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Logistics leans on tech future

Logistics businesses are gearing up for advanced technology to streamline their operations as they are facing intense competition and high transport costs. These technologies range from telematics solutions, advanced GPS tracking systems and data analytics platforms. Thailand’s transport and logistics market is expected to reach 200 billion baht this year, up 15-20% from last year, driven by the country’s economic growth, government spending and export expansion. Varinthorn Srisukdee, commercial product director of GIS, a solutions integrator for logistics business, said the logistics business faces three challenges. The first is the market is......

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America’s largest trucking companies is quietly closing a Pennsylvania warehouse

Swift Logistics, a brokerage and asset-based logistics provider, announced layoffs this week. It said in a letter to Pennsylvania’s Department of Labor and Industry on Wednesday that it would close its warehouse in York, effective December 31, and that all 56 employees there would be laid off permanently. Swift Logistics is an entity within Knight-Swift, the fourth-largest trucking company in the US by revenue. The company did not immediately respond to inquiries from Business Insider. Knight-Swift announced third-quarter earnings on Wednesday, disclosing that adjusted operating income had plunged by 27.4% from 2018.   A downturn is hitting......

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How Technology is Influencing the Logistics Market

Evolution in technology is bringing a paradigm shift in the logistics market segment. The online world is prevailing, and among consumers it’s become habitual to have everything at fingertips. Logistic companies today are striving to deliver products anywhere between three days and five days, quicker the better. The daily evolution of technology has led to increased productivity, lower costs, and fewer errors in the supply chain. Technology is striking every sector of the logistic segment. Earlier, customers used to book a shipment and receive an estimated delivery date. Waiting was the name......

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Universal Logistics Reports Net Loss of $8.4 Million

Universal Logistics Holdings Inc. reported a third-quarter net loss of $8.4 million, compared with $15.1 million net income in the third quarter of 2018. Universal said earnings per share were minus 30 cents, compared with 53 cents per share a year ago. Revenue was $375.5 million for the period ended Sept. 28, up 0.3% from $374.3 million a year before. The Warren, Mich.-based logistics company said factors leading to the net loss included $24.8 million in a pre-tax charge for a previously disclosed legal settlement and an additional $2.2 million charge for......

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Amazon’s Shipping Costs Soar Supply Chain Tapestry Trade’s Tight Window

Expanding its own shipping services is taking a toll on Amazon.com Inc. ’s bottom line. The e-commerce market leader’s profit fell 26% in the third quarter even as revenue grew 24%, the WSJ’s Dana Mattioli reports, as world-wide shipping costs soared 46%. The $9.6 billion in shipping expenses was even more than Amazon spent in last year’s busy fourth quarter and a sign of the tumultuous changes underway in the company’s logistics operations as it handles more of its own packages. Amazon is taking on those costs as it rolls out one-day shipping for Prime subscribers, promising to......

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