Industry News
Supply Chain
Top stories summarized by our editors
1/21/2022

The Biden administration has distributed $14 billion from the $1.2 trillion infrastructure bill and other sources to improve port infrastructure and waterways and support climate resilience efforts. Out of the $5.5 billion allocated for climate change mitigation, the largest amount -- $1.1 billion -- will be used to reduce surface water linked to algal blooms in the Everglades.

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White House
1/21/2022

US port drayage rates will continue rising this year due to tight carrier capacity, reduced availability and port congestion, according to software firm BookYourCargo, which estimates that rates rose 51% between 2020 and 2021. "Los Angeles and Long Beach continue to be the most congested ports in the United States, due in part to the fact that 40% of imports are brought in through these terminals," BookYourCargo CEO Nimesh Modi says, adding, "The last two years have demonstrated some fatal flaws in our current supply chain system."

1/20/2022

Government vendors are being lured by an email phishing campaign that encourages them to click on links to bid on Labor Department projects that are actually fake, according to INKY threat researchers. The links are typically sent from a spoofed government email address and harvest the respondents' credentials.

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Threatpost
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US Labor Department
1/20/2022

The White House's new Made in America Council, composed of representatives from 51 US agencies, will meet regularly to advance federal Buy American sourcing policies for the US government's annual $600 billion in procurement. The council "will also help streamline and strengthen the administration's work to effectively and efficiently implement the Infrastructure Investment and Jobs Act," said Celeste Drake, director of the Made in America Office.

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US council, White House
1/20/2022

Paul White, author of "The 5 Languages of Appreciation in the Workplace," shares how he's persevered professionally but distinguishes that from pushing himself too hard, as he did in his family life. "Only with 'dialing it back', supportive friends and gaining a healthier perspective on career goals and achievement have we been able to move forward into a more sane pace of life," White says.

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World Class Performer
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White
1/20/2022

Coming to terms with the shift in power from buyers to suppliers and adopting a mindset that is relational, rather than transactional, will help companies improve communication with vendors during the supply chain crisis, according to industry experts. Building trust, eliminating silos and choosing to create and share forecasts are three more ways to strengthen vendor relationships in 2022.

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FM
1/20/2022

Negotiation can achieve better results for procurement agencies than open competition among many bidders, according to a Carnegie Mellon University study of about 7,000 federal IT contracts. "[A]gencies would increase their search intensity and enlarge the pool of bidders if there was greater heterogeneity in the privately-known seller cost components," wrote the researchers, who examined contracts with fixed quantities and schedules from 2004 to 2015.

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The Horizons Tracker
1/20/2022

Fastenal earned $231.2 million in the fourth quarter on revenue of $1.53 billion, both up from a year earlier. Fastenal continued its trend of closing branches and opening Onsite locations, while employee headcount increased 0.7% from a year earlier.

1/20/2022

Customer relationship management systems in sales aren't helpful if they get used rarely, lead to missed opportunities, inhibit customer growth or have a high customer churn rate, writes Benj Cohen, founder of Proton.ai. CRMs that use artificial intelligence are a better choice because they "can improve customer retention by empowering sales reps with valuable insights," Cohen writes.

1/20/2022

A General Mills restructuring has integrated its innovation teams as the food manufacturer aims to remain "relentlessly focused on consumer problems," said Jon Nudi, president of North American retail. The company is taking a deeper dive into consumer data analytics to understand "What are consumers almost ready for? What are they almost over?" according to Doug Martin, General Mills' new chief brand and disruptive growth officer.