QAD Precision News Round-Up for 14 June 2019
In the QAD Precision News Round-Up: 14 June 2019, Scania unveils a futuristic transformer vehicle; the UK and South Korea outline a free trade deal; China talks tough on trade war; IBM announces a pharmaceutical blockchain initiative; plus we look at intellectual property and export controls for universities.
SCANIA UNVEILS NEW CONCEPT VEHICLE NXT
This week, Scania released a futuristic concept vehicle called NXT. NXT can transform to fulfill a number of functions, including transporting commuters, delivering goods and collecting rubbish. The electric self-driving urban concept vehicle has a modular design. This means it can change shape to meet different requirements. Scania’s President and CEO Henrik Henriksson noted that the technologies needed to successfully deploy such a vehicle “have yet to fully mature.” He further stated that it was important to Scania to build NXT “to visibly and technically demonstrate ideas of what is within reach.” For more information, please see Scania.
UK AND SOUTH KOREA OUTLINE FREE TRADE AGREEMENT
This week, the UK and South Korea signed an outline of a free trade agreement (FTA). The preliminary deal is similar in scope to the existing FTA between South Korea and the European Union. The agreement aims to maintain the existing trade relationship after the UK leaves the bloc. South Korea’s main exports to the UK are cars and car parts, and the FTA will cover these. Seoul exported goods to the value of £4bn to the UK in 2018, while the UK sold about £6bn worth of goods in South Korea. For more information, please see the BBC.
CHINA IS “NOT AFRAID” OF A TRADE WAR
This week, US President Donald Trump announced that he was prepared to impose further tariffs on an additional $300 billion of Chinese goods if there is insufficient progress in trade talks with Chinese President Xi Jinping at the G20 summit later this June. China not yet announced that President Xi will meet President Trump during the G20. Foreign Ministry spokesperson Geng Shuang refused to confirm a Xi-Trump meeting at the summit. However, he warned that China would respond should new tariffs be levied. “China does not want to fight a trade war, but we are not afraid of fighting a trade war,” he said. “If the United States only wants to escalate trade frictions, we will resolutely respond and fight to the end.” In addition to the ongoing tariffs dispute, the US has angered the Chinese government by blacklisting Huawei Technologies Co Ltd. The blacklist effectively bans US companies from conducting business with the telecoms giant. For further information, please see Reuters.
IBM ANNOUNCES DRUG BLOCKCHAIN PILOT
This week, IBM announced its latest blockchain initiative, this time to track the drug supply chain. IBM, in partnership with KPMG, Merk and Walmart, is planning a blockchain use case to track certain drugs as they move through the supply chain. Each package of the drugs will have a unique identifier. This should enable the drug to be tracked from the manufacturer to the pharmacy, and on to the consumer. The blockchain will be used to provide an immutable record and audit trail of each transaction along a drug’s journey. For more details, please see TechCrunch.
QAD Precision News
HIGHER EDUCATION, INTELLECTUAL PROPERTY AND EXPORT CONTROLS
This April, the Japanese government announced plans to formulate guidelines for universities that collaborate with foreign companies on joint research projects. Japan’s government will ask institutes of higher education to develop legal compliance systems to prevent technology drain. Technology drain can happen when an organization — or a university — does not protect their intellectual property (IP). This can occur because an organization fails to patent research, as well as through theft, negligence or by accident. Japan — like many countries and political entities, including the United States, China and the European Union — already has export controls in place for military applications, sensitive technologies and dual-use goods. These laws apply to universities as well as private enterprises. However, while companies and government bodies have systems in place to mitigate compliance violations, universities often lack integrated and institute-wide controls. Universities, like commercial enterprises, need systems to prevent the loss of intellectual property and compliance missteps. In this QAD Precision Report we look at how universities can address these critical issues. To read the full report, please click here.
UNIVERSITY SHIPPING SIMPLIFIED: JOIN OUR WEBINAR
University researchers and administrative staff are not professional shippers. Many ship parcels on an ad hoc basis and they tend to use a single carrier for all shipments. As a result, universities often have a poor understanding of their parcel spend.
Join us on July 11, 2019 at 10 a.m. CDT for a 30-minute webinar where QAD Precision’s Trade Compliance & Transportation Management experts will discuss how universities can simplify shipping, control costs, limit compliance exposure and improved research chain visibility. To register for the webinar, please click here.
LET’S KEEP IN TOUCH
To subscribe to the Precision Report, or to receive notifications about our events, webinars and news, please click here.