How to Prepare Your Supply Chain for Coronavirus What you can do now: Take care of your people Maintain a healthy skepticism Run outage scenarios to assess unforeseen impacts Create a comprehensive, emergency operations center Design for Response Know all your suppliers Understand vulnerabilities and take action Create continuity plans Don’t forget your people Revisit…
2 Million Visited Kentucky Last Year. The Reason: Whiskey Kentucky Distillers’ Association (KDA) and Buffalo Trace (not included in the association) released data related to those who visited Kentucky distilleries. Buffalo Trace had a record breaking 293,996 visitors, which is a 35% increase from the previous year. The KDA had 1,719,821 visits between its Kentucky…
Companies Moving Manufacturing Out of China Due to Trade War Companies are moving manufacturing from China to Vietnam as they attempt to dodge President Trump’s tariffs. Companies including Samsung, Nike, and Adidas have shifted production into Vietnam from China as tariff concerns have grown. Read the Press Release
T. Marzetti Co. Plans Nearly $93m Investment to Boost Capacity T. Marzetti Co. which manufacturers salad dressings, sauces and other food products, plans to expand its Hart County plant with a $92.8m investment creating up to 140 full time jobs. Company leaders anticipate the project will be completed by Summer 2021. Read the Press…
WTC-KY eCommerce Webinar Series Helping KY Companies Sell to the World The World Trade Center Kentucky (WTC-KY), UPS, and SkuVault have partnered to create the 2020 eCommerce webinar series which will provide guidance, knowledge, to help small “mom and pop operations” to large manufacturers expand their business. Read the Press Release
U.S. and Bolivia to Enhance Trade By Recognizing Each Other’s Alcohol Beverages Bolivia’s foreign minister, exchanged letters in Washington to start the process by U.S. to designate singani as a distinctive product of Bolivia and the South American country to designate bourbon whiskey and Tennessee whiskey as distinctive U.S. products. The U.S. Treasury is expected…
China Lowers Tax Rates On Food In Hopes Of Increasing Foreign Trade China has reduced the tax rates for multiple imported food items to promote foreign trade and fulfill local demand for products that are short in supply. Out of the total 859 imported items 80 were food and beverage related. The lower provisional tax…
Anti-Corruption Chapter Included in USMCA Anti-coruption has been addressed in the trade agreement between the US, Mexico, and Canada. The United States-Mexico-Canada Agreement (USMCA) was signed into law by President Trump on January 29, 2020 includes the first ever chapter on corruption. This new chapter represents a commitment to support each nation’s efforts to combat…
USDA Helps Hemp Producers With Insurance Programs The USDA has introduced two programs to help protect hemp producers from natural disasters. The first insurance program through Multi-Peril Crop Insurance (MPCI) provides coverage against loss of yield because of insurable causes of loss for hemp grown for fiber, grain, or Cannabidiol (CBD) oil. The Noninsured Crop…
Supply Chains Are At Risk Moving Into 2020 Incidents such as hurricanes destroying Pfizer’s facilities in Puerto Rico in 2017 which caused them to suffer approximately $195m in damage, as well as the typhoons in 2018 for Toyota and the US-China trade war in 2019 that cost around $455b highlight the importance of companies’ approach…