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Yahoo
10 hours ago
- Business
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Chain Reaction: Michael Goldman of Caru Containers on Why ‘Sourcing Diversity is Paramount'
Chain Reaction is Sourcing Journal's discussion series with industry executives to get their take on today's logistics challenges and learn about ways their company is working to keep the flow of goods moving. Here, Michael Goldman, general manager of North America at Caru Containers, discusses how the global transportation company supports its partners in building more resilient and diversified supply chains amid ongoing disruptions and what the U.S. can learn from China. Name: Michael Goldman More from Sourcing Journal $10B Trump-Approved 'Green Corridors' Project to Drive Efficiency in US-Mexico Trade Forward Air Chairman Ousted, Potential Sale Appears in View Byte-Sized AI: Perfect Corp. and Nvidia Team Up; LuminX Gets Seed Round Title: General manager, North America Company: Caru Containers What is Caru Containers? Caru Containers is a global company with Dutch roots. Operating from 10 offices and active in over 70 countries, we trade new and used shipping containers worldwide. We lease containers to major shipping lines and purchase decommissioned fleets from some of the industry's largest players. These containers are then resold through various distribution channels for reuse in domestic commercial storage What industries do you primarily serve? We serve multiple industries including ocean shipping, international freight forwarding and domestic container storage. What is the main thing brands and retailers could do right now that would immediately improve logistics? Sourcing diversity is paramount. Business thrives on stability and predictability, but those qualities are often absent in today's post Covid-19 logistics landscape. Since the steady rise of globalization, we've entered an era shaped by disruption. Whether caused by extreme weather, labor strikes, war or self-inflicted geopolitical tensions, disruption comes in many forms. Even a summer intern will hear the phrase 'Let's not put all our eggs in one basket' within their first week. A cliché, yes, but never more relevant to strengthening international logistics resilience than it is today. When it comes to supply chain logistics challenges, there are things companies can fix, and things that are beyond their control. How can the former help the latter? First and foremost, companies need a diverse supplier portfolio. Relying on a single vendor for a specific product or service all but guarantees vulnerability to unexpected market disruptions beyond a business's control. The globally connected companies best positioned to navigate the next decade will be those with agile supply chains capable of quickly pivoting in response to disruption. What area of logistics isn't receiving the industry attention it deserves? Limited access to rail transport for small and midsized U.S. businesses—due to high pricing and volume thresholds—harms both the domestic economy and overall quality of life. Our freight rail system is largely designed to serve massive corporations, leaving smaller players reliant on trucking. The result? More congestion on our roads, higher emissions and worsening urban gridlock. Meanwhile, China's Belt and Road initiative enables goods to move by rail across two continents—from China to Europe—at costs lower than many long-haul domestic trucking routes in the U.S. As global businesses take advantage of this infrastructure, American companies should be asking both public and private sectors why similar supply chain capabilities aren't available here. What is your company doing to make the movement of goods more sustainable? As a sustainability-minded company, we understand the lack of efficiency in shipping an empty container. We have recently invested significantly in scaling our One-Way Lease capabilities, which focus on matching our empty containers to cargo destined for the same location. Combining what would have been two containers traveling the same route into one container reduces our carbon footprint. Are you optimistic about the state of supply chains in the next few years? Despite ongoing global political shifts and the resulting supply chain disruptions, I'm impressed by how swiftly businesses pivot and adapt with smarter solutions. For years, the shipping and logistics industries lagged behind in adopting digital tools, even as commercial internet use surged over the past three decades. But that's changed. Today, we see global positioning system (GPS) trackers on containers, reefer data delivered straight to beneficial cargo owners' (BCO) phones, blockchain adoption by major carriers and major strides in reducing emissions to meet International Maritime Organization (IMO) standards. Though slow to start, the industry is catching up fast. And because of that, I'm more optimistic than ever about the future of global supply chains. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Yahoo
10 hours ago
- Business
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GXO Cleared to Acquire Wincanton, Taps DHL Vet as New CEO
GXO got the green light to complete its acquisition of fellow logistics services provider Wincanton, but it will have to sell off the U.K.-based company's dedicated grocery warehousing unit to do so. In a final report issued Thursday, the U.K.'s Competition and Markets Authority (CMA) cleared the $965 million transaction after a yearlong probe into the deal. As part of the clearance, GXO says it will divest 'a small number' of Wincanton grocery contracts in the U.K. More from Sourcing Journal Chain Reaction: Michael Goldman of Caru Containers on Why 'Sourcing Diversity is Paramount' $10B Trump-Approved 'Green Corridors' Project to Drive Efficiency in US-Mexico Trade Forward Air Chairman Ousted, Potential Sale Appears in View A day after the CMA approval, GXO unveiled it found its next CEO to succeed chief executive Malcolm Wilson, who is retiring later this year. Patrick Kelleher, who most recently served as CEO for top competitor DHL Supply Chain North America, will take on the role starting Aug. 19. Kelleher had worked his way up through DHL Group's ranks since joining the company in 1992, before assuming his leading role at the North American supply chain division last July. During his time at the contract logistics provider, Kelleher had led strategic initiatives spanning transportation and supply chain planning, oversaw DHL's deployment of advanced robotics throughout the warehouse, including the Boston Dynamics Stretch robot and the Locus Robotics LocusBots. Kelleher also presided over four M&A transactions in the past year alone, including May's acquisition of retail logistics specialist IDS Fulfillment and the deal to acquire the reverse logistics division of Inmar Intelligence. 'Patrick is a world-class operator with the relevant experience to lead GXO through its next phase of growth,' said Brad Jacobs, chairman of GXO's board of directors, in a statement. 'His proven track record and deep expertise in engineered solutions, automation, and cutting-edge contract logistics make him uniquely qualified to drive value for our customers and shareholders. We're thrilled to welcome him as our new CEO.' In February, at the Manifest supply chain and logistics conference in Las Vegas, Kelleher told Sourcing Journal that he believed the contract logistics market is primed for growth, namely due to the ongoing demand for warehouse space. 'It's about being thoughtful around decisions that are made in standing up additional warehousing capacity. That is an inflexible asset in terms of being able to move from one location to another,' Kelleher said. 'We need to be picking the right location, making sure that is data informed, working with the breadth of customers that we have to have a good view of the different markets that we're participating in, or should be participating in—to make those long-term investments.' The logistics provider also raised its 2025 guidance on Thursday, including expected synergies of the Wincanton deal, which remains subject to integration in the third quarter. Organic revenue growth is now forecast to be between 3.5 percent and 6.5 percent, up from a previous range of 3 percent to 6 percent. Adjusted EBITDA is expected to be in the range of $860 million to $880 million, increase from the prior scope of $840 million to $860 million. 'Across our operations, we are seeing better than expected volumes and accelerated productivity gains in existing operations and new startups,' said Wilson. The combined news sent GXO's stock up more than 11 percent in Friday morning trading. As for the Wincanton deal, the CMA still has to approve a buyer for the dedicated grocery warehousing services, which refer to facilities that are used exclusively by a single customer. 'Warehousing services play a crucial role in ensuring the seamless movement of goods across the U.K., allowing our supermarkets to maintain well-stocked shelves with thousands of items we buy every day,' said Richard Feasey, chair of the CMA's independent inquiry group. 'Healthy competition in this market is key to managing costs for supermarkets and grocers and improving their performance—ultimately ensuring consumers pay the best possible prices for products in stores.' With the acquisition cleared, teams at GXO and Wincanton are permitted to collaborate on specified ongoing aerospace and defense proposals in the U.K. effective immediately. No further regulatory reviews are required. GXO has been busy as it awaited the ruling from the CMA. Earlier this month, the company also introduced an enhanced version of its multi-tenant warehousing solution GXO Direct to U.S. customers. Debuting in North America in 2018, GXO Direct is designed to enable retail customers to use the company's network of warehouses to position goods closer to end consumers for one-day delivery. The newest update integrates service capabilities GXO acquired from the $181 million acquisition of e-commerce order fulfillment platform PFSweb, including high-touch contact center services, secure payments and fraud protection and distributed order orchestration systems. In May, the company also extended its partnership with supply chain solutions provider Blue Yonder to power its warehouse management system (WMS) capabilities. Errore nel recupero dei dati Effettua l'accesso per consultare il tuo portafoglio Errore nel recupero dei dati Errore nel recupero dei dati Errore nel recupero dei dati Errore nel recupero dei dati
