In the QAD Precision News Round-Up: 8 November 2019, Amazon
extends free delivery service for peak season; New Zealand to
upgrade FTA with China; Australia to join Asia-Pacific trade deal;
global trade and the importance of trade compliance for life science
companies and more.
AMAZON EXTENDS FREE DELIVERY SERVICE FOR PEAK SEASON
Amazon has extended the availability of its free next day delivery
service to over 10 million items for its Prime members across the US.
Amazon has also expanded its Prime Free Same-Day delivery to millions
more members compared to last years peak season. For more information,
please see Post
AMAZON ANNOUNCES INVESTMENT IN NEW ROBOTICS HUB
In more Amazon news, on Wednesday, the e-commerce giant announced
plans to invest $40 million in a new 350,000-square-foot robotics
innovation hub in Westborough, Massachusetts that is expected to be
complete by 2021. According to Amazon, the new hub will act “as the
company’s epicentre of robotics innovation.” Amazon Robotics’ Chief
Technologist said that the new facility will include offices, labs and
manufacturing space to “design, build, program and ship out robots,
all under the same roof.” For more information, please see Supply
NEW ZEALAND TO UPGRADE FTA WITH CHINA
On Monday, New Zealand announced that it has upgraded its free trade
deal with China following years of negotiations. The trade ministry
stated that the upgraded agreement will make exporting to China easier
and decrease compliance costs for New Zealand exports by millions of
dollars per year. The two countries first signed a free trade
agreement in 2008, and China is New Zealand’s largest trading partner.
For more details, please see Reuters.
AUSTRALIA TO JOIN ASIA-PACIFIC TRADE DEAL
Australia will join a major free-trade deal including 15 countries
from the Asia-Pacific region. Fifteen of the 16 participants signed up
to the Regional Comprehensive Economic Partnership (RCEP) at the East
Asia Summit in Bangkok while India decided not to join the agreement.
The RCEP would be the largest free trade agreement in the world if
India’s large economy was included. The signatories have said that
India is free to join at a later stage. Should India do so, RCEP would
cover half the world’s population and 30 percent of global GDP. For
more information, please see The Guardian.
CHINA REQUESTS US TO REMOVE TARIFFS
China is requesting US President Donald Trump to remove more tariffs
imposed in September as part of a “phase one” US-China trade deal. The
deal is expected to include a US pledge to remove tariffs scheduled
for December 15 on approximately $125 billion of Chinese imports
including phones, computers and toys. It is thought that China is also
requesting that the US roll back the earlier 25 percent tariffs on
about $250 billion of imports.For more information, please see Reuters.
UPS ANNOUNCES MEDICAL DRONE DELIVERY SUCCESS
UPS Flight Forward Inc., in partnership with CVS Health Corporation,
has completed the first for-profit medical drone delivery from a CVS
pharmacy directly to a consumer’s house. A second drone delivered a
prescription to a retirement communities. The drones flew
autonomously. However, a remote operator could take control if
required. The drones hovered approximately 20 feet over the premises.
The deliveries were then lowered by a cable and a winch to the ground.
For more information, please see Post
FEDEX EXPRESS ADDS 14 NEW APAC ORIGIN MARKETS
FedEx Express has added 14 new Asia-Pacific origin markets for its
FedEx International First service to the US and Canada. This brings
the total to 25 Asia-Pacific origin markets. Asia-Pacific customers
can have international shipments of up to 68 kilograms per package
delivered as early as 8am in one to two business days to approximately
5,000 US Zip codes. For more details, please see Daily Memphian.
UPS PROJECTS RECORD-BREAKING HOLIDAY RETURNS
UPS has forecasted record-breaking e-commerce returns for peak season
this year. UPS projects that holiday returns will peak on January 2
with an expected 1.9 million returns. This is an increase of 26
percent from last year’s peak returns day. Additionally, UPS has
estimated 1.6 million returns each day the week before Christmas. For
more information, please see UPS Press Room.
DHL LAUNCHES FREIGHT RAIL SERVICE BETWEEN CHINA AND GERMANY
DHL Global Forwarding has opened three more Rail Competence Centres
in Europe and is launching the fastest rail freight connection between
China and Germany. The new rail service will operate between Xi’an,
China and Hamburg and Nauss, Germany. The service will cut transit
time from 17 days to between 10 and 12 days. The route crosses a
number of countries, including Kazakhstan, Russia, Belarus, Lithuania
and Poland. For more details, please see Post
QAD Precision News
GLOBAL TRADE AND THE IMPORTANCE OF TRADE COMPLIANCE FOR LIFE
Life sciences companies manufacture and distribute products that may
include biological matter, scheduled medicines and hazardous material.
As a result, the life sciences industry is, with good reason, heavily
regulated. Furthermore, life sciences enterprises that distribute
their products globally often need to work within a number of
different regulatory environments. This can make compliance a challenge.
In 2017, China bypassed Japan to become the world’s second-largest
national pharmaceutical market. Although North America is still the
largest pharmaceutical market, less well established markets including
Africa, the Commonwealth of Independent States, the Indian
subcontinent and Latin America are forecast to fuel growth. As a
result trade compliance requirements are changing for life sciences
companies. As life sciences companies move into new markets, they are
required to deal with more regulations and manage more risk. In this
QAD Precision Report we look at trade compliance for life sciences
companies. To read the full report, please click here.