Week of August 21st, 2023
Linking supply chain news with dangerous goods compliance
Market growth across different industries presents tremendous opportunities for businesses. But it can also bring a wide range of supply chain challenges that must be addressed to capitalize on that potential.
Let’s examine some recent industry news.
SUPPLY CHAIN NEWS
- With Growth on the Horizon, Supply Chain Leaders Must Become Forward-Thinking: As organizations adapt to market changes and growing demands, supply chain leaders must develop a more forward-looking approach to advance company goals.
- 216 Transportation and Logistics Companies Make Inc. 5000 List: More than 200 transportation and logistics companies made the 2023 Inc. 5000 list of the fastest-growing privately held firms in the U.S.
- Europe’s Electric Vehicle Market Continues Rapid Growth: Europe’s EV market saw impressive growth in June, with over 311,000 EV registrations, a 42% increase compared to the same month in 2022.
- Wage Growth, Special Promotions Boost U.S. July Retail Sales: NRF chief economist Jack Kleinhenz explains that retail sales had been slowing down, but July witnessed a revival thanks to the special deal days orchestrated by several retailers.
- 13 Growth Opportunities for AI in Manufacturing: A new report outlines what the future may hold for manufacturers implementing AI in their operations.
- Electric Vehicle Investments and Jobs Continue to Soar: After 1-year since the passage of the Inflation Reduction Act, data indicates the U.S. market for EV and battery manufacturing continues to grow.
OUR PERSPECTIVE
- Market growth brings compliance challenges. The growth of e-commerce, the booming electric vehicle market, and the rise in consumer goods that utilize lithium batteries have led to more dangerous goods (DG) being shipped, making compliance more challenging and essential than ever. Moving DG is a complex, time-consuming, and challenging process, and in today’s highly competitive environment, organizations that ignore DG compliance put their operational efficiency, competitive agility and bottom line at risk.
- Compliance impacts your competitive position. Hazmat compliance is not just a cost of doing business but a value-added component that contributes to profitability. Businesses that ship DG effectively have a competitive edge by offering products that other companies cannot and shipping those products safely and faster than competitors. This allows businesses to grow, scale and expand product lines faster while maintaining a safe and efficient supply chain.
- Automation supports growth. Forward-thinking companies must have the processes and infrastructure to support growth. Automating and standardizing DG shipping processes enables smooth and efficient operations while creating supply chain resilience and business continuity. By establishing repeatable processes with DG shipping technology, organizations can put in place steps that allow them to ship DG from multiple locations, ship new products compliantly and scale along with increasing customer demand.
To learn more about dangerous goods software or how to establish a safer, more compliant supply chain, visit https://www.labelmaster.com.
Have questions about dangerous goods transport? Call the Labelmaster Regulatory Hotline at 1.800.621.5808.
