PRIMO NEWSLETTER
Week September 11th to 15th, 2023
TRUCKING
Hurricane season could cause massive supply chain disruptions in United States
September 07, 2023
Hurricane Lee which strengthened from a tropical storm to a hurricane on Wednesday, will likely become a major hurricane by Friday and a Category 4 hurricane with winds up to 150 mph by Saturday.
August’s Robust Class 8 Truck Orders
September 6, 2023
Preliminary North American Class 8 net trucking orders for August showcased strength, as reported by freight transportation consultancy FTR and ACT Research. FTR highlighted that August preliminary orders, totaling 15,400 units, experienced a 16% rise from July to August.
Celebrating National Truck Driver Appreciation Week
September 11, 2023
National Truck Driver Appreciation Week is an annual event that honors the dedication and hard work of truck drivers. It runs from September 10-16, 2023, and this year, various companies and organizations are offering deals and recognizing the efforts of these essential workers. From free meals to discounted products, truck drivers can avail of these special offers throughout the week.
FMCSA’s New Leadership Appointment
The Federal Motor Carrier Safety Administration (FMCSA) has announced the appointment of a new Assistant Administrator and Chief Safety Officer, Sue Lawless This move is expected to bring fresh perspectives and strategies to enhance road safety and streamline regulatory processes.
TECHNOLOGY
Gartner’s Take on Compliance Function Trends
Gartner, a leading research and advisory company, has identified three significant trends for 2023 in the compliance function–tighter budgets, labor market conditions, and organization dynamics. These trends are expected to shape the future of regulatory compliance and risk management in various industries, driving additional technology adoption throughout all industries, including transportation.
Ever.Ag’s Strategic Acquisition
Ever.Ag, a prominent player in the agriculture sector, has absorbed Rogers’ bulk agriculture, trucking, and logistics platform. This acquisition aims to expand EverAg’s reach and offer enhanced services to its clientele. In turn, this will lead to more data-driven insights for Ever.Ag and the ability to make more profitable decisions around all processes from the field to the table.
AI’s Role in Streamlining Supply Chains
Integrating Artificial Intelligence (AI) with trade data promises to revolutionize supply chain management. By leveraging AI, businesses can anticipate disruptions, optimize logistics, and ensure timely delivery of goods. Of course, it will always depend on the ability to look beyond the horizon and think about the best possible situations. Most often, AI may see a future filled with risk management applications–considering the what-ifs based on historic and predictive data.
US AND INDUSTRY
US Trade Deficit Statistics for July 2023
September 6, 2023
The US trade deficit for July 2023 has been released, providing insights into the country’s economic performance and trade relations. The deficit is up $1.3 billion compared to June 2023. Clearly, increased imports of consumer goods and capital equipment weren’t able to make up the difference, and this could only be a precursor of below-average expectations for the coming quarter.
Volkswagen’s Proactive Approach to Semiconductor Procurement
September 4, 2023
Facing global semiconductor shortages, Volkswagen Group is taking decisive steps to ensure a steady supply. The company is now exerting more control over its semiconductor procurement process to mitigate production disruptions. The move comes after a near-two-year review by an internal cross-functional task force charged with improving semiconductor procurement for the company.
FMCSA Seeks Public Commentary on Driver Detention Time Study
September 6, 2023
The Federal Motor Carrier Safety Administration (FMCSA) has officially launched plans to study driver detention time and its impact on safety when operating commercial vehicles. This will analyze the impact that unnecessary or extensive wait times have on the driver and provide guidance on future regulation of detention time or other factors.
Standard Freight Cycle Expectations Continued Despite COVID
September 6, 2023
The pandemic was an unprecedented disruption to the global economy, and yes, the freight market spun in many directions. However, leading expert post-COVID analyses, contributed by both FreightWaves’ Craig Fuller and Supply Chain Professor Jason Miller, found the cyclic, 3-year nature of the market remains intact.
Other Top Stories You Should Know
Understanding ‘Immaculate Disinflation’
September 6, 2023
Economists have introduced a new term, “immaculate disinflation.” It describes a scenario where inflation cools without causing a spike in unemployment, challenging the traditional understanding of the sacrifice ratio. The US has witnessed a drop in inflation rates without a significant rise in unemployment, leading some to believe that immaculate disinflation might be achievable.
“The Equalizer 3” Dominates the Box Office
September 4, 2023
Denzel Washington’s “The Equalizer 3” has made a significant impact at the box office, earning an estimated $42 million over the Labor Day weekend. This figure makes it the second-highest Labor Day weekend ever. Meanwhile, “Barbie,” which surpassed $1 billion in global earnings in early August, has now dropped to the second spot at the box office.
Hans Niemann Reinstated, Makes Vow to Become the Best
September 1, 2023
We’re definitely not strangers to strategy, but following a cheating scandle and being barred from Chess.com, American chess grandmaster Hans Niemann has been reinstated! This also comes after his $100 M lawsuit was dismissed in June, and with so much strategy at play, we can only think of what we’d do if it was trucks and not pawns moving across a board the size of a continent!