There are always supply chain risks. Let’s be honest, though: This year has gotten off to a riskier start than most. Disruptions are the leading risk factors early in 2024, and the “tale of two canals” has become such a prominent issue that it’s broken into mainstream media.
What are supply chain stakeholders to do amid these challenges? They need orchestration tools in the worst way — and that’s exactly what we provide at Cargologik. Continue reading to learn more about how 2024’s risk factors are playing out right now, and get in touch with us to learn more about enhancing your supply chain orchestration.
A New Era in Supply Chain Management
It’s clear that we’ve entered a new era in supply chain management. This new era likely started around the time the COVID-19 pandemic brought the global supply chain to a halt. But the age of disruption (and the need for orchestration technology) didn’t end when the pandemic receded.
As noted above, we’re dealing with significant supply chain disruptions regularly now. Missile attacks in the Red Sea and drought conditions around the Panama Canal are the crises du jour, but there’s no doubt something else is lurking this summer or later in the year.
Now is the time for BCOs and LSPs to implement supply chain orchestration technology. If you wait for a disruption before you shop for and choose technology, it won’t be ready to help you through that disruption. Shop, choose, and implement during periods of relative calm, and you’ll be in far better shape when the next disruption does arrive.
What About Visibility?
Visibility is a key part of orchestration. The challenge is overcoming your blind spots when establishing visibility. Inbound Logistics has written a guide to identifying and eliminating visibility blind spots, and Supply Chain Management Review has written about going beyond simple visibility to achieve something more advanced.
These guides are a good indication that the logistics industry is finally open to embracing modernity. This is traditionally a highly manual, analog industry that relies on relationships over technology. There’s nothing wrong with building and maintaining relationships, but technology is the only way to build and maintain a competitive advantage.
The Evolving Relationship Between the Supply Chain and Governments
An interesting idea that emerged from the pandemic and its related supply chain disruptions: Governments printing money to help prop up their economies actually made supply chain disruptions worse.
Forbes notes that there’s a larger discussion to be had around the art of the possible as it relates to supply chains and governments. As we see more and more regulations in the supply chain space, it will be interesting to see how the relationship between the global supply chain and governments evolves with time. The most difficult part will be balancing regulatory compliance with operational efficiency.
Meet the Real Supply Chain Innovators
There’s also an interesting question to be asked about what groups are pushing innovation in supply chain management. This Supply Chain Management Review article identifies the industry, academia, and students as the three groups that deserve the most credit for innovating.
Beyond innovation itself, it’s essential for supply chain stakeholders to evaluate industry innovations and choose the ones that have the most power to make a difference in their organizations. As noted above, this industry has a long history of relying on manual processes and personal relationships (which are great). However, the modern demands of the global supply chain demand the adoption of innovations (including technology) if firms hope to survive and thrive.
Creating the Ideal Customer Experiences
There are many reasons to pursue supply chain excellence, but one of the most important is to improve the customer experience. At a recent FreightWaves’ live event, SAP’s SVP of Digital Supply Chain Networks had this to say: “Everything now is surrounded by the customer experience. It’s the mentality: When I want it, I want to click it once and get it delivered to me.”
This comment was made in a consumer-driven, B2C context, but it applies to almost any situation across the global supply chain. Fragmented supply chains and systems make it nearly impossible to live up to these modern-day expectations. Unified supply chains and systems with proper connectivity and integration make it possible for stakeholders to meet expectations, gain a competitive, and scale to maximize the full potential of their organizations.
The Right Technology for This New Era of Supply Chain Management
Effective supply chain orchestration is here. At Cargologik, we offer an orchestration platform that supports your team in everything from establishing visibility to managing documents. In this new age of supply chain management, you need tools that help you keep pace and secure your future. Our platform is the tool to help you manage your supply chain effectively so that you can grow into future success.
Get started with our supply chain orchestration platform now.
