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Supply
Chain by the Numbers |
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- May 30, 2024
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Cargo Thefts Way Up in Q1; China Economy Improving; Campbell Soup to Revamp Supply Chain; Abandoned Sailors a Growing Problem Worldwide |
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| That was the rise in the number of cargo theft incidents in the US in Q1 versus the same period in 2023. That according to the latest report on such matters from Verisk Analytics’ CargoNet unit. That took the total incidents in the quarter to 925 incidents which was also up 10% from the fourth quarter of 2023. The report estimates that $154.6 million worth of goods was stolen during that period. A major factor in the rise: the emergence of a new type of crime — document forgery. This involves cargo thieves pretending to be legitimate drivers to fraudulently secure a load. They then drive the load to its intended destination and partially unload it and alter the bill of lading to show the complete load was delivered. In terms of what goods were stolen, the report says small appliances, liquor, energy drinks and copper were the most targeted. |
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That is the number of so-called “sailor abandonment” seen so far in 2024, after 143 incidents in 2023. That according to numbers cited this week from a group called Stella Maris, a charity looking out for sailor welfare, using data reported by the International Maritime Organization, which regulates ocean shipping. What is abandonment on the high seas? It occurs when shipowners withhold wages, repatriation, and even basic needs such as food, accommodation, and medical care to a ship’s crew. The CEO of Stella Maris, Tim Hill, said: “This is a call to action for the entire maritime industry, we must unite to enforce international laws, hold negligent companies accountable and provide immediate assistance to abandoned crew.” |
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5.0% |
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| That is the new forecast for Chinese economic growth in 2024 from the International Monetary Fund. As released this week. That is up from 4.6% previously, and indicates some acceleration of the recent sluggishness in China’s economy. The IMF also increased its forecast for 2025 to 4.5% from 4.1% However, the IMF warned that Beijing needed to “scale back” industrial policies that could affect trading partners and increase efforts to lift domestic demand. Beijing’s own growth target for 2024 is about 5%, the same figure as last year and the lowest in decades. Looking forward, the IMF warned that growth in China would slow to 3.3% by 2029 due to an ageing population and slower expansion in productivity. |
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That’s how much Campbell Soup is going to spend over the next three years to revamp the company’s supply chain, the food giant said this week. As part of that effort, the Camden, NJ-based soup and snack maker will focus on upgrading manufacturing facilities and distribution sites across the US as well as leveraging its network of co-manufacturing partners. The plan also involves closing inefficient sites and shifting production to more modern and effective plants. $80 million of the planned investment is already spent, the company noted. “To fuel growth and transform our manufacturing and distribution network, we must invest and further strengthen our supply chain,” says Dan Poland, Campbell’s chief supply chain officer. “By leveraging our best-in-class in-house capabilities combined with the expertise of trusted manufacturing partners, we will continue to make the highest quality products, with a more agile, flexible and cost-effective manufacturing network.
