Shipping execs sound new alarm over Red Sea crisis | Report: Worker shortages hit supply chain operations | Study: US, European logistics firms struggle with AI
Shipping executives say Houthi rebels have recently increased attacks with longer-range weapons with advanced capabilities, and that, coupled with increased Somali pirate activity, is further fueling regional volatility. Major shipping firms plan to continue rerouting vessels and Norden Chief Executive Officer Jan Rinbo says, "I've not in my 29 years in shipping seen anything like this."
Notable workforce shortages are being seen among 76% of current supply chain operations, according to a Descartes poll, with 37% characterizing the gap as high to extreme. While 61% of respondents tell Descartes that their transportation operations are suffering the most, a ZipRecruiter' poll found the transportation and warehousing sector has added the most jobs of all sectors during the past 10 years.
US, UK and German transportation and logistics companies are struggling with AI, sustainability and supply chain visibility, according to a survey by Here Technologies, a location data and technology firm. Just half of companies use basic data analytics and one-fourth use AI, with cost being the main barrier for most firms. Most logistics firms do not have sustainability goals, according to the report, while three in four are making some progress toward real-time supply chain visibility.
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DHL Freight is testing a hydrogen-powered medium-duty truck manufactured by Paul Nutzfahrzeuge in Cologne, Germany, as part of a goal to reach net-zero logistics emissions by 2050. The 15.6-ton truck powered by hydrogen fuel cells is based on the Atego platform from Mercedes-Benz.
Anyseals upgraded its manually operated Brecksville, Ohio, warehouse last year to a new warehouse management system and the AutoStore automated storage and retrieval system. The shift required the seals distributor to engage with employees to ensure they understood their role in the changes, budget for the magnitude of the overhaul and approach the project with flexibility, says Tina Schulte, vice president of operational excellence at anyseals.
Automating with AI at the industrial edge Cloud resources remain a vital tool for manufacturers, but on-site edge devices are now capable of AI inferencing to help reduce latency, save on bandwidth costs, and allow businesses to retain full ownership of their data. Join experts from Red Hat, OnLogic, and Guise AI, as they discuss AI in factory automation. Register now.
Each artificial intelligence platform is a better fit for different organizations and tasks, writes Traction CEO Adam Kleinberg, who asked several generative AI bots what competitive advantages the technology could provide and got a variety of answers. Expert Sunil Subhedar predicts that industries will develop their own niche large language models, further complicating the choice of platform.
A survey of 131 CEOs found that perceptions of the economy have improved, with optimism for the year ahead rising 2% compared with January. "Our business is strong right now, and conditions seem to have moderated a bit versus the very inflationary environment we experienced the last couple of years," said Don Ochsenreiter, CEO of Dollamur Sport Surfaces.
Investors have pared back their rate-cut bets after several comments from Federal Reserve officials indicating cuts remain some time away. Derivatives market investors have started pricing in four or five quarter-point rate cuts this year, just above the three that are planned by the Fed. Investors were previously betting on seven cuts.
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