News Snapshot:
A new survey of manufacturing and retail customers by third-party logistics provider Toll Group is reinforcing the narrative that the coronavirus pandemic is accelerating moves to diversify product sourcing away from China. A quarter of customers are now planning to transition some of their operations out of China in the next three years, the global logistics powerhouse said. Melbourne, Australia-based Toll is the 17th largest 3PL in the world by gross revenue, according to Armstrong & Associates. The pandemic has hardened feelings that concentrating business in China is risky after government-mandated lockdowns at the virus' origin froze manufacturing and international...
