Chinese New Year 2024: How to maximise supply chain and logistics efficiency

Chinese New Year 2024: How to maximise supply chain and logistics efficiency

Chinese New Year 2024: How to maximise supply chain and logistics efficiency

The Chinese New Year, also known as the Lunar New Year or Spring Festival, is one of the most important holiday periods in China. For shippers and businesses, it presents specific logistical challenges. Production slows down, operations are limited, schedules get disrupted, and transportation gets delayed, thus leading to significant supply chain disruptions.

When is the Chinese New Year 2024?

One of the most important traditional Chinese holidays, the Chinese New Year or Lunar New Year, is celebrated in several East Asian countries, including China, Vietnam, Singapore, Malaysia, Philippines, Indonesia, and North & South Korea. The dates vary each year because it follows the lunar calendar. Usually, the new year falls between January 21 and February 20. The celebrations last for 15 days, culminating with the Lantern Festival.

Note that preparations for Chinese New Year start three weeks in advance – with factories slowing down, shutting operations, and workers traveling back to their hometowns to celebrate the new year with their families.

In 2024, the Chinese New Year will commence on February 9 (Friday). The main festival will fall on February 10 (Saturday). The festivities will conclude with the Lantern Festival on February 24 (Saturday).

What is the impact of Chinese New Year 2024 on my shipping business

As a primary trade centre, especially for ocean freight shipping, slowdowns in China affect the global supply chain. During the Chinese New Year celebrations, almost all factories and manufacturers in China halt their processes, ports limit their operations, and workers are unavailable – thus disrupting the entire supply chain and logistical operations. This means:

  1. Factory closures lead to disrupted supply
  2. Decreased workforce and halted operations
  3. Increased shipping demand before the holiday week
  4. Peak season means high congestion at ports
  5. Higher shipping costs and processing time
  6. Shortage of containers and vessels for exports

How you can prepare your supply chain for Chinese New Year 2024 closures

Preparing and planning is the key to managing your logistics and supply chain operations to minimise the effect of the Chinese New Year on your business. Following a proactive approach becomes essential. Here’s how you can prepare your business during peak seasons while keeping your supply chain agile:

  1. Evaluate your logistics partners for reliability and resources
  2. Plan ahead and communicate your needs clearly
  3. Pre-book containers or vessel space
  4. Leverage data for effective inventory management
  5. Opt for smaller, multiple shipments instead of a full container load

Tips to prevent shipping delays during Lunar New Year 2024

In preparation for CNY, delays in shipping are a major concern. But, with the right strategies, you can minimise disruptions and ensure a smooth flow of goods. Here are a few tips to maintain a reliable and efficient supply chain during the Chinese New Year 2024:

  1. Consider shipping through various types of containers
  2. Diversify your modes of shipping
  3. Choose ports with lower congestion and faster TATs
  4. Manage your employees’ holiday schedules
  5. Maintain a contingency Chinese New Year shipping budget

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Here’s How Supply Chains Are Being Reshaped for a New Era of Global Trade

Nearshoring. Automation. Supplier diversification. Sustainability. Companies are adapting their operations to changing market pressures and geopolitics.

Nearshoring. Automation. Supplier diversification. Sustainability. Companies are adapting their operations to changing market pressures and geopolitics.

When a measure of strains on global supply chains fell earlier this year to levels last seen before the Covid-19 pandemic, it signaled to some that the product shortages, port bottlenecks and shipping disruptions of the past three years were over and that a new era of stability was on the horizon.

But industry experts say a “return to normal,” as the Federal Reserve Bank of New York described its Global Supply Chain Pressure Index in February, hardly means that companies are going back to conventional, some would say complacent, supply chains.

Instead, say academics and consultants, the experiences during the pandemic, along with changes in geopolitics, are leading to broader, potentially long-lasting changes in how companies manage the flow of goods, from the sourcing of raw materials to manufacturing and distribution.

The changes are playing out at factories in India, auto-assembly plants in northern Mexico, ports from the U.S. Southeast to East Africa and mineral mines in Canada and Sweden. The sites are where companies are implementing disciplines such as resilience, regionalization and supplier diversification that came to the forefront as they coped with the severe disruptions that began in early 2020.

The turmoil that began with the declaration of the Covid-19 pandemic first hit companies with sudden shortages of consumer staples as households locked down, was followed by factory shutdowns that interrupted the flow of goods and then hit transportation networks as an abrupt snapback in demand led to overstuffed ships and enormous backups at ports.

By April 2020, the New York Fed’s supply-chain stress index had shot up to double the level it reached during the recovery from the 2009 financial crisis. It finally fell back early this year to levels more typical of a measure going back 25 years.

“Some stresses have been taken off, there are fewer supply shortages, and things are a lot less hectic, but we certainly are not back to normal,” said Patrick Van den Bossche, a partner and global analytics practice leader at consulting firm Kearney. “There is a subdued level of urgency but a lot of things have changed.”

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Microsoft announces the Microsoft Supply Chain Platform, a new design approach for supply chain agility, automation and sustainability

Microsoft announces the Microsoft Supply Chain Platform, a new design approach for supply chain agility, automation and sustainability

Microsoft announces the Microsoft Supply Chain Platform, a new design approach for supply chain agility, automation and sustainability

Microsoft Corp. announced the Microsoft Supply Chain Platform, which helps organizations maximize their supply chain data estate investment with an open approach, bringing the best of Microsoft AI, collaboration, low-code, security and SaaS applications in a composable platform.

The company also announced the preview of Microsoft Supply Chain Center, a ready-made command center for supply chain visibility and transformation and part of the Microsoft Supply Chain Platform. Supply Chain Center is designed to work natively with an organization’s supply chain data and applications, with built-in collaboration, supply and demand insights, and order management.

“Businesses are dealing with petabytes of data spread across legacy systems, ERP, supply chain management and point solutions, resulting in a fragmented view of the supply chain,” said Charles Lamanna, corporate vice president, Microsoft Business Applications and Platform. “Supply chain agility and resilience are directly tied to how well organizations connect and orchestrate their data across all relevant systems. The Microsoft Supply Chain Platform and Supply Chain Center enable organizations to make the most of their existing investments to gain insights and act quickly.”

“Supply chain solutions are more critical than ever. Our early assessment of the Microsoft Supply Chain Platform and Supply Chain Center is that the company has put its technology, applications and resources together in a way that will serve its customer base well in a wide swath of IT and operations environments, offering flexibility for diverse IT environments and continuous agility for transformation into the future,” said Daniel Newman, founding partner and principal analyst of Futurum Research.

The Microsoft Supply Chain Platform: An open, collaborative and composable foundation for data and supply chain orchestration

With today’s announcement, we are making it easier for customers to realize the value of the Microsoft Cloud for their supply chain. The Microsoft Supply Chain Platform provides the building blocks across Azure, Dynamics 365, Microsoft Teams and Power Platform for customers to develop or independently adopt capabilities for their supply chain needs. With Dataverse, customers can create thousands of connectors to gain visibility across supply chain, develop custom workflows with low-code solutions in Power Platform, and securely collaborate internally and externally through the power of Teams. With tools and processes that drive positive impact, the platform can enable organizations to gain deeper insights and minimize the carbon impact of their organization and supply chain.

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Photo by Turag Photography on Unsplash

Future-proofing the supply chain

Future-proofing the supply chain

Future-proofing the supply chain

Supply chains matter. The plumbing of global commerce has rarely been a topic of much discussion in newsrooms or boardrooms, but the past two years have pushed the subject to the top of the agenda. The COVID-19 crisis, postpandemic economic effects, and the ongoing conflict in Ukraine have exposed the vulnerabilities of today’s global supply chains. They have also made heroes of the teams that keep products flowing in a complex, uncertain, and fast-changing environment. Supply chain leaders now find themselves in an unfamiliar position: they have the attention of top management and a mandate to make real change.

Forward-thinking chief supply chain officers (CSCOs) now have a once-in-a-generation opportunity to future-proof their supply chains. And they can do that by recognizing the three new priorities alongside the function’s traditional objectives of cost/capital, quality, and service and redesigning their supply chains accordingly.

The first of these new priorities, resilience, addresses the challenges that have made supply chain a widespread topic of conversation. The second, agility, will equip companies with the ability to meet rapidly evolving, and increasingly volatile, customer and consumer needs. The third, sustainability, recognizes the key role that supply chains will play in the transition to a clean and socially just economy.

Boosting supply chain resilience

Supply chains have always been vulnerable to disruption. Prepandemic research by the McKinsey Global Institute found that, on average, companies experience a disruption of one to two months in duration every 3.7 years. In the consumer goods sector, for example, the financial fallout of these disruptions over a decade is likely to equal 30 percent of one year’s EBITDA.

Historical data also show that these costs are not inevitable. In 2011, Toyota suffered six months of reduced production following the devastating Tohoku earthquake and tsunami. But the carmaker revamped its production strategy, regionalized supply chains, and addressed supplier vulnerabilities. When another major earthquake hit Japan in April 2016, Toyota was able to resume production after only two weeks.

During the pandemic’s early stages, sportswear maker Nike accelerated a supply chain technology program that used radio frequency identification (RFID) technology to track products flowing through outsourced manufacturing operations. The company also used predictive-demand analytics to minimize the impact of store closures across China. By rerouting inventory from in-store to digital-sales channels and acting early to minimize excess inventory buildup across its network, the company was able to limit sales declines in the region to just 5 percent. Over the same period, major competitors suffered much more significant drops in sales.

Supply chain risk manifests at the intersection of vulnerability and exposure to unforeseen events (Exhibit 2). The first step in mitigating that risk is a clear understanding of the organization’s supply chain vulnerabilities. Which suppliers, processes, or facilities present potential single points of failure in the supply chain? Which critical inputs are at risk from shortages or price volatility?

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Disruptions in China can lead to ‘ripple-effects’ across global supply chain, says HSBC

Disruptions in China can lead to ‘ripple-effects’ across global supply chain, says HSBC

Disruptions in China can lead to ‘ripple-effects’ across global supply chain, says HSBC

China’s zero-Covid restrictions will impact global supply chain recovery as any small disruption in the country will likely lead to “ripple effects” across the world, according to the head of shipping at HSBC. The pandemic has revealed “how lean the supply chain has become. And there is little margin of error,” said Parash Jain, global head of shipping and ports equity research at HSBC.

“The sheer importance of China when it comes to global trade means that any small disruption in China, will have a ripple effect across the supply chain,” Jain told CNBC’s “Squawk Box Asia” on Monday. China, the world’s second largest economy, has doubled down on its zero-Covid strategy due to recent spikes in infections across the country. Covid cases have been reported in the key port cities of Shenzhen, Tianjin and Ningbo, as well as the industrial hub of Xi’an, resulting in lockdowns and curbs in the largest port hubs.

China reported 58 new Covid-19 cases as of Monday, according to the national health authority. The National Health Commission in its daily update said 40 of the new cases were local infections, with the remaining 18 coming from overseas. Despite having a relatively low number of cases compared to many other places in Asia, Beijing has clung onto its zero-Covid approach. China has a 7-day rolling average of 0.04 daily cases per million people as of Jan. 30 compared with 568.8 for Japan, 290.41 for South Korea and 180.35 for India, according to Our World in Data.

China has the infrastructure in place to quickly decongest — whether it’s at the port or in the supply chain side, said Jain. “However, the chaos created because of this will eventually have an impact on the other side of the ocean,” he added. “That’s why, as long as China maintains this very strict zero-Covid stance, we cannot rule out a disruption time to time as the year progress,” he added.

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Supply Chain Problems in 2021: How They Impacted the Economy and What’s Next?

Supply Chain Problems in 2021: How They Impacted the Economy and What’s Next?

Supply Chain Problems in 2021: How They Impacted the Economy and What’s Next?

Supply chains are networks — ways to source and supply various goods and services across the globe. Unfortunately, due to complications resulting from the pandemic, both businesses and consumers have learned firsthand how vulnerable these networks are, and how critical they are to deliver what we and others often desperately need.

Here’s how the supply chain impacted the economy this year — and also what the future may hold.

Why Did the Supply Change Shortage Occur?

Supply chain shortages first began back in the first quarter of 2020 — at the beginning of the pandemic. Factories all over the world were forced to slash or halt production due to the spread of COVID-19 and the resulting lockdowns. Because factories were not shipping as many goods — or any goods at all — shipping companies responded accordingly by clearing their schedules.

Shipping companies were subsequently called to action to ship personal protective equipment around the world. Unfortunately, many of those containers were unloaded in destination countries, emptied of goods and not returned, which led to a shortage of shipping containers.

How Do Supply Chain Shortages Affect Businesses?

“Most consumers don’t truly understand how astoundingly intricate today’s supply lines are,” said economic expert Monica Eaton-Cardone, owner, co-founder and COO of Chargebacks911. “Corporations might import some parts from China, other parts from India, maybe some rare-earth elements from elsewhere — and if there are any delays at any point, it limits how quickly these products can be sourced, assembled, packaged, shipped and sold.

“As we’ve recently seen, this causes prices to rise because all the efficiencies that were so carefully built into the supply chain have collapsed. Eventually, this leads to scarcity, shortages and lots of unhappy consumers — especially during the holiday season. A broken supply chain is unpredictable, and the system cannot function without reliability in sourcing and predictability in shipping.”

Why Does the Supply Chain Make Such a Difference for Our Overall Economy?

“To compete in the global economy, businesses must outsource and create supply chains,” said Dr. Tenpao Lee, professor emeritus of economics at Niagara University. “The success of a supply chain is based on tremendous collaboration, coordination, and communication. Any small disruption would ruin the whole supply chain system. For example, car manufacturing cannot proceed without simple computer chips. Port congestion can paralyze many related industries.”

What’s Potentially Next Regarding Supply Chain Issues?

“At some point, our supply chain crisis will subside and return to normal,” said Carlos Castelán, managing director of The Navio Group, a retail consulting firm that advises businesses on how to navigate supply chain challenges.

“But until then, the key going forward is inventory,” he said. “For business retailers, inventory could be the difference between success and failure during early 2022. The first and possibly second quarter of 2022 will be a test of retailers’ supply chains and operational capabilities. With shortages of many key components for manufacturers as well as labor shortages – or stoppages in the global due to COVID – retailers are facing a variety of different headwinds across different fronts.”

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Record-Breaking Supply Chain Disruptions and Supply Shortages

aerial photo of pile of enclose trailer

Factory Fires, Mergers & Acquisitions, Business Sales, Factory Disruptions, and Leadership Transitions rank as the top five supply chain disruptions in the first six months of 2021, with life sciences, healthcare, and the automotive industry being most impacted.

Records are to be broken, say observers of the recently-concluded Olympics. But the dark side of such comfortable declarations was evident in global supply chains this year.

According to data released by Resilinc, a global leader in the supply chain risk monitoring space, human-caused supply chain disruptions are rising overall, with the amount of factory fires up 150% (when comparing the first half of 2021 to the first half of 2020).

This year is on track to have the most factory fires ever reported. The uptick is due mostly to gaps in regulatory and process execution as well as a shortage of skilled labor in warehouses.

The data also reveals that disruptions due to Supply Shortages (semiconductor chips, plastics, cardboard are all examples) were up 638% in the first half of 2021. Resilinc sent out 251 Supply Shortage alerts; this type of disruption ranked 6th in terms of most reported events (behind Leadership Transition). Supply Shortages are driving consolidations, mergers, and business sales as companies look to give a quick cash boost to the core business or optimize the supply chain to best serve the customer base.

In the first half of 2021, almost half (46.5%) of disruptive events occurred in North America, followed by Europe (23.43%), and then Asia (19.45%). In comparison, in the first half of 2020: North America had the most disruptive events; Asia had the second highest; Europe had the third most.

While Human Health disruptions, which include COVID-19 related events, ranked 19th in terms of the number of event alerts in the first half of the year, Resilinc has continued to designate the event as “severe.” It’s the first time in the company’s history ranking an event at that level of impact.

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The future of supply chain management is AI and Data

The future of supply chain management is AI and Data

The future of supply chain management is AI and Data

Because enterprises are like organisms in an economic ecosystem, the principles that enable a healthy biological ecosystem are, from a physical, chemical and informational perspective, identical to those that enable a healthy business ecosystem and that ensure the survival of members of that business ecosystem. Value is created by solving problems through the application of information and creativity. By speeding the information flows and reducing inefficiencies, we are equipping our part of the bigger picture to operate effectively, adapt quickly and evolve to meet competitive threats and exploit opportunities in the environment.

Supply chains are a crucial and complex part of the information flowing in this ecosystem. They are an intricately structured and variable system that is highly sensitive, with many possible outcomes based on even minor changes in the initial conditions or components. Supply chains feature a large collection of interacting components that are difficult to understand or examine due to their design and operations. And they represent a system in process, changing and developing over time.

It’s critical to think holistically about the information ecosystem as you prepare the digital representation of various stages of product design and development. Even a product designed in isolation from other systems and groups—whether in a specialized department or in a separate contracting organization—is still part of an information ecosystem. Information that may be inconsequential to the group that is creating the product, such as an obscure material specification that has no immediate value, will likely have value either downstream (perhaps to a distributor or engineering group) or upstream (perhaps to a procurement manager or supply chain manager).

Too often, these unseen dependencies and information relationships are neglected, and the impact of this neglect can be significant. If a piece of data that will be needed when assembling or distributing a future product is not captured, is lost or is incorrectly represented, the cost of remediation is orders of magnitude larger than that of addressing the data need at the source.

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Cold-chain transport vital to COVID-19 vaccine distribution

Cold-chain transport vital to COVID-19 vaccine distribution

Cold-chain transport vital to COVID-19 vaccine distribution

COVID-19 vaccines developed by China are being shipped to countries across the world.

Produced by one of China’s major vaccine makers, Sinovac Biotech, they must be kept below a specific temperature to remain active.

Before they’re shipped out of a production plant in Beijing, the vaccines are loaded into temperature-controlled containers and sent to the airport by cold-chain trucks.

On Wednesday, a cargo flight from Swissair picked up vaccines at the Beijing Capital International Airport to deliver them to Brazil before Christmas. With international commercial flights hampered by the pandemic, airfreight is now a major mode of vaccine transport.

Beijing Aviation Ground Service (BGS) is the local logistic company responsible for handling the vaccines from the production plant until they are loaded onto an airplane. It is the second company in China certified by the International Air Transport Association (IATA) and the Center of Excellence for Independent Validators in Pharmaceutical Logistics (CEIV Pharma).

“This isn’t a new task for us, but delivering vaccines in such a great quantity is something we haven’t seen before,” said Yan Xin, director of BGS’s International Cargo Division. “We’ve set up a special team to handle the process and to ensure the vaccines are well protected and shipped out in the most efficient way.”

Temperature sensors were put both inside and outside the container to record the temperature throughout transportation, and the team also checked to make sure the containers’ battery was fully charged before it was loaded onto the airplane.

Aviation medicine cold-chain logistics has always been the focus of global airlines. However, opportunities and challenges co-exist in the huge market.

The freight business has become a “sanctuary” for airlines in extremely difficult times, with many operating at unprecedented profits in 2020. When quarantines and blockades disrupt flights, freight costs soar, helping operators keep the remaining passenger routes open and avoid bigger deficits. IATA forecasts that airfreight revenues will triple this year to 36 percent, thanks to a 30-percent rise in average freight prices.

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China’s Cainiao Is Revolutionizing How Goods Get Delivered. Will the Rest of the World Follow Its Rules?

In this picture taken on November 6, 2020, an employee works in the warehouse of Cainiao Smart Logistics Network, the logistics affiliate of e-commerce giant Alibaba, in Wuxi, China's eastern Jiangsu province, ahead of Singles' Day, also known as the Double 11 shopping festival - the world's biggest shopping event - which falls on November 11.

In this picture taken on November 6, 2020, an employee works in the warehouse of Cainiao Smart Logistics Network, the logistics affiliate of e-commerce giant Alibaba, in Wuxi, China’s eastern Jiangsu province, ahead of Singles’ Day, also known as the Double 11 shopping festival – the world’s biggest shopping event – which falls on November 11. Photo by HECTOR RETAMAL/AFP via Getty Images

It might not be the slickest thing on four wheels, and it definitely won’t win any time trials, but Chinese logistics firm Cainiao’s new Xiao G delivery cart could be the future.

Every hour, the three-foot by five-foot automated vehicle picks up packages from Cainiao’s depot in Hangzhou—a city of 10 million people in China’s booming east—and tours a nearby neighborhood. Locals in pajamas pop down to meet the driverless cart at their nearest delivery point and type in a reference number. A door in the vehicle’s side pops open and the customer’s parcel can be retrieved. Xiao G heads onto the next stop, weaving ponderously through traffic via 360-degree sensors.

“It sends a message to customers after setting off and another when it arrives at a pick-up point so they know to come down,” says Cainiao engineer Long Fei. “Some models allow customers to drop off as well as pick up packages.”

In terms of innovations in logistics, Xiao G may not be as earth-shaking as the shipping container or the cargo jet. But it is the most visible aspect of a stealthy revolution powered by Cainiao, which was founded in 2014 and whose name means “rookie” in Chinese. The $10 billion subsidiary of e-commerce behemoth Alibaba says it is poised to transform worldwide trade.

How your purchases could be delivered in the future

The Xiao G is part of Cainiao’s plan to create a single ecosystem for all logistics firms across the world to plug into, allowing for the seamless transfer of goods between companies and jurisdictions. Just as myriad smartphone makers all operate on Google’s Android, Cainiao envisages thousands of independent logistics firms can operate within its system, sharing everything from labeling standards to customs information.

“What they’re doing is bigger than it appears to be,” says Jeffrey Towson, a private-equity investor and a professor of investment at Peking University in Beijing. “It might be the single most important thing happening in China’s digital space.”

Cainiao is far from a typical logistics firm, but is an open platform that allows for collaboration with 3,000 logistics partners and 3 million couriers—including the top 15 delivery firms inside China and 100 operating internationally. This enables merchants to choose the most cost- and time-efficient delivery option, based upon real-time data crunching of optimum firms and routes.

For consumers and manufacturers, this means a typical, 1 kg package can be sent anywhere in China within 24 hours for around 30 cents. The goal is to deliver it anywhere in the world within 72 hours for $3. (Currently, a DHL envelope under 0.5 kg from Shanghai to London costs around $100 and takes typically 5 days.) That stands to be a life-changing boon to coffee-growers in Peru, textile-weavers in Chad, medical instrument producers in Bangalore and everyone in between.

How the COVID-19 pandemic pushed logistics innovation

By putting sensors in everything—along with cameras in every warehouse and GPS on every truck and package—Cainiao aims to digitize the logistics process from top to bottom.

In China, the implications are vast for the $1.94 trillion e-commerce sector, currently the world’s largest and three times the size of its U.S. counterpart. Some 64 billion parcels were sent last year domestically but current delivery networks are piecemeal, inefficient and wasteful. Wander any Chinese city or town and it’s common to see gangs of smoking delivery drivers sorting through heaps of crumpled packages on the street. Packaging is also obscenely wasteful: order a 0.1mm protective film for your smartphone screen and you could find it turning up in a shoebox-sized carton packed with air pillows and styrofoam.

So there’s enormous scope to boost profits, and safeguard the environment, though savings on fuel, packaging and unnecessary storage. E-shipping labels alone save over 400 billion pieces of paper and offset a billion kilograms of carbon emissions annually, according to Cainiao. And then there is the cost. “China will process 70 billion parcels this year,” says Wan. “What if you can shave just one cent off each one?”

Wan is used to thinking big. After earning a doctorate at the University of Texas at Austin, he spent nine years at Amazon, eventually reporting directly to Jeff Bezos as director of global logistics strategy. He says Seattle “still feels like home” and credits Bezos for instilling an ethos of “let’s raise the bar and exceed expectations.”

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