Connect with us

Technology

MANUFACTURING ACTIVITY WORLDWIDE JUMPED IN MAY, SPURRED BY STRONGER DEMAND ACROSS MAJOR ECONOMIES, INDICATING ROBUST OUTLOOK FOR H2 2024: GEP GLOBAL SUPPLY CHAIN VOLATILITY INDEX

Published

on

Index breaks into positive territory for the first time in 14 months as global manufacturers report stretched capacity Demand for raw materials, commodities and components accelerates, a positive indicator for the rest of 2024Factory purchasing in Asia rising at the fastest rate since December 2021, driven by India, China and South KoreaSlack in European markets rapidly shrinking, indicating an advancement of the region’s manufacturing recoveryGlobal reports of order backlogs rising because of staff shortages at their highest since late 2022, signaling future price pressures

CLARK, N.J., June 13, 2024 /PRNewswire/ — The GEP Global Supply Chain Volatility Index — a leading indicator tracking demand conditions, shortages, transportation costs, inventories and backlogs based on a monthly survey of 27,000 businesses — increased notably in May to 0.21, from -0.18 in April. Crucially, this was the first time since March 2023 that the index is in positive territory, signaling that global vendors are working at capacity and that supply chains are at their busiest for more than a year.

Interpreting the data:
Index > 0, supply chain capacity is being stretched. The further above 0, the more stretched supply chains are.
Index < 0, supply chain capacity is being underutilized. The further below 0, the more underutilized supply chains are.

A key factor behind the index’s increase in May was a further improvement in global manufacturing demand, leading factories to ramp up their purchases of raw materials, commodities and components. Purchasing growth was especially strong in Asia, particularly in key exporting countries such as China, India and South Korea.

Suppliers to North America also got busier during May, with their capacity slightly stretched as a result. This partly reflected more supportive demand conditions for businesses in the U.S. and Mexico. The European market, which has been a laggard since mid-2022, improved notably, especially in the U.K.

Globally, reports of backlogs increasing because of staff shortages at suppliers of critical goods and inputs hit their highest in almost a year-and-a-half in May, suggesting capacity expansion is required to meet existing and future orders. Overall, this paints an optimistic picture for the outlook in H2 2024 for global supply chains.

“The broad-based nature of the breakout we’re seeing in May is a hugely encouraging sign for the global economy going into the second half of 2024,” explained Mudit Kumar, vice president, GEP Consulting. “If this trend continues, businesses can expect renewed efforts by vendors to raise prices, especially given the recent surge in the cost of many commodities.”

MAY 2024 KEY FINDINGS

DEMAND: Global demand for raw materials, commodities and components is now trending in line with its long-term average, indicating that global manufacturing is now moving toward an upswing in the business cycle. At the forefront of growth is Asia, led by China, India and South Korea.

INVENTORIES: The inventory cycle has stabilized, with firms neither building up stocks excessively nor aggressively destocking to improve cash flow and cut costs.

MATERIAL SHORTAGES: Global item supply remains robust, with reports of shortages at low levels.

LABOR SHORTAGES: The frequency at which global suppliers reported a rise in their backlogs due to labor shortages was at its greatest in nearly a year-and-a-half, indicating that capacity expansion is required to sustainably meet current and future demand.

TRANSPORTATION: Global transportation costs remain stable, close to historically typical levels.

REGIONAL SUPPLY CHAIN VOLATILITY

NORTH AMERICA: Index rose to 0.09, from -0.30, its highest since February. May data showed stronger demand from manufacturers in the U.S. and Mexico, exerting more pressure on North American suppliers.

EUROPE: Index rose to -0.13 from -0.55, a 14-month high and signaling a substantial reduction in slack across Europe’s supply chains. This suggests the region’s manufacturing downturn continues to recede.

U.K.: Index rose to 0.15, from -0.47. This showed increased capacity pressures at U.K. suppliers for the first time since January 2023.

ASIA: Index rose to 0.19, from 0.07. Suppliers to Asia are the busiest globally because of particularly strong demand pressures arising from major markets such as China, India and South Korea.

For more information, visit www.gep.com/volatility.

Note: Full historical data dating back to January 2005 is available for subscription. Please contact economics@spglobal.com.

The next release of the GEP Global Supply Chain Volatility Index will be 8 a.m. ET, July 12, 2024.

About the GEP Global Supply Chain Volatility Index

The GEP Global Supply Chain Volatility Index is produced by S&P Global and GEP. It is derived from S&P Global’s PMI® surveys, sent to companies in over 40 countries, totaling around 27,000 companies. The headline figure is a weighted sum of six sub-indices derived from PMI data, PMI Comments Trackers and PMI Commodity Price & Supply Indicators compiled by S&P Global.

A value above 0 indicates that supply chain capacity is being stretched and supply chain volatility is increasing. The further above 0, the greater the extent to which capacity is being stretched.

A value below 0 indicates that supply chain capacity is being underutilized, reducing supply chain volatility. The further below 0, the greater the extent to which capacity is being underutilized.

A Supply Chain Volatility Index is also published at a regional level for Europe, Asia, North America and the U.K. For more information about the methodology, click here.

About GEP

GEP® delivers AI-powered procurement and supply chain solutions that help global enterprises become more agile and resilient, operate more efficiently and effectively, gain competitive advantage, boost profitability and increase shareholder value. Fresh thinking, innovative products, unrivaled domain expertise, smart, passionate people — this is how GEP SOFTWARE™, GEP STRATEGY™ and GEP MANAGED SERVICES™ together deliver procurement and supply chain solutions of unprecedented scale, power and effectiveness. Our customers are the world’s best companies, including more than 550 Fortune 500 and Global 2000 industry leaders who rely on GEP to meet ambitious strategic, financial and operational goals. A leader in multiple Gartner Magic Quadrants, GEP’s cloud-native software and digital business platforms consistently win awards and recognition from industry analysts, research firms and media outlets, including Gartner, Forrester, IDC, ISG, and Spend Matters. GEP is also regularly ranked a top procurement and supply chain consulting and strategy firm, and a leading managed services provider by ALM, Everest Group, NelsonHall, IDC, ISG and HFS, among others. Headquartered in Clark, New Jersey, GEP has offices and operations centers across Europe, Asia, Africa and the Americas. To learn more, visit www.gep.com.

About S&P Global

S&P Global (NYSE: SPGI) S&P Global provides essential intelligence. We enable governments, businesses and individuals with the right data, expertise and connected technology so that they can make decisions with conviction. From helping our customers assess new investments to guiding them through ESG and energy transition across supply chains, we unlock new opportunities, solve challenges and accelerate progress for the world. We are widely sought after by many of the world’s leading organizations to provide credit ratings, benchmarks, analytics and workflow solutions in the global capital, commodity and automotive markets. With every one of our offerings, we help the world’s leading organizations plan for tomorrow, today.

Disclaimer

The intellectual property rights to the data provided herein are owned by or licensed to S&P Global and/or its affiliates. Any unauthorised use, including but not limited to copying, distributing, transmitting or otherwise of any data appearing is not permitted without S&P Global’s prior consent. S&P Global shall not have any liability, duty or obligation for or relating to the content or information (“Data”) contained herein, any errors, inaccuracies, omissions or delays in the Data, or for any actions taken in reliance thereon. In no event shall S&P Global be liable for any special, incidental, or consequential damages, arising out of the use of the Data. Purchasing Managers’ Index™ and PMI® are either trademarks or registered trademarks of S&P Global Inc or licensed to S&P Global Inc and/or its affiliates.

This Content was published by S&P Global Market Intelligence and not by S&P Global Ratings, which is a separately managed division of S&P Global. Reproduction of any information, data or material, including ratings (“Content”) in any form is prohibited except with the prior written permission of the relevant party. Such party, its affiliates and suppliers (“Content Providers”) do not guarantee the accuracy, adequacy, completeness, timeliness or availability of any Content and are not responsible for any errors or omissions (negligent or otherwise), regardless of the cause, or for the results obtained from the use of such Content. In no event shall Content Providers be liable for any damages, costs, expenses, legal fees, or losses (including lost income or lost profit and opportunity costs) in connection with any use of the Content.

Media Contacts

Derek Creevey

Joe Hayes

Director, Public Relations

Principal Economist

GEP

S&P Global Market Intelligence

Phone: +1 732-382-6565

Phone: +44-1344-328-099

Email: derek.creevey@gep.com

Email: joe.hayes@spglobal.com

 

View original content to download multimedia:https://www.prnewswire.com/news-releases/manufacturing-activity-worldwide-jumped-in-may-spurred-by-stronger-demand-across-major-economies-indicating-robust-outlook-for-h2-2024-gep-global-supply-chain-volatility-index-302171142.html

SOURCE GEP

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Technology

Redefining Charging: Anker Innovations Showcases Smart and Sustainable Solutions at CES and Unveils New Lineup in Taiwan

Published

on

By

BELLEVUE, Wash., Jan. 13, 2025 /PRNewswire/ — Anker Innovations, a global leader in mobile charging and consumer electronics, today unveiled its latest groundbreaking charging innovations at the Consumer Electronics Show (CES), held January 7-10 in Las Vegas. Among the featured products from Anker mobile charging and Anker SOLIX are the 25,000mAh Anker Power Bank, Anker 140W Charger, EverForest 2 Electric Cooler and Solar Umbrella, redefining fast-charging standards for users worldwide.

The products mentioned above will soon be available in Southeast Asia as well. “As the world’s No.1 mobile charging brand, we are grateful for the support of Southeast Asian consumers,” said Leon Wu, Head of Anker Innovations Southeast Asia. “Our mission is to ignite possibilities through ultimate innovation, and we are committed to providing products that exceed consumer expectations in Southeast Asia.”

Anker Innovations, a global leader in fast-charging technologies, develops products for home, office, and on-the-go charging. By integrating Gallium Nitride (GaN) technology and proprietary features, Anker delivers a safer, faster, and more sustainable charging experience. The Anker Prime Charging Docking Station (14-in-1, 160W) won the CES 2025 Innovation Award in the Computer Peripherals & Accessories category.

Leading the Future of Charging Technology

Anker’s new line of high-speed USB-C chargers are available exclusively on apple.com and at select Apple Store in Taiwan, designed to meet a variety of charging needs and can efficiently charge Apple Watches, AirPods,iPhones, iPads, MacBooks, and more, making them the perfect companion for Apple devices.

As a global pioneer in charging technologies, Anker continues to push the boundaries of what’s possible. Featuring cutting-edge GaN technology, these latest products deliver faster speeds, reduced heat generation, and more compact designs compared to traditional silicon-based chargers.

More importantly, these innovations are designed with user insights in mind, transforming charging devices from cold hardware into interactive and connected ecosystems, solidifying Anker’s status as a leader in next-generation charging technology.

Anker has recently launched its new series in Taiwan, including the Anker MagGo Power Bank (10K, Slim), Anker Prime Power Bank (9.6K, 65W, Fusion), and Anker MagGo Power Bank (10K, 35W, For Apple Watch). Enjoy a NT$100 discount on new products with pre-orders from January 10 to February 9 on the official website.These new products are designed to provide Taiwanese consumers with an enhanced experience and greater benefits, offering superior convenience, performance, and functionality.

Anker MagGo Power Bank (10K, Slim)

Anker’s slimmest Magnetic power bank yet, the MagGo Power Bank (10K, Slim), measures just 0.58 × 2.78 × 4.09 inches, offering maximum portability. Featuring ultra-fast 15W Qi2-certified wireless charging, it can charge an iPhone 16 Pro from 0 to 50% in just 51 minutes. Additionally, its 30W USB-C port ensures broad device compatibility, showcasing Anker’s innovation in mobile charging.

The power bank combines a sleek matte UV finish with a sturdy metal frame, offering both durability and an ergonomic design. Aerogel thermal insulation keeps it cool to the touch, and its 10,000mAh capacity provides 1.7 times full charge for an iPhone 16 Pro, making it ideal for daily use and travel.

Anker MagGo Power Bank (10K, Slim) suggested retail price: NT$1,990.

Anker Prime Power Bank (9.6K, 65W, Fusion)

Anker continues to push the boundaries of innovation with the Anker Prime Power Bank (9.6K, 65W, Fusion), delivering powerful 65W high-speed charging. Even in power bank mode, the single Type-C port can fast charge a laptop at 65W. With its dual-function design, it serves both as a compact 9,600mAh power bank and a wall charger, offering unmatched flexibility for users on the go.

Despite its small size, weighing just 10.76 oz, the Anker Prime Power Bank packs monumental power, easily fitting into any pocket or bag. The 1.3-inch smart LCD display provides real-time updates on battery levels and power output, ensuring users stay fully informed during charging. This combination of portability, power, and smart functionality underscores Anker’s commitment to innovation in charging technology.

Anker Prime Power Bank (9.6K, 65W, Fusion) suggested retail price: NT$3,290.

Anker MagGo Power Bank (10K, 35W, For Apple Watch)

The MagGo Power Bank (10K, 35W, For Apple Watch) is designed to provide all-around charging for Apple devices with its 10,000mAh capacity. It features an adjustable, Apple-certified Apple Watch charger and a built-in USB-C cable, ensuring fast, on-the-go power. The power bank can charge an Apple Watch Series 10 from 0 to 30% in just 20 minutes, while its 30W USB-C port supports simultaneous charging of other devices, even more impressive, the input power is up to 30W, and the power bank supports simultaneous charging and recharging.

Compact and travel-friendly, the MagGo Magnetic Power Bank measures just 3.7 × 2.0 × 1.3 inches, making it as small as a standard mouse and fully flight-approved for easy portability. With the capacity to deliver 1.8 times full charges for an iPhone 16 Pro and 4 times full charges for an Apple Watch Series 10, this power bank showcases Anker’s commitment to combining innovation with convenience for Apple users.

Anker MagGo Power Bank (10K, 35W, For Apple Watch) suggested retail price: NT$2,490.

About Anker

Anker is the world’s #1 mobile charging brand and a developer of high-speed charging technologies for the home, car, and on the go. This includes wall plugs, wireless chargers, car chargers, power banks, cables, and more. Find out more about Anker at anker.com.

View original content to download multimedia:https://www.prnewswire.com/apac/news-releases/redefining-charging-anker-innovations-showcases-smart-and-sustainable-solutions-at-ces-and-unveils-new-lineup-in-taiwan-302348747.html

SOURCE Anker Innovations

Continue Reading

Technology

Ishan Technologies Wins Frost & Sullivan’s 2024 Emerging Company of the Year Award in Network Services

Published

on

By

AHMEDABAD, India, Jan. 13, 2025 /PRNewswire/ — Ishan Technologies, a leading ICT company specializing in system integration, network services, data center, cloud solutions, and cybersecurity, has been honored with the 2024 India Network Services Emerging Company of the Year Award by Frost & Sullivan. This prestigious recognition highlights Ishan Technologies’ exceptional performance and contribution to the network services industry over the past year.

Ishan Technologies has consistently demonstrated excellence through innovative solutions, customer-focused services, and a strong commitment to delivering value to its clients. By enabling businesses to thrive with reliable network services, the company has solidified its position as a key player in the Indian ICT sector.

On receiving the award, Mr. Pinkesh Kotecha, Chairman and Managing Director of Ishan Technologies, said, “We are truly honored to receive the 2024 India Network Services Emerging Company of the Year Award from Frost & Sullivan. At Ishan Technologies, we strive to stay ahead of the curve, continuously evolving to meet the dynamic needs of the ICT landscape. This award motivates us to further our commitment to innovation, sustainability, and exceptional customer experiences. We extend our heartfelt gratitude to Frost & Sullivan for acknowledging our efforts and to our employees, customers, and stakeholders for their unwavering support.”

The Frost & Sullivan Best Practices Awards recognize industry leaders who set benchmarks through their unique strategies and impactful contributions. Recipients are identified through comprehensive research and evaluation based on criteria such as market disruption, competitive differentiation, leadership, customer experience, and brand equity.

“Ishan Technologies has expanded its operations across 100+ locations in India, addressing the critical network and cloud connectivity challenges faced in industry. By partnering with Google Cloud for secure service access and Versa Networks for AI/ML-powered SASE solutions, they ensure the availability of 99.99% and provide enhanced network performance. These collaborations focus on secure, high-speed broadband, network connectivity, and cloud services, driving business growth, security, and digital transformation across India,” said Sapan Agarwal, Global Senior Vice President, Frost & Sullivan.

About Ishan Technologies

Ishan Technologies is a leading ICT provider with a pan-India presence, specializing in communication, network, cloud, and cybersecurity solutions. With over 20 years of experience, it is known for its expertise in system integration, data center services, and ISP capabilities, providing cutting-edge solutions that empower businesses to thrive in the digital age. With over two decades of experience and a commitment to innovation, Ishan continues to drive digital transformation for its clients across India.

For more information about Ishan Technologies, please visit our website www.ishantechnologies.com.

 

View original content:https://www.prnewswire.com/in/news-releases/ishan-technologies-wins-frost–sullivans-2024-emerging-company-of-the-year-award-in-network-services-302349031.html

Continue Reading

Technology

Huawei Unveils a New Era of Foldable Excellence at ‘Unfold the Classic’ Launch in Dubai

Published

on

By

DUBAI, UAE, Jan. 13, 2025 /PRNewswire/ — Huawei Consumer Business Group unveiled several highly anticipated products that ushers in a new era of flagship foldable excellence, as part of the “Unfold the Classic” HUAWEI Flagship Product Launch held in Dubai on December 12.

 

Amongst the brand new innovations include the HUAWEI Mate X6, HUAWEI nova 13 series, HUAWEI FreeBuds Pro 4, HUAWEI FreeClip Rose Gold and HUAWEI MatePad 11.5. This comprehensive suite of products represents a new era of flagship innovation, showcasing Huawei’s commitment to continuous advancement and elevating consumer engagement.

HUAWEI Mate X6: Makes a Stunning Global Debut

Headlining the HUAWEI Flagship Product Launch event is the next generation of their Mate series foldables, the HUAWEI Mate X6. An all-rounded and advanced smartphone that brings significant upgrades to display, camera, durability, user experience, and more.

HUAWEI Mate X6’s Space-Age Orbit around the camera layout gets inspiration from planetary orbits, symbolizing the infinite possibility of the future. The exclusive Nebula Gray edition is named after its nebula texture, smooth to the touch, which is crafted via Micro-Nano 3D Topography using an innovative material called Vegan Fiber. The HUAWEI Mate X6 is also available in Nebula Red and Black.

An innovative distributed architecture delivers a huge leap in HUAWEI Mate X6’s network, cooling, and durability.

The incredible camera system features a new Ultra Chroma Camera with 1.50 million spectral channels, a 50 MP Ultra Aperture Camera that supports a 10-size physical aperture, a 40 MP ultra-wide-angle camera, and a 48 MP telephoto micro camera, enabling breakthrough foldable photography.

HUAWEI Mate X6 introduces Live Multi-task, a new way to multi-task efficiently. With this feature, users can run three applications simultaneously with the screen unfolded in an expanded view.

HUAWEI XMAGE Dubai Gala: A Heartwarming World

Starting from Dubai on 9th May, after stops in Kuala Lumpur, Mexico City, Hong Kong, Shanghai, Shenzhen and Istanbul, A Heartwarming World — HUAWEI XMAGE Dubai Gala is the conclusion of the HUAWEI XMAGE worldwide shows in 2024. It showcased this year’s extraordinary winning works, which inspire consumers to use innovative HUAWEI products to create, to capture, and to challenge.

View original content to download multimedia:https://www.prnewswire.com/news-releases/huawei-unveils-a-new-era-of-foldable-excellence-at-unfold-the-classic-launch-in-dubai-302349032.html

SOURCE HUAWEI

Continue Reading

Trending