more accessible toautomotive clients by using a new block train linking Chongqing to the port ofQinzhou in southern China. Connections between the country’s hinterland, home to many international manufacturing hubs of automotive industries, and the main sea ports in the east have been historically limited to road or barge transport. (Automotive Logistics

The CEO of Deutsche Post DHL Group told CNBC Tuesday that digitalization would change the industry.Frank Appel’s comments came as the business unveiled its new group strategy for the years ahead. With around 550,000 employees globally, Deutsche Post is a logistics and mail powerhouse. Speaking to CNBC’s Annette Weisbach, Appel said the Bonn headquartered group’s portfolio was “pretty broad and therefore very robust against volatility.” (CNBC)

The sportswear apparel giants, Nike, has launched a new distribution centre that runs on renewable energy and recycles 95% of its waste generated on site. In the firm’s blog post, the new 1.5mn sq.ft centre in Ham, Belgium, is set to accelerate Nike’s logistics capabilities in order to meet the increasing consumer demand whilst advancing sustainability at scale. (SuppyChainDigital)

Global trade may weaken this year to the slowest pace since the depths of the Great Recession due to the U.S.-China trade war. Slowertrade levels could harm job creation as firms may need fewer workers to produce goods and services, the World Trade Organization said Tuesday. The World Trade Organization said it expects volumes of traded goods to rise 1.2% this year, far below the 2.6% estimate it issued in April and the weakest since 2009. (CBSNews)

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