The UK dodged a Scottish bullet
On September 18th, all eyes were on Scotland as the country decided on its fate within the United Kingdom. Fortunately for procurement and supply chain professionals in Scotland and the rest of the UK, the people of Scotland decided to keep the status quo. According to the referendum results published on September 19th, 55.3 percent of Scots said no to independence. As a result, supply chain professionals will not have to face uncertainty and additional costs caused by the potential split from the UK. According to the Confederation of British Industry director-general John Cridland, the outcome of the referendum is a sigh of relief for the business community in the UK.
Despite the ‘no’ vote, the Scottish Parliament was promised more independence, which might lead to a more empowered local public procurement system. This change should help increase the employment rate in Scotland and encourage local companies to participate in the development of local economies.
Do you think Scotland made the right decision by staying within the UK?
To read the full story, click here.
FedEx shipping rates surge
FedEx Corp announced a rise in shipping rates starting from January 5th, 2015. The increase, on average, will be 4.9 percent and will apply to all its business units for US export, US domestic and US import services. Furthermore, earlier this year, FedEx announced a dimensional weight pricing to all FedEx Ground shipments. It will also come into effect on January 5th, 2015.
The increase in shipment rates comes after FedEx published their positive first quarter financial results which showed a 6 percent growth in revenue. Shipping rates surge is part of the FedEx profit improvement program aiming to ensure strong earnings growth in the future.
To read the full story, click here.
On the way to eliminate deforestation
The five biggest palm oil producing companies announced a moratorium of palm oil sourcing via the demolition of high carbon stock forests. The statement came in advance of the UN Climate Summit, which took place in New York on September 23rd. Deforestation by the five companies will be halted for one year, to allow the high carbon stock forest study to take place. The goal of the research project is to establish a threshold for defining what constitutes a high carbon stock forest. The announcement was made after the palm oil producing companies received huge pressure from NGOs, including the Rainforest Action network (RAN). It is also perfectly in line with the pledge which has been made during the UN Climate Summit – to halve deforestation by 2020 and end it by 2030. In order to reach the goal, transparent and traceable supply chains should be created by companies directly or indirectly involved in deforestation.
Do you believe it is possible to eliminate deforestation by 2030?
To read the full story, click here.
Have a nice weekend!
