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QAD Precision News Round-Up: 26 April 2019

In the QAD Precision News Round-Up: 26 April 2019, key Brexit vote set for next week; US ends Iran oil sanctions waivers; fresh sanctions for Venezuela; and Amazon to roll out one-day delivery; plus we look at five shipping challenges for life sciences companies.

Global Trade

BREXIT VOTE SET FOR NEXT WEEK

UK Prime Minister Theresa May is to give Members of Parliament (MPs) a vote on a key piece of Brexit legislation next week. The PM is to table the Withdrawal and Implementation Bill (WAB). Parliament must pass the WAB in order to ratify Mrs May’s Brexit deal. However, the PM cannot hold another so-called “meaningful vote” on her deal. This is because Parliament rules do not allow an unchanged proposal to be put to MPs repeatedly in the same session. Despite this, Mrs May hopes to ratify her deal before next month’s European Parliament elections. For more detail, please see The Guardian.

Retail

AMAZON TO OFFER ONE-DAY SHIPPING WITH PRIME

This week, Amazon announced plans to cut delivery times to one day for worldwide customers using Prime. Rival retailers such as Walmart and Target have improved their delivery times in the US. They now offer two-day shipping on many items. Accordingly, Amazon is seeking to differentiate itself from the competition with one-day shipping. In some US cities, and in parts of the UK, one-day delivery is the default. Amazon will spend $800m improve delivery times. For more information, please click here.

Sanctions

US ENDS IRAN OIL SANCTIONS WAIVERS

This week, the US government decided to end sanctions waivers for countries buying oil from Iran. In 2018, President Donald Trump withdrew the US from the 2015 Iran nuclear deal negotiated by his predecessor, President Barack Obama. Washington reinstated sanctions, but nevertheless granted exemptions to China, India, Japan, South Korea and Turkey. These are set to expire in May. Iran insists that the US sanctions are illegal. The US hopes to reduce Iranian oil exports to zero. Moreover, Washington aims to bring Iran back to the negotiating table. The US wants a different deal that covers Iran’s nuclear activities and ballistic missile programme. For more details, please see the BBC.

US IMPOSES EXTRA SANCTIONS ON VENEZUELA

In more sanctions news, this week the US government imposed more sanctions on Venezuela. The US Treasury Department’s Office of Foreign Assets Control (OFAC) sanctioned the Banco Central de Venezuela and its director, Iliana Josefa Ruzza Teran. Furthermore, Washington also froze all the US assets of Banco Central de Venezuela. US citizens and residents may not do business with the bank or its director. The US aims to deny the government of Nicolas Maduro access to the US financial system. For more information, please click here.

QAD Precision News

LIFE SCIENCES SHIPPING: 5 CHALLENGES AND 5 QUESTIONS TO ASK

The life sciences industry is forecast to grow to more than $10 trillion dollars by 2022. This is largely driven by growth in emerging markets. Life sciences shipping has also become more complex because of increased regulatory and handling requirements. In addition, the trend towards home health care has changed the way life sciences companies distribute their products. Consequently, logistics managers who handle life sciences shipping face a number of challenges that impact where and how they send products. In the latest QAD Precision Report, we look at five challenges of life sciences shipping and five questions to ask if you are considering software solutions. To read the report, please click here.

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