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Supply
Chain by the Numbers |
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- Aug. 3, 2023
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3PLs saw Strong Growth in 2022; Amazon Continues to Expand Rapid Delivery; US PMI for July Falls Yet again; Hope for Yellow to Survive? |
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24% |
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That was the strong growth in US 3PL net revenue in 2022, according to a new report from 3PL market analysts at Armstrong & Associates released this week. Armstrong defines net revenue as gross revenues less purchased transportation. But the impressive rise was much less than 2021’s 48.1% increase, coming off pandemic-weakened 2020 numbers. But 2022 marked the fourth-best growth year on record, going back to when Armstrong started collecting this data in 1995. In dollar terms, the total US 3PL market net revenue in 2022 came in at $148.1 billion. Amid a slow freight market this year, the Armstrong report pegged US 3PL net revenues to be down 5.1% annually, to $140.6 billion.
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| That is the number of months the US Purchasing Managers Index PMI from the Institute for Supply Management (ISM) has now been below the key 50 mark that separates US manufacturing expansion from contraction. That after the July results were reported this week by ISM, with the index at a score of 46.4. What’s more, the New Orders Index remained in contraction territory at 47.3, though 1.7 percentage points higher than the figure of 45.6 recorded in June, in bad news for future US manufacturing activity. Before this nine-month swoon, the US had seen a 28-month period of manufacturing growth after May 2020, not long after the start of the pandemic earlier that year. |
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$600 Million |
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That was the size of a loan the carrier then named YRC Worldwide, now known as Yellow, received back in 2019, from a group led by lead lender Apollo, a financial firm. Getting paid back on that loan may be a challenge, as Yellow appears set to file for bankruptcy, but now there are reports creditors led by Apollo are nearing a deal to provide Yellow with fresh cash during the coming bankruptcy The investing giant is finalizing a deal to lead a debtor-in-possession, or DIP, financing package for the imperiled trucking company. So perhaps Yellow will rise again. |
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That is how many orders Amazon said this week that it has delivered thus far in 2023 to US Prime members either the same or the next day, about four times the number it had delivered that quickly at this point in 2019. On its web post, Amazon says it achieved its “fastest Prime speeds ever” in Q2. Across the top 60 US metro markets, Amazon says more than half of Prime orders arrive the same or next day. For several years, Amazon has been on a mission to further reduce its pace-setting delivery performance, as Amazon has invested billions of dollars to optimize its fulfillment center and delivery stations and related processes to push delivery times from its initial two-day standard to just one day or same day.
