Flexport, a global supply chain solutions provider, is eliminating management positions and reducing the size of its fulfillment team, according to an internal memo first seen by The Information.
Flexport CEO Ryan Petersen told staff on Wednesday the company still had work to do to hit its growth and profitability goals and needed to “move faster to get there.”
“These changes will increase our velocity in that direction, and set us up for a successful next few years of profitable growth,”...
Freight broker and 3PL HTL Freight announced it has acquired 4PL CTS Logistics.
Windham, New Hampshire-based CTS Logistics is a 35-year-old, family-run company providing managed transportation and brokerage solutions. The company’s services also include warehousing and freight payment processing.
Financial terms of the transaction were not disclosed. The deal was inked in February, and the two companies have been working on integrating operations and systems since. This is HTL Freight’s fourth...
https://www.freightwaves.com/news/3pl-htl-freight-acquires-4pl-cts-logistics
Multi-modal supply chain solutions provider Hub Group Inc. posted a decline in second-quarter revenue and lowered its outlook for full-year earnings as the freight market continues to challenge transportation providers, company officials said.
Management cited lower revenue per load and decreasing revenue in its intermodal segment as factors impacting second quarter results.
“We just feel that the market, both the macro and the free market, is very hard to predict,” Kevin Beth, Hub Group’s CFO,...
https://www.freightwaves.com/news/hub-group-posts-decline-in-q2-earnings-lowers-2024-outlook
Getting products to their end destination as fast as possible has always been a top goal of shippers. Over the past five years especially, businesses have had a greater incentive to hasten speed to market. While e-commerce sales ballooned during the pandemic in 2020 due to consumers staying home and buying online, it continues to flourish now. In 2022, e-commerce sales surpassed $1 trillion in the U.S.
Ed Smith, VP of distribution and fulfillment at Averitt, sat down with FreightWaves’ Michael...
https://www.freightwaves.com/news/increasing-velocity-to-market-with-micro-fulfillment
Signs of a supply chain slowdown are appearing, and many shippers are scrambling to pivot operations that they were finally starting to normalize after two years of pandemic challenges.
Buddy Sexton, chief commercial officer at OptiX, an international logistics solutions provider with offices in Houston, Texas and Savannah, Georgia, likened the supply chain coming out of the pandemic to a clogged water line.
“The dramatic halt to global trade at the start of COVID-19 backed up an enormous volume...
What does it take to maintain success in today’s competitive transportation industry? The short answer is to always be kinetic.
Michelle Halkerston, owner and CEO of Hassett Logistics, knows a thing or two about keeping a business at the forefront. She stopped by the FreightWavesTV studio to discuss Hassett’s transformative efforts with FreightWaves lead economist Anthony Smith.
“As a midsized player, Hassett is different,” Halkerston said. “One of the things we did after buying the company was...
https://www.freightwaves.com/news/hassett-logistics-uses-core-strengths-and-competencies-to-grow
Autonomous supply chain platform provider Vorto announced Thursday its new platform, Reload, which is designed to solve inefficiencies and increase sustainability in supply chains and logistics from procurement to final delivery.
Vorto CEO Priyesh Ranjan told FreightWaves that Reload is an industry-agnostic “centralized autonomous supply chain platform that does everything,” including predicting demand for suppliers, finding fleets and drivers for outbound transportation, and automating...
https://s29755.pcdn.co/news/vortos-platform-solves-love-triangle-of-supply-chains-ceo-says
DSC Logistics, a third-party logistics provider and supply chain management firm near Chicago, was targeted in a ransomware attack, the company told FreightWaves.
DSC, which is owned by South Korean supply chain management conglomerate CJ Logistics, disclosed the cyberattack after a ransomware gang threatened to expose stolen data on a leak site. The firm specializes in consumer packaged goods and food logistics and helps large corporations manage internal supply chains.
“Fortunately, as a...
https://www.freightwaves.com/news/ransomware-attack-targets-major-us-logistics-firm-dsc