About 30% of companies have experienced fraud in their supply chains, an annual Deloitte survey found, and the percentage has remained relatively consistent in recent years. Larry Kivett of Deloitte Advisory says the extent of such fraud might be understated. Technology can serve an important role in detecting fraud, as "analytics are getting to be much more robust," he said.
Xavier Vanneste, owner of Belgium brewery The Half Moon, sought to have a beer pipeline, which is now nearly complete and will run two miles from the brewery to a bottling plant. The line will carry up to 1,500 gallons of beer each hour at 12 miles per hour and will reduce the number of truck trips by hundreds each year.
Amazon's business marketplace had $1 billion worth of sales in its first year and sees continued growth of 20% month-over-month, said Vice President Prentis Wilson. The marketplace connects businesses to suppliers and makes up 40% of the company's sales.
Chinese regulators are launching a campaign to improve e-commerce by targeting key areas of concern such as poor quality goods, trademark violations and counterfeits. The campaign will run from May to November, and regulators will increase oversight and deliver steeper penalties to violators.
The Fix Colorado Roads Act introduced in the state's legislature would issue $3.5 billion in bonds to fund 45 road and bridge projects. "This gives Colorado a permanent revenue source to fix roads across the state," said a spokeswoman for Fix Colorado Roads. However, a similar bill failed last year, and voters must approve the measure.
The Google Self-Driving Car Project will integrate its self-driving automotive technology into the 2017 Chrysler Pacifica hybrid minivan as part of a partnership launched by both companies. Engineers from both firms will work on the project at a plant in Michigan, with the minivans to be tested later this year.
Target is pushing its suppliers to speed their delivery of products so the company can better compete with Wal-Mart and Amazon. It will aim to set tighter deadlines for warehouse delivery, higher fees for late deliveries and may set fines of up to $10,000 for inaccurate product information. The changes are a part of the company's $5 billion supply chain investment to keep products on shelves.
The use of industrial 3D printers is changing the way companies make goods, including dental and health devices such as dentures, crowns and hearing-aid shells. It also is used to create orthopedic implants, titanium jawbones, ear molds and other products. McKinsey estimates that 3D printing could have an economic effect of up to $550 billion per year by 2025.
Reports indicate Amazon will launch its fresh food delivery service in the UK as soon as May 18. Amazon Fresh has delivered perishable products in the US since 2007.
Texas A&M Chancellor John Sharp said the university would invest $150 million to convert a former military air base into a research campus that would provide educational facilities as well as development space for private companies working on self-driving and artificial intelligence technology. No formal deals on the project have been announced, but Sharp said he expected a number of public-private partnerships would be involved.
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