Amazon launches ASCS platform, FedEx and UPS stocks drop 10%
Business
Amazon just rolled out Amazon Supply Chain Services (ASCS), a logistics platform open to all businesses, not just Amazon sellers.
The news sent shockwaves through the industry, with FedEx and UPS stocks dropping 10%, and other big freight companies like GXO Logistics taking hits too.
ASCS could reshape North American freight
ASCS taps into Amazon's huge fleet of planes, trucks, and vans to offer complete shipping solutions for brands of all sizes.
Big names like Procter & Gamble and 3 million are already on board.
Morgan Stanley analyst Ravi Shanker even called it a "could be a watershed moment for North American freight transportation companies," since ASCS could seriously change how goods get delivered, especially as Amazon pushes for faster urban deliveries.