As Surplus Record goes to press, U.S. manufacturers are once again threatened with the potential of having to manage through a new round of China tariffs. Never mind the fact that in 2018, 12 out of 18 manufacturing industries in the U.S. saw record profits, despite tariffs, according to a recent MetalMiner analysis. Regardless, if you ask a typical procurement manager today about tariffs, he/she will generally have nothing but negative things to say about their impact. A recent ISM (Institute for Supply Management) study that asked procurement managers in manufacturing if they “believe that tariffs have raised the price of the goods that you produce and deliver to your customers,” 59% of survey participants said “yes.” According to the ISM findings, the average price of goods raised to customers was 6.8%. However, only 30% of … [Read more...] about Managing Through Tariffs — the End of the China-to-U.S. ‘Chicken Run’
Industry News
Surplus Record Spotlighted on Fox Business Network’s “Industry Marvels”
Surplus Record was recently featured on the "Industry Marvels" series, which airs on the Fox Business Network. "The series is created by Andward Production Group, known for highlighting the most innovative and distinct manufacturers across North America since 2010. Surplus Record, with its history dating back to 1924, has become an indispensable resource within the industrial machinery and equipment domain. As a well-established online marketplace, it offers an expansive catalog of used, new, and surplus machinery, facilitating transactions that propel the manufacturing industry forward. The "Industry Marvels" segment on Surplus Record serves to highlight the company's dedication to quality and its pivotal role in modernizing the trade of industrial equipment. It is a significant acknowledgment from a series that profiles … [Read more...] about Surplus Record Spotlighted on Fox Business Network’s “Industry Marvels”
Terrorism, the US Corporate Response, and Economic Implications
The tragically horrific events of early October in Israel are unparalleled in the 21st century for the global Jewish community. Not since the Holocaust have so many Jews been targeted and killed simply for being who they were. The tragedy was not limited to Israelis. A minor fraction of the deceased were US citizens. As of October 13th, the death toll of US citizens stands at 27, with 17 still missing. Arutz Sheva reports that this ranks as the fourth deadliest assault on US civilians by foreign entities in history, following 9/11, the 1992 bombing of Pan Am Flight 103, and the 2016 ISIS attack on an LGBTQ nightclub in Orlando. Surplus Record resolutely condemns the appalling violence and terrorism inflicted upon Israel by Hamas and its allies, including Iran. Our hearts go out to the grandparents, parents, teenagers, children, and … [Read more...] about Terrorism, the US Corporate Response, and Economic Implications
How Equipment Resellers Are Powering the Industrial Circular Economy
Guest Blog Post by Fiona Chan The Introduction of the Industrial Circular Economy The problem of industrial waste has been a long debated topic since the industrial revolution. While the advances in technology have enabled a higher standard of living for us, the amount of waste created from manufacturing, transporting and ultimately disposing of products, machinery and equipment no longer used has sparked global concern on the negative impacts on future generations. In the US alone, It is estimated that each year, 7.6 billion tonnes of industrial waste is generated. As the industry continues to grow, it is clear that a solution is needed to ensure sustainable growth to drive resource usage efficiency and decrease environmental impact. These concerns have helped elevate the concept of the industrial circular … [Read more...] about How Equipment Resellers Are Powering the Industrial Circular Economy
July 2024 – Tupperware Brands Leaving USA for Mexico: A Growing Trend in Manufacturing Relocation
Earlier this month, Tupperware Brands revealed its decision to shutter its last remaining U.S. manufacturing plant inHemingway, South Carolina, and shift production to Mexico. This move, which will result in the loss of approximately 148 jobs,has raised concerns about the increasing trend of U.S. manufacturers relocating operations to Mexico. Tupperware cited a"multi-year strategy to simplify its supply chain" as the reason for this decision, with plans to transition manufacturing to itsexisting plant in Lerma, Mexico. Why Tupperware and Others are Choosing MexicoTupperware's decision reflects a growing trend among U.S. manufacturers to relocate to Mexico for various reasons, including: … [Read more...] about July 2024 – Tupperware Brands Leaving USA for Mexico: A Growing Trend in Manufacturing Relocation
