Analyst Insight: The distribution center is taking on greater importance as a driver of growth and profitability. Top companies are investing in distribution operations to drive competitive advantage and gain market share. Many are leveraging today's technology to prepare for the distribution center of the future. But there is a next wave of technologies on the horizon - from wearables to mobile manufacturing to the Internet of Things. And the tipping point for these technologies is near. - Nikko Pianetto, Group VP of Integrated Technology Solutions, Fortna Inc.
Analyst Insight: Labor costs are rising just as the availability of workers is shrinking and turnover is increasing. According to the Census Bureau, 60 million Baby Boomers will exit the workforce by 2025, but only 40 million new workers will enter. Companies must rethink how they bridge that gap and keep costs in-line. Many life sciences companies are reaching a scale where investments in automation help replace manual, labor-intensive operations. But companies must be careful in evaluating automation investments. - Roger Counihan, Life Sciences Industry Leader, Fortna Inc.
Analyst Insight: Third-party logistics providers (3PLs) will no longer be able to squeeze the wages and benefits of their warehouse workers for cost savings. In the past, 3PLs came in with a lower hourly rate and a lower benefit package, with a mix of contract and full-time employees. The savings from this strategy, along with design improvements, workflow and systems, enabled the 3PL to present a value proposition with a lower cost for operation. - Valerie Bonebrake, SVP, Business Solutions, Tompkins
The lift truck market in North America is at an all-time record high in the material handling industry. Total retail orders in all classes, excluding exports, totaled 225,534 units in 2015. It is the first year lift truck sales are higher than the industry's pre-recession level of 215,000 units in 2006.
Checkpoint Systems Inc., a provider of merchandise-availability applications for the retail industry, has developed a Micro RFID (radio frequency identification) label for health, beauty and cosmetics products.
With the progress of modern logistics as well as the growth in demand for replacing workforce by machinery, forklifts have become the most widely used tools for handling materials in logistics industry. In 2014, global forklift sales volume exceeded one million sets for the first time, representing a year-on-year increase of 7.5%; wherein, China sold 360,000 ones, up 9.4% year on year, still ranking first worldwide.