{"id":27887,"date":"2024-07-12T12:17:00","date_gmt":"2024-07-12T12:17:00","guid":{"rendered":"https:\/\/www.prnasia.com\/story\/archive\/4459571_AE59571_0"},"modified":"2024-07-12T12:17:00","modified_gmt":"2024-07-12T12:17:00","slug":"asias-suppliers-growing-at-the-fastest-pace-since-early-2023-as-global-manufacturing-gathers-further-momentum-in-june-gep-global-supply-chain-volatility-index","status":"publish","type":"post","link":"https:\/\/transmediavictoria.net.au\/?p=27887","title":{"rendered":"ASIA&#8217;S SUPPLIERS GROWING AT THE FASTEST PACE SINCE EARLY 2023, AS GLOBAL MANUFACTURING GATHERS FURTHER MOMENTUM IN JUNE: GEP GLOBAL SUPPLY CHAIN VOLATILITY INDEX"},"content":{"rendered":"<table name=\"logo_release\" border=\"0\" cellspacing=\"10\" cellpadding=\"5\" align=\"right\">\n<tbody>\n<tr>\n<td><img decoding=\"async\" src=\"https:\/\/mma.prnasia.com\/media2\/518346\/GEP_Logo.jpg?p=medium600\" border=\"0\" alt title=\"logo\" hspace=\"0\" vspace=\"0\" width=\"118\"><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<ul type=\"disc\">\n<li><b>Global suppliers report capacity pressures, with index in positive territory for a second consecutive month<\/b><\/li>\n<li><b>Asian manufacturing growth accelerating in Mainland China, <span class=\"xn-location\">Taiwan<\/span>, <span class=\"xn-location\">Vietnam<\/span> and <span class=\"xn-location\">India<\/span><\/b><\/li>\n<li><b>In contrast, demand at North American suppliers fell slightly because of lower orders, indicating a tightening economy<\/b><\/li>\n<li><b>Transportation costs rise to 20-month high, as greater activity drives up shipping and container rates<\/b><\/li>\n<\/ul>\n<p><span class=\"xn-location\">CLARK, N.J.<\/span>, <span class=\"xn-chron\">July 12, 2024<\/span> \/PRNewswire\/ &#8212; For the second consecutive month<b>, <\/b>the <a href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=4209907-1&amp;h=2695009317&amp;u=http%3A%2F%2Fwww.gep.com%2Fvolatility&amp;a=GEP+Global+Supply+Chain+Volatility+Index\" target=\"_blank\" rel=\"nofollow noopener\">GEP Global Supply Chain Volatility Index<\/a>&nbsp;\u2014 a leading indicator tracking demand conditions, shortages, transportation costs, inventories and backlogs based on a monthly survey of 27,000 businesses \u2014 continued in positive territory. This indicates another month where global supply chains got busier and capacity was stretched across suppliers worldwide. At 0.13, the index was little-changed from May&#8217;s 14-month high of 0.21.<\/p>\n<div id=\"prni_dvprnejpg419dleft\" dir=\"ltr\"> <a href=\"https:\/\/mma.prnasia.com\/media2\/2459459\/GEP__Supply_Chain_Volatility_Index_July_2024.jpg?p=medium600\" target=\"_blank\" rel=\"noopener\"><img decoding=\"async\" id=\"prnejpg419dleft\" title=\"GEP Global Supply Chain Volatility Index July 2024\" src=\"https:\/\/mma.prnasia.com\/media2\/2459459\/GEP__Supply_Chain_Volatility_Index_July_2024.jpg?p=medium600\" alt=\"GEP Global Supply Chain Volatility Index July 2024\" align=\"middle\"><\/a> <br \/><span>GEP Global Supply Chain Volatility Index July 2024<\/span> <\/div>\n<p>At the forefront of supply chain activity growth is <span class=\"xn-location\">Asia<\/span>, where input demand jumped as factory activity in major manufacturing and exporting economies \u2014 led by mainland China,&nbsp;Taiwan, <span class=\"xn-location\">Vietnam<\/span> and <span class=\"xn-location\">India<\/span> \u2014 accelerated.<\/p>\n<p>In contrast to <span class=\"xn-location\">Asia<\/span>, which has seen steady month-over-month growth since April, <span class=\"xn-location\">North America&#8217;s<\/span> suppliers oscillate between under- and overutilized capacity. In June, factory input demand fell slightly, with suppliers experiencing reduced demand. However, on average since the start of 2024, North American vendors have generally been operating at full capacity.<\/p>\n<p>The European market is still operating with some slack as factory purchasing activity across the continent remains subdued. This suggests the region&#8217;s manufacturing recovery still has a way to go, though conditions have vastly improved compared with the end of last year.<\/p>\n<p>An early warning sign of potential overheating ahead is global transportation costs, which rose to their highest level since <span class=\"xn-chron\">October 2022<\/span> in June as strengthening activity across global supply chains led to higher shipping and container rates. For now, reports of safety stockpiling remain low, suggesting the market is well placed in a &#8220;goldilocks&#8221; zone and stress levels are subdued.<\/p>\n<p>&#8220;Asian manufacturers are gaining momentum, which, if sustained into the second half of the year, will mean a return of increasing costs and price pressures for global companies,&#8221; explained <span class=\"xn-person\">Amol Jawale<\/span>, vice president, consulting, GEP. &#8220;Now is the perfect time for a company&#8217;s procurement to lock in pricing with key suppliers for 2025.&#8221;<\/p>\n<p><i>Interpreting the data:<br \/><\/i><i>Index &gt; 0, supply chain capacity is being stretched. The further above 0, the more stretched supply chains are.<br \/><\/i><i>Index &lt; 0, supply chain capacity is being <\/i><i>underutilized.<\/i><i>&nbsp;The further below 0, the more <\/i><i>underutilized<\/i><i>&nbsp;supply chains are.<\/i><\/p>\n<p><b><span class=\"xn-chron\">JUNE 2024<\/span> KEY FINDINGS <\/b><\/p>\n<ul type=\"disc\">\n<li><b>DEMAND:<\/b> Global demand for raw materials, commodities and components is now trending broadly level with its long-term average, indicating that global manufacturing has moved toward an upswing in the business cycle. <span class=\"xn-location\">Asia<\/span> remains at the forefront of this upturn, led by <span class=\"xn-location\">India<\/span>, mainland China,&nbsp;Taiwan and <span class=\"xn-location\">Vietnam<\/span>.<\/li>\n<li><b>INVENTORIES<\/b>: The inventory cycle has stabilized, with firms neither building up stocks excessively nor aggressively destocking to improve cashflow and cut costs.<\/li>\n<li><b>MATERIAL SHORTAGES: <\/b>Global reports from businesses of items in short supply remain anchored at historically typical levels.<\/li>\n<li><b>LABOR SHORTAGES:<\/b> As was the case in May, reports from global suppliers of an inability to meet orders due to staff shortages were more common than seen historically on average. This suggests capacity expansion is required to sustainably meet current and future demand.<\/li>\n<li><b>TRANSPORTATION:<\/b> Global transportation costs rose to a 20-month high in June, with shipping and container rates under pressure because of increasing supply chain activity.<\/li>\n<\/ul>\n<p><b>REGIONAL SUPPLY CHAIN VOLATILITY <\/b><\/p>\n<ul type=\"disc\">\n<li><b><span class=\"xn-location\">NORTH AMERICA<\/span>: <\/b><i>Index fell to -0.11, from 0.09, down slightly from May&#8217;s three-month high. The index has fluctuated between positivity and negativity this year but signals full capacity utilization on average in 2024.<\/i><\/li>\n<li><b><span class=\"xn-location\">EUROPE<\/span>:<\/b><i> Index unchanged from May&#8217;s 14-month high of -0.13. There continues to be some slack across <span class=\"xn-location\">Europe&#8217;s<\/span> manufacturing sector, although it is much reduced from 2023 levels. <\/i><\/li>\n<li><b>U.K.:<\/b><i> Index rose to 0.49, from 0.15, signaling strongest capacity pressures since <span class=\"xn-chron\">January 2023<\/span>. <\/i><\/li>\n<li><b><span class=\"xn-location\">ASIA<\/span>:<\/b><i> Index rose further in June to 0.35, from 0.19, a 16-month high, as Asian supply chains became busier amid strengthening factory activity in major markets such as mainland <span class=\"xn-location\">China<\/span>, <span class=\"xn-location\">Vietnam<\/span>, <span class=\"xn-location\">Taiwan<\/span> and <span class=\"xn-location\">India<\/span>. <\/i><\/li>\n<\/ul>\n<p>For more information, visit <a href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=4209907-1&amp;h=3740248688&amp;u=http%3A%2F%2Fwww.gep.com%2Fvolatility&amp;a=www.gep.com%2Fvolatility\" target=\"_blank\" rel=\"nofollow noopener\">www.gep.com\/volatility<\/a>.<\/p>\n<p>Note: Full historical data dating back to <span class=\"xn-chron\">January 2005<\/span> is available for subscription. Please contact <a href=\"mailto:economics@spglobal.com\" target=\"_blank\" rel=\"nofollow noopener\">economics@spglobal.com<\/a>.<\/p>\n<p><b><u>The next release of the GEP Global Supply Chain Volatility Index will be <span class=\"xn-chron\">8 a.m. ET<\/span>, <span class=\"xn-chron\">August 12, 2024<\/span>.<\/u><\/b><\/p>\n<p><b>About the GEP Global Supply Chain Volatility Index <\/b><\/p>\n<p>The <a href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=4209907-1&amp;h=2695009317&amp;u=http%3A%2F%2Fwww.gep.com%2Fvolatility&amp;a=GEP+Global+Supply+Chain+Volatility+Index\" target=\"_blank\" rel=\"nofollow noopener\">GEP Global Supply Chain Volatility Index<\/a>&nbsp;is produced by S&amp;P Global and GEP. It is derived from S&amp;P Global&#8217;s PMI<sup>\u00ae<\/sup> surveys, sent to companies in over 40 countries, totaling around 27,000 companies. The headline figure is a weighted sum of six sub-indices derived from PMI data, PMI Comments Trackers and PMI Commodity Price &amp; Supply Indicators compiled by S&amp;P Global.<\/p>\n<ul type=\"disc\">\n<li>A value above 0 indicates that supply chain capacity is being stretched and supply chain volatility is increasing. The further above 0, the greater the extent to which capacity is being stretched.<\/li>\n<li>A value below 0 indicates that supply chain capacity is being underutilized, reducing supply chain volatility. The further below 0, the greater the extent to which capacity is being underutilized.<\/li>\n<\/ul>\n<p>A Supply Chain Volatility Index is also published at a regional level for <span class=\"xn-location\">Europe<\/span>, <span class=\"xn-location\">Asia<\/span>, <span class=\"xn-location\">North America<\/span> and the U.K. For more information about the methodology, click <a href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=4209907-1&amp;h=187434771&amp;u=https%3A%2F%2Fwww.gep.com%2Fknowledge-bank%2Fglobal-supply-chain-volatility-index&amp;a=here\" target=\"_blank\" rel=\"nofollow noopener\">here<\/a>.<\/p>\n<p><b>About GEP<\/b><\/p>\n<p>GEP<sup>\u00ae<\/sup> delivers AI-powered procurement and supply chain solutions that help global enterprises become more agile and resilient, operate more efficiently and effectively, gain competitive advantage, boost profitability and increase shareholder value. Fresh thinking, innovative products, unrivaled domain expertise, smart, passionate people \u2014 this is how GEP SOFTWARE<sup>\u2122<\/sup>, GEP STRATEGY<sup>\u2122<\/sup> and GEP MANAGED SERVICES<sup>\u2122<\/sup> together deliver procurement and supply chain solutions of unprecedented scale, power and effectiveness. Our customers are the world&#8217;s best companies, including more than 550 Fortune 500 and Global 2000 industry leaders who rely on GEP to meet ambitious strategic, financial and operational goals. A leader in multiple Gartner Magic Quadrants, GEP&#8217;s cloud-native software and digital business platforms consistently win awards and recognition from industry analysts, research firms and media outlets, including Gartner, Forrester, IDC, ISG, and Spend Matters. GEP is also regularly ranked a top procurement and supply chain consulting and strategy firm, and a leading managed services provider by ALM, Everest Group, NelsonHall, IDC, ISG and HFS, among others. Headquartered in <span class=\"xn-location\">Clark, New Jersey<\/span>, GEP has offices and operations centers across <span class=\"xn-location\">Europe<\/span>, <span class=\"xn-location\">Asia<\/span>, <span class=\"xn-location\">Africa<\/span> and the Americas. To learn more, visit&nbsp;<a href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=4209907-1&amp;h=2425874100&amp;u=http%3A%2F%2Fwww.gep.com%2F&amp;a=www.gep.com\" target=\"_blank\" rel=\"nofollow noopener\">www.gep.com<\/a>.<\/p>\n<p><b>About S&amp;P Global<\/b><\/p>\n<p>S&amp;P Global (NYSE: SPGI) S&amp;P Global provides essential intelligence. We enable governments, businesses and individuals with the right data, expertise and connected technology so that they can make decisions with conviction. From helping our customers assess new investments to guiding them through ESG and energy transition across supply chains, we unlock new opportunities, solve challenges and accelerate progress for the world. We are widely sought after by many of the world&#8217;s leading organizations to provide credit ratings, benchmarks, analytics and workflow solutions in the global capital, commodity and automotive markets. With every one of our offerings, we help the world&#8217;s leading organizations plan for tomorrow, today.<\/p>\n<p><b>Disclaimer<\/b><\/p>\n<p>The intellectual property rights to the data provided herein are owned by or licensed to S&amp;P Global and\/or its affiliates. Any unauthorised use, including but not limited to copying, distributing, transmitting or otherwise of any data appearing is not permitted without S&amp;P Global&#8217;s prior consent. S&amp;P Global shall not have any liability, duty or obligation for or relating to the content or information (&#8220;Data&#8221;) contained herein, any errors, inaccuracies, omissions or delays in the Data, or for any actions taken in reliance thereon. In no event shall S&amp;P Global be liable for any special, incidental, or consequential damages, arising out of the use of the Data. Purchasing Managers&#8217; Index\u2122 and PMI<sup>\u00ae<\/sup> are either trade marks or registered trade marks of S&amp;P Global Inc or licensed to S&amp;P Global Inc and\/or its affiliates.<\/p>\n<p>This Content was published by S&amp;P Global Market Intelligence and not by S&amp;P Global Ratings, which is a separately managed division of S&amp;P Global. Reproduction of any information, data or material, including ratings (&#8220;Content&#8221;) in any form is prohibited except with the prior written permission of the relevant party. Such party, its affiliates and suppliers (&#8220;Content Providers&#8221;) do not guarantee the accuracy, adequacy, completeness, timeliness or availability of any Content and are not responsible for any errors or omissions (negligent or otherwise), regardless of the cause, or for the results obtained from the use of such Content. In no event shall Content Providers be liable for any damages, costs, expenses, legal fees, or losses (including lost income or lost profit and opportunity costs) in connection with any use of the Content.<\/p>\n<p><b>Media Contacts<\/b><\/p>\n<div id=\"prni_dvprnejpgaae1left\" dir=\"ltr\"> <a href=\"https:\/\/mma.prnasia.com\/media2\/2459460\/GEP_Volatility_Index_July_2024.jpg?p=medium600\" target=\"_blank\" rel=\"noopener\"><img decoding=\"async\" id=\"prnejpgaae1left\" title=\"GEP Global Supply Chain Volatility Index July 2024\" src=\"https:\/\/mma.prnasia.com\/media2\/2459460\/GEP_Volatility_Index_July_2024.jpg?p=medium600\" alt=\"GEP Global Supply Chain Volatility Index July 2024\" align=\"middle\"><\/a> <br \/><span>GEP Global Supply Chain Volatility Index July 2024<\/span> <\/div>\n","protected":false},"excerpt":{"rendered":"<p>Global suppliers report capacity pressures, with index in positive territory for a second consecutive month Asian manufacturing growth accelerating in Mainland China, Taiwan, Vietnam and India In contrast, demand at North American suppliers fell slightly because of lower orders, indicating a tightening economy Transportation costs rise to 20-month high, as greater activity drives up shipping [&hellip;]<\/p>\n","protected":false},"author":8,"featured_media":27888,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[20],"tags":[],"class_list":["post-27887","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.9 - 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