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Supply
Chain by the Numbers |
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- Feb. 8, 2024
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Start Up Raises Big Money to Fight Produce Waste; Amazon Sees Strong eCommerce Growth; Yellow Freight Repays Big Loan; New Container Ships Keep Coming |
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30 -40% |
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That is how much of the total US produce supply chain winds up in landfills. With that level of waste, it’s no surprise some companies are developing systems to reduce it. That includes a company called ProducePay, which this week announced that it raised $38 million in a Series D round of funding led by Syngenta Group Ventures, with participation from a number of other firms. What does ProducePay do? In part the company bundles a loan program for farmersmwith supply chain visibility tools to create what it calls “predictable commerce programs.” The programs have retailers commit to fixed pricing and volume before the growing season starts in exchange for produce from vetted growers. ProducePay’s team of agronomists monitor and communicate order quality from the field throughout each program, through transportation and final a delivery. This is a big problem in need of a solution.
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| That was the year-over-year growth in Amazon’s on-line store sales in Q4 versus 2022, according to the company’s earnings report last week. That continues solid growth in the metric in the last couple of quarters after year of flat numbers. Overall, and working off a very large number, net sales increased 14% to $170.0 billion in Q4, compared with $149.2 billion in Q4 2022. It was also a pretty profitable quarter, with Amazon’s net income increasing to $10.6 billion compared with just $0.3 billion the prior year. For the full year, operating income increased to $36.9 billion in 2023, compared with $12.2 billion in 2022. |
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$700 Million |
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| That was the year-over-year growth in the number of orders Amazon delivered the same day or overnight in Q4. That according to a blog post this week by Doug Herrington, CEO of Amazon's worldwide stores business. Herrington said it delivered 7 billion items with same or next day shipping last year. The company declined to provide comparable figures on shipping data from 2022. Amazon has linked speedier deliveries to improvements in inventory deployment and growth in its local same-day delivery hubs. The company currently has 55 of these facilities in metro areas across the US, with plans to add still more. Also a factor is a new network design which divides the country up into smaller regions and ships items from those areas reducing travel distances and item touches. |
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That’s how many container ships, with a combined capacity of some 300,000 teu, were delivered to carriers last month, including eight of more than 15,000 teu. That according to a report from theLoadstar.com web site. This represents a monthly record. What’s more, a further 2.8 million teu of container capacity is scheduled to be delivered in 2024. That despite weak container volumes, as demand continues to be below capacity. The build is so large that the expected delivery in 2024 is equivalent to the current capacity of the fourth-largest container carrier. Shippers can expect rates to stay low, it would seem.
