IAMC News Briefs—Week of July 4, 2022
By John Salustri
TRANSPORT DIVE—FedEx calls it Network 2.0, a strategy to strengthen collaboration between its Freight and Ground operations in the name of greater intermodal efficiencies. In fact, the firm estimates it could save some eight million bobtail miles (tractors moving without trailers) in the collaboration. That computers to a potential annual savings of $2 billion by fiscal year 2027.
https://www.transportdive.com/news/fedex-freight-empty-miles-ground-boost-collaboration-network/626482/?utm_source=Sailthru&utm_medium=email&utm_campaign=Issue:%202022-07-05%20Transport%20Dive%20%5Bissue:42871%5D&utm_term=Transport%20Dive
LA TIMES--“Cargo will keep moving,” even without a contract extension. So says a joint statement issued by the Pacific Maritime Association and the International Longshore and Warehouse Union. The contract expired on July 1. As reported earlier, automation of the docks remains a major sticking point, but talks continue.
https://www.latimes.com/business/story/2022-07-01/west-coast-dockworkers-extend-talks-beyond-july-1-without-contract
COMMERCIAL PROPERTY EXECUTIVE—Calling it one of the largest urban last-mile portfolio sales in recent history, Faropoint has sold 109 assets for $481 million. Multitenant warehouses and light industrial facilities—98 percent leased--make up the bulk of the pack, which was picked up by a private buyer.
https://www.commercialsearch.com/news/faropoint-sells-6-8-msf-for-481m/
GLOBEST.COM—In you have a new construction project on your drawing board, you can add five months to the entitlement and build process. That’s the word from real estate service provider Newmark. Chalk the extended delay to the overhang of pandemic-era issues, including, but certainly not limited to, the accessibility of construction materials. Adding to the collective industry agita is the increase in construction costs, tagged by Newmark at 22 percent higher in May of this year than in 2021.
https://www.globest.com/2022/07/01/entitlement-construction-now-taking-five-months-longer/
SUPPLY CHAIN DIVE—A 10-to 14-week reduction in lead times on customized products is already a reality for La-Z-Boy, now that the furnituremaker has addressed its supply chain issues. The multi-pronged approach includes an expansion of its North American operations with new factories in Mexico, new procurement strategies and the maintenance of higher inventory levels. Prior to the adjustments, delivery of custom items could take as long as seven months as opposed to four to six weeks, which was typical prior to the pandemic
https://www.supplychaindive.com/news/la-z-boy-makes-structural-changes-to-its-supply-chain/626130/?utm_source=Sailthru&utm_medium=email&utm_campaign=Issue:%202022-07-01%20Supply%20Chain%20Dive%20%5Bissue:42839%5D&utm_term=Supply%20Chain%20Dive