Latest news with #sourcing
Time of India
24-06-2025
- Automotive
- Time of India
Tata Motors says JLR ready for supply shocks, no US plant despite tariff hit; Avinya EVs delayed to late 2025
Tata Motors Group on Tuesday said its Jaguar Land Rover (JLR) arm is better prepared to tackle current global supply chain disruptions, including those arising from the West Asia conflict, China's rare earth curbs and tariff wars, drawing on lessons learnt during the semiconductor shortage of the COVID-19 era. Group CFO PB Balaji said JLR is not planning to set up a manufacturing unit in the US, despite facing a steep tariff hike on exports to that market. 'As far as the manufacturing footprint is concerned, there are no plans at this point in time for any US site of any sort,' Balaji said at the company's media interaction. He noted that supply chains have undergone 'shock testing' during the semiconductor crisis of 2022-23 and added, 'Internally, we are equipped to process it better. That doesn't mean we will not have a problem. It just means that we'll be able to cope with it better.' Balaji acknowledged that a 10% tariff — up from 2.5% — would impact US volumes. 'I do expect some amount of volume shrink... some degree of demand elasticity will be there,' he said, adding that JLR currently exports around one lakh units to the US from the UK, PTI reported. He said JLR would mitigate the impact through market activation and demand rerouting to the UK, Europe and the Middle East, where the Israel-Iran conflict hasn't significantly affected sales yet. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Flores: Scholarships You Can Apply For (Start Now) College Scholarship | Google Search Search Now Undo The company also plans a cost management programme which will take 12–18 months to fully implement. On the issue of China's export restrictions on rare earth magnets — a critical component in EV manufacturing — Balaji said JLR is not facing production cuts and 'we're not pressing any panic button,' citing stable supplies and alternate sourcing. Tata Motors Passenger Vehicles and EV Managing Director Shailesh Chandra said the company is 'comfortable for the next few months more from a stock perspective' and hasn't altered EV launch plans. 'There's no trigger to change our plans,' he said, adding that both the launch and the rollout remain on track. Chandra confirmed that the auto industry is engaging with the Indian government and its envoy in China to resolve the rare earth issue. 'In the mid to long term, there are multiple solutions... we are working with the government in terms of being more self-sufficient,' he said. He added that alternate sourcing from other countries was also being explored. On the delay in Tata's Avinya brand EVs, Chandra said the launch has been pushed due to feasibility issues in certain subsystems, which required additional engineering and architectural changes. The Avinya EVs are now expected by late 2025 or early 2026. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
The Guardian
24-06-2025
- Business
- The Guardian
Co-op to stop sourcing products from Israel, Iran and 15 other countries
The Co-op is to stop sourcing goods from Israel, Iran and 15 other countries where it says there are 'internationally recognised' human rights abuses and violations of international law. The mutual, which operates about 2,300 grocery stores in the UK, has drawn up a list of about 100 products affected by the change, including Israeli carrots and mangos from Mali. Other countries covered by the ban, which will be gradually implemented from this month, include Russia, Syria, Belarus, Afghanistan, Myanmar and Sudan, and the Co-op said it would cover ingredients for its own-label products as well as whole items. The Co-op's decision appears unlikely to cause a significant financial impact on the retailer, which sources most of its products from western Europe. The Co-op, which is known for its efforts to do business ethically including selling Fairtrade products and supporting local social projects, had already stopped selling Russian products in March 2022, shortly after Vladimir Putin's full-scale invasion of Ukraine. The Co-op said the new list had been compiled by independent assessment of 'where there is agreement across respected assessments, such as by the UN and others, that there is consistent behaviour which would constitute community-wide human rights abuses or violations of international law'. The retailer said the move came after its members had made clear through surveys and motions at its annual meetings that conflict was one of their biggest concerns and that the Co-op 'should do all it can to advocate and build peace'. However, the Co-op said it would only take action that 'would make a difference directly or indirectly to those affected and would alleviate suffering' and it 'would not negatively affect the Co-op's integrity as a commercially successful co-operative business'. Sign up to Business Today Get set for the working day – we'll point you to all the business news and analysis you need every morning after newsletter promotion Debbie White, the chair of the Co-op Group board, said the policy was a 'clear demonstration of our co-operative values in action, where the voices of our members have been listened to and then acted upon. 'We are committed, where we can, to removing products and ingredients from our shelves which are sourced from those countries where the international consensus demonstrates there is not alignment with what happens in those countries and our co-operative values and principles.'
Fashion United
22-06-2025
- Business
- Fashion United
Fashion brands brace for China's export shift
Facing escalating tariffs from the U.S. and political uncertainty, Chinese manufacturers are rapidly refocusing their export strategies, shifting their gaze to Europe, Southeast Asia, and domestic e-commerce in a bid to weather the latest rupture in global trade. According to the Financial Times, exports to Europe surged 12 percent in May, with Germany alone up 22 percent year-on-year, as factories across Zhejiang, the country's second-largest exporting province, work to secure new clients in markets less volatile than the U.S. For global fashion and retail brands that depend on China's robust manufacturing base, this pivot could reshape sourcing dynamics and pricing structures. 'We're very eager, we can make anything,' said Xia Shukun of Shaoxing Sulong Outdoor Technology, which is courting new European clients. Yet with this eastward tilt comes rising competition. European buyers, once dependent on a smaller pool of Chinese suppliers, now face a deluge of low-cost offerings, threatening established relationships and price stability. 'This is the toughest year yet,' said Vera Wu told the FT, whose company supplies accessories to Lidl and Ikea. As Beijing doubles down on cross-border e-commerce and subsidises overseas trade shows, the fashion industry may need to prepare for what EU Commission President Ursula von der Leyen called 'a new China shock', one where overcapacity, not just geopolitics, floods the global market.
Korea Herald
16-06-2025
- Business
- Korea Herald
Driving emissions transparency: INEOS Styrolution rolls out product carbon footprint calculations across global portfolio
FRANKFURT, Germany, June 16, 2025 /PRNewswire/ -- INEOS Styrolution now provides Product Carbon Footprint (PCF) data for all its products using a state-of-the-art tool, delivering transparent emissions data from raw material sourcing through manufacturing up until the factory gate. PCF data is calculated using the Atos PCF platform, with the methodology certified by TÜV Rheinland. With this data, customers can track scope 3.1 emissions for every product they purchase from INEOS Styrolution, supporting more accurate reporting, compliance with climate-related requirements, and increased supply chain transparency. "By measuring the carbon footprint of our global product portfolio, we take responsibility for our impact while enabling our customers to do the same," states Steve Harrington, CEO, INEOS Styrolution. "This tool enables us to be transparent about our emissions and product carbon footprints, while equipping our customers with the data they need to target scope 3 reductions and meet their climate targets." With automated, product-level carbon footprint calculations according to a certified methodology in place, INEOS Styrolution is among the few in the chemical industry offering its customers product-specific emissions data across its entire offering. Further information: Product Carbon Footprint (PCF) refers to the total greenhouse gas emissions associated with a product, from raw material extraction through manufacturing to the point it leaves the production site. This "cradle-to-gate" view helps companies and customers better understand the climate impact of individual products and identify opportunities to reduce emissions across the value chain. INEOS Styrolution's PCF methodology follows international standards, including ISO 14067:2018, the Together for Sustainability (TfS) PCF Guideline (V3.0), and the GHG Protocol. Scope 3 emissions refer to indirect greenhouse gas emissions that occur in the value chain of the reporting company – such as those from raw material production, logistics, product use, or disposal. Scope 3.1, a key subcategory, includes emissions from purchased goods and services – typically the largest share of emissions for manufacturing companies. About INEOS Styrolution INEOS Styrolution is the number one producer of high-performance styrenics, offering a broad portfolio that comprises styrene monomer, polystyrene, ABS, and advanced styrenics. The company delivers customised solutions for customers across automotive, healthcare, electronics, household, construction, packaging, toys, sports and leisure sectors. With more than 90 years of innovation in material science and 16 production sites worldwide, INEOS Styrolution combines global reach with local expertise to meet the evolving needs of its customers. This includes bringing safe, sustainable, and high-performing products to market and supporting their efforts toward meeting their sustainability targets. INEOS Styrolution is fully owned by INEOS Group.
BBC News
16-06-2025
- Business
- BBC News
Amazon replaces local businesses as States' stationery supplier
Amazon is to replace local businesses as the stationery supplier to the States of Guernsey, following a review of its "sourcing process".The States of Guernsey's Procurement department said the worldwide online retailer had provided efficient and competitive rates compared to invited local and off-island suppliers, potentially saving it "up to £100,000 per annum based on anticipated purchases"."We previously had agreements in place with local suppliers for stationery, however, these agreements have come to an end," a States spokesperson said."While it's disappointing that a local supplier wasn't able to win this business, we have a responsibility to spend taxpayers' money responsibly." The department said stationery as a procurement category had not been reviewed fully for about five years."We use Amazon in the same way, and for the same reasons, that thousands of individuals and families use Amazon across the island," they continued."These are low value consumable items, often bought repetitively and across the business this amounts to several thousand transactions annually. It is therefore important that we can buy these efficiently and competitively." The procurement category was reviewed in 2024, during which the States "decided to undertake a sourcing process, inviting local and off-island suppliers". "The scoring for this tender process was weighted to recognise the economic benefit of having on-island suppliers, however, following a competitive tender process with on-island and off-island suppliers, even with this local weighting, Amazon were successfully awarded a framework agreement to supply stationery."We are expecting that this new agreement could save the States up to £100,000 per annum based on anticipated purchases."
