Supply Chain & Logistics News (October 28th – 31st)
A day late but, Happy Halloween! According to the S&P Global Market Intelligence Americans are spending upwards of 4.1 billion dollars on Halloween candy this year. This is nearly double the amount from a decade ago and it seems to be in line with the trend of Halloween gaining popularity in the last few years with the help of social media. This increase in spending is not due to candy prices rising, the results from the survey show an overall candy prices only increased 0.9% from 2023. The overall expected spending on Halloween is expected to top $11 billion this year. The biggest 5 exporters of candy sweets are Germany, mainland China, Mexico, Belgium, and Spain.
Now let’s get to the Supply & Logistics News for the week:
Third Wave Automation Raises $27 Million in Series C Funding Led by Toyota’s Woven Capital
Union City, Calif. – Third Wave Automation, a provider of autonomous high-reach forklifts, has closed a $27 million Series C funding round led by Woven Capital, Toyota’s growth investment arm. The round also included returning investors Innovation Endeavors, Norwest Venture Partners, and Qualcomm Ventures, bringing Third Wave’s total funding to $97 million. This capital will help scale the company’s Shared Autonomy Platform and expand manufacturing for its TWA Reach forklifts, which integrate AI-driven autonomy with human oversight to optimize labor and safety in warehouse operations. The partnership between Third Wave and Woven Capital creates a strong foundation to advance the company’s strategic vision, reshaping how warehouse operators understand autonomous forklifts. The TWA Reach forklifts operate in four modes: fully autonomous, remote assist, remote, and traditional manual operation. They are designed for high-reach applications, capable of horizontal and vertical movement of payloads, and used for end-to-end applications, from inbound, replenish, and outbound tasks to all tasks in between.
ClearJet and Shipium Announce Partnership to Expand Range of Logistics Solutions
The partnership between Shipium and ClearJet enhances supply chain efficiency by enabling businesses to achieve nationwide 2-day delivery at ground rates without changing carriers. By integrating ClearJet’s Super Carrier infrastructure, Shipium users gain access to advanced capabilities such as air zone skipping and final-mile carrier injections. This allows shippers to leverage their existing carrier accounts, like FedEx, UPS, or USPS while benefiting from expanded coverage to every U.S. ZIP code. The collaboration combines Shipium’s end-to-end logistics platform with ClearJet’s sortation systems and predictive logistics, offering real-time transit visibility, scalability, and cost-effective delivery solutions. This flexibility empowers businesses to optimize logistics operations, enhance delivery precision, and maintain control over carrier relationships.
Blyncsy, a subsidiary of Bentley Systems Inc., announced the launch of a comprehensive public map showcasing all interstate highways in the continental U.S. This map highlights critical roadway assets such as guardrails, speed limit signs, and work zones, aimed at enhancing roadway safety and maintenance. The data is accessible to state U.S. Department of Transportation (DOT) agencies, facilitating improved safety, maintenance, and repair of roads, particularly during natural disasters. Blyncsy’s map utilizes crowdsourced dash camera imagery from over 1 million vehicles, which, combined with its AI image analysis capabilities, can detect more than 40 different road conditions and asset inventory issues in near-real time. This includes identifying hazards like guardrail damage, missing signs, and improper road striping. The data is delivered through an open API, offering a scalable and cost-effective solution compared to traditional data collection methods such as LiDAR or manual inspections. Industry leaders, including Laura Chace, President and CEO of ITS America, praised Blyncsy for its innovative approach, highlighting its potential to enhance safety and equity in the transportation sector. Mark Pittman, Blyncsy’s CEO, emphasized the importance of this dataset for state DOTs, especially given their increasing workloads and limited budgets.
EU Investigating Chinese Company Temus over the Sale of Illegal Products
The European Union is investigating Chinese online retailer Temu for potential violations of rules designed to prevent the sale of illegal products. This investigation, launched under the Digital Services Act (DSA), follows complaints from the European Consumer Organisation (BEUC) and its members regarding the platform’s practices, including its game-like reward systems and product recommendation algorithms, which may contribute to addictive user behavior. The EU regulators are concerned that Temu has not done enough to prevent illegal product sales and that rogue traders are reappearing under different identities. Temu, which has 92 million users in the EU and is part of PDD Holdings, stated that it takes its compliance responsibilities seriously and is working to enhance its consumer protection measures. The company is also considering joining a voluntary EU initiative to combat counterfeit products. The investigation will assess whether Temu is meeting DSA requirements, particularly regarding providing access to public data for researchers. If found in violation, Temu could face fines of up to 6% of its global turnover.
Record Rains Causes Massive Flooding in Eastern Spain
Eastern Spain witnessed monstrous flash flooding for the first time in over a decade. This past week, areas such as Valencia Spain saw a year’s worth of rain in under 24 hours. The relentless rain triggered massive flash flooding, killing at least 158 and with an unknown amount of people still unaccounted for. Rains and flooding are not uncommon during the autumn months but these floods were the worst they have seen in recent years. The flooding has cut off entire villages from power, trapping them due to highway closures, and ruining farms in regions popular for agriculture exportation. Currently, Valencia residents still do not have running water and 75,000 of the original 150,000 do not have electricity. Scientists link these events to climate change, which is also behind the increasingly high temperatures and droughts in Spain.
Song of the Week:
The post October 28th – 31st Supply Chain & Logistics News appeared first on Logistics Viewpoints.