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Supply
Chain by the Numbers |
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- April 27, 2023
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Amazon eCommerce Sales Flat again; US PMI below Key 50 Level again; Some Jobs are Hugely Exposed to AI; FedEx Closing Freight Terminals |
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That was the level of the US Purchasing Managers Index (PMI) for April from the Institute for Supply Management (ISM), released on Monday. That is 0.8 percentage point higher than the 46.3 recorded in March, but still well below the below the key 50 mark that separates US manufacturing expansion from contraction. That makes it the sixth consecutive month of US manufacturing decline following a 28-month period of growth. The New Orders Index remained in contraction territory at 45.7, 1.4 percentage points higher than the figure of 44.3 in March, but also still well below 50, in bad news for future manufacturing activity. It was mostly bad news in other related measures. |
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| That was the level of the US Purchasing Managers Index (PMI) for April from the Institute for Supply Management (ISM), released on Monday. That is 0.8 percentage point higher than the 46.3 recorded in March, but still well below the below the key 50 mark that separates US manufacturing expansion from contraction. That makes it the sixth consecutive month of US manufacturing decline following a 28-month period of growth. The New Orders Index remained in contraction territory at 45.7, 1.4 percentage points higher than the figure of 44.3 in March, but also still well below 50, in bad news for future manufacturing activity. It was mostly bad news in other related measures. |
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That’s how many terminals FedEx Freight – the company’s LTL unit - is closing across the US, the parcel giant announced this week, part of an on-going review of its network that aims to consolidate operations to adjust to market demand and changing dynamics. A company spokesperson said that “We identified opportunities to consolidate operations in several locations to improve customer service levels and improve efficiencies with fewer touchpoints, while lowering our cost to serve.” FedEx Freight is also enacting a furlough for certain job classes that will start May 28. The internal announcement comes amid signs of slowing freight demand across the greater market. FedEx said at its investor event April 5 that it will be consolidating its operating companies into one organization. FedEx Express, FedEx Ground, FedEx Services and other operating companies will be joined together as a single operating company that integrates air and ground networks under the FedEx brand. The company expects full implementation by June 2024. |
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That is the percent of accountants who jobs are at risk of being replaced with artificial intelligence, notably of the Chat-GTP version released last year. That according to a new report from - amazingly – OpenAI, the developer of Chat-GTP. But it’s hardly just accountants whose livelihoods are at risk. The report has a whole list of employment areas with 100% exposure, including reporters and journalists, mathematicians, web site designers, admin and legal assistants and more. A mere 97.1% of blockchain engineers could see their jobs replaced by AI, the report estimates. Generally, jobs that require repetitive tasks, some level of data analysis, and routine decision-making were found to face the highest risk of exposure. Maybe it’s good to know jobs like mechanics and tradesmen such as plumbers and roofers are safe. White collar jobs – not so much. And the tradesmen will probably lose jobs to robots soon enough. What kind of future do we face? 
