Opening a New Warehouse? Consider These 5 Questions to Pick the Best Location
Whether there’s an increase in demand, you need more storage or it's simply time to update your old, outdated facility, it's officially time for a new warehouse. Selecting where you will open a new warehouse is more complex than purchasing one that is available and has the right price. Answer these five questions before determining the best location for opening your new warehouse. Where are my customers located? Multiple surveys across the retail industry suggest that most customers expect fast shipping. Whether or not you provide retail services, retail continues to increase delivery expectations across every industry. For local customers, select a location nearby. For regional customers, choose a centrally located warehouse closer to your top-performing market. Consider choosing multiple warehouses in different markets if your customer base is nationwide. Instead of standard regions, consider the volume one warehouse can handle and define your regions based on the total volume...
Expert Retail Industry Trends and Predictions for 2023
The retail apocalypse may not be over just yet. Retailers have survived several years of shifting demand, excess inventory, inflationary pressures and supply chain disruptions. After beginning to rebound in 2022, the retail industry is heading into 2023 with slowing momentum and disappointing holiday sales. The new year will bring new challenges that will test the industry’s resilience. For retail and wholesale companies, careful preparation and strategic planning will be critical to expanding while others contract. Here are five retail industry trends and predictions for 2023. 1. Driven by social media shopping, e-commerce will reign supreme. E-commerce has quickly grown, becoming the preferred shopping experience for the younger generations. E-commerce will continue to grow in 2023 as more consumers trade in-person shopping for online stores. According to a recent Hootsuite report, 58.4% of global internet users make an online purchase every week, and 30.6% of people make that purchase on...
Armstrong Relocation & Companies Acquires MacDonald Moving Services
MEMPHIS, Tenn., Dec. 14, 2022 -- Armstrong Relocation & Companies ("Armstrong"), an industry-leading provider of moving, relocation and supply chain solutions and United Van Lines' largest U.S. hauler, has acquired MacDonald Moving Services, Inc., a Boston-based, United Van Lines agency. This addition enhances Armstrong's service capacity in the New England region. "We have been interested in the Boston market for many years and have been patiently awaiting the right business opportunity," said Todd Watson, Armstrong Relocation & Companies CEO. Watson added, "When Bruce MacDonald inquired about our interest in acquiring his business upon his retirement from the industry, the organizational synergies were apparent. This expansion will enable us to better serve our current and future customers throughout New England." Bruce MacDonald, third-generation MacDonald owner said, "The important thing for MacDonald Moving Services is that the group of employees—who have been a magnificent family for many years—continue to serve the moving of American families." Armstrong has hired New England native and...
Top industries in Dallas that use Third Party Logistics (3PL)
The Third Party Logistics (3PL) Market Size has increased steadily over the last five years by a pace of over 5% per year. GlobeNewswire predicts over 8% growth in the next five years, driven by increases in trading and a growing e-Commerce industry. With consumer demand for selection and speedy delivery driving some industries to need more goods available at the ready, it’s no wonder there’s growth in demand for warehousing and logistics. Businesses needing better inventory management and same-day or one-day delivery can benefit from a 3PL partnership. According to the Dallas Regional Chamber, over 200 companies have moved their corporate headquarters to the region since 2010. This business boom in the Dallas region is fueled by rapid growth in certain industry sectors, namely transportation, construction, food service, health services, retail and technology. 3PL solutions are critical to these industries, providing stability and agility to global businesses. Changing consumer...
Why Every New Hotel Needs A 3PL Partner
After several slow years, the United States hotel industry is finally picking up steam. The U.S. had 621,268 hotel rooms under construction by the end of the second quarter of 2022, according to Lodging Econometrics. The country’s 5,220 new hotel projects accounted for 37% of the global construction pipeline. As hotel developers resume their long-awaited projects from coast to coast, competition is steep for materials, labor and space. With ongoing supply-chain disruptions and a war for talent, the hospitality industry is calling on third-party logistics (3PL) providers to help them keep up the pace. A 3PL is a one-stop shop for any logistics, warehousing or fulfillment needs, providing insights on how to make supply chain processes more effective and efficient. For hospitality companies, 3PL partners are a critical resource before, during and after new construction. Here are five reasons why your hotel project needs a 3PL expert. 1. Protect your...
What Manufacturers Need to Know About the Global Supply Chain Disruptions
It’s no secret that 2022 has seen its share of challenges for manufacturing operations, and Dallas manufacturers are not immune to these global struggles. A recent KPMG report found that 67% of CEOs will increase investment in detecting disruptions to their supply chains and will look to process innovation to help alleviate threats to global business operations. Global manufacturers need to become more flexible and resilient to meet the challenges of the current business environment. The New York Fed states, “The [Global Supply Chain Pressure Index]'s year-to-date movements suggest that although global supply chain pressures have been decreasing, they remain at historically high levels.” (August 2022) In fact, the Fed’s estimated pressures on the global supply chain in 2022 are higher than all reported rates since the Fed started this index in 1997 and even higher than the pressures experienced in 2020 during the global pandemic shutdown. The Issues: Logistics...
The Challenges and Opportunities of Opening a Senior Living Facility in Raleigh
Low cost of living, mild climate and quality of life factors such as arts, culture, entertainment and transportation make the Raleigh area highly attractive to retiring seniors. The recent boom in new and renovated senior living communities is evidence that investment in this economic sector is strong. The Raleigh-Durham area is now home to over 100 senior living communities, ranging from active, independent living to more specialized care like skilled nursing or memory care facilities. Opening a new senior living facility in Raleigh may be more complex and challenging than bringing a standard residential community online. Even if you’re just renovating an existing facility or converting a traditional apartment complex into a senior living community, there are several factors to consider: Regulations Bringing a new senior living facility online comes with a host of red tape. Stay on top of the requirements for your area of specialty. Maximize your access...
Successful Supply Chain Solutions for 3 Top Industries
Key Takeaways: Supply chain disruptions are now recurring business risks, not rare events. Industry-specific supply chain solutions improve resilience and responsiveness. Automotive companies benefit from just-in-case inventory models supported by 3PLs. Electronics brands rely on flexible fulfillment and value-added services to meet fast-changing demand. Retail & e-commerce businesses use 3PLs to improve inventory visibility and regional distribution. Armstrong provides scalable, end-to-end supply chain solutions across top industries. Over the past several years, the global supply chain has become increasingly fragmented and complex, interrupted by recessions, cyberattacks, natural disasters, terrorism, labor shortages and pandemics. Businesses can expect more disruptions as vulnerabilities in the supply chain become more exposed. McKinsey predicts that companies across industries should now expect supply chain disruptions lasting a month or more to happen at least every 3.7 years, with the most significant events having a lasting impact on finances. Now more than ever, building structural agility into...
Why Atlanta’s Industries Are Using 3PL Services
As Atlanta expands its influence as a leading transportation hub, more national companies are outsourcing parts of their operations to local third-party logistics (3PL) providers. The Metro Atlanta Chamber nicknamed Atlanta “Supply Chain City” because of its prime geographic location, strong infrastructure network and collection of corporate headquarters. Atlanta is only a two-hour flight or two-day drive away from roughly 80 percent of the United States, according to the Georgia Department of Economic Development. It’s home to the most expansive rail system in the Southeast, the third-busiest container gateway in the country and the world’s busiest airport. As a result, the 3PL sector in Atlanta has exploded. The Atlanta Business Chronicle reported that the logistics and parcel delivery industry has been up 90.3 percent year over year since 2019. The city’s 3PL leaders continue to revolutionize the sector, making Atlanta the second-best metro area for digital supply chain in the...
From Just in Time to Just in Case: The New Inventory Approach
For decades, industries have been perfecting “just-in-time” inventory management models, ordering products and materials on an as-needed basis to prevent unsold stock. On average, United States companies reduced their inventories by two percent every year from 1981 to 2000, according to a study in Management Science. By keeping inventories as lean as possible, businesses could reduce their warehousing presence and significantly cut costs. Then, COVID-19 upended the global supply chain, leaving corporations with massive stockouts, heightened consumer demand and no safety nets. Instead of waiting for the supply chain to straighten out, most companies are increasing their buffer inventories to minimize the effects of ongoing delays on their buying cycles. Nearly 60 percent of companies told McKinsey they had adopted new supply-chain risk management practices over the past year. The new approach is called the “just-in-case” model, a balance between the conventional just-in-time system and the panicked stockpile mentality. Here’s...
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