Procurement and Supply Chain Highlights from the Recent Week You Should Know About:
- Tariffs will cost Apple: Apple CEO, Tim Cook, has been relatively quiet on the current tariff situation, but during the latest earnings report, he weighed in on the topic: tariffs could cost Apple over US$900 million.
Despite announcing positive financial numbers, Apple knows there are tough seas ahead.
Amazon also reported positive numbers but also shared their reservations for the coming financial turbulence. - US manufacturing shrinks: The US manufacturing industry saw the lowest activity in April in the most recent five months.
- Tariffs costly for small businesses: The on-again, off-again tariff game being played is becoming a costly game for many small businesses.
Many are having to purchase larger quantities of supplies to delay the effects of tariffs as long as possible, but hurts cash flow and finances.
See the effects of tariffs on this specialty coffee business. - UPS downsizing accelerated: Plans to reduce their workforce due to decoupling from Amazon, UPS’ plans to lay off more than 20,000 workers has been accelerated with the current market downturn.
UPS CEO, Carol Tomé, also mentioned a focus on relying less on “labor” going forward. Corporate speak for more robots and less humans.
