As the world deals with supply chain challenges and BCOs, LSPs, and others search for solutions, the concept of collaboration is emerging as essential to supply chain success. Collaboration alone isn’t the only solution, but it’s how the many different organizations and entities involved in any given shipment work together to overcome disruptions and other challenges.
Continue reading to learn more about collaboration and its role in supply chain success today. Contact the Cargologik team to discover how our platform promotes, empowers, and facilitates collaboration throughout the lifecycle of any given shipment.
Achieving Supply Chain Excellence in an ‘Increasingly Volatile Environment’
This article by Inbound Logistics paints a stark picture of an “increasingly volatile environment marked by supply chain disruptions, geopolitical tensions, and ever-changing consumer demands.” According to the piece, solutions for navigating this challenging landscape include new technology, the power of data, source diversification, and collaboration.
Collaboration is the foundation of the Cargologik platform. So many different parties are involved in any given shipment. Without a centralized place for these parties to communicate and access common information, it’s far easier for things to go astray with a shipment. Imagine dealing with Red Sea missile attacks, drought conditions around the Panama Canal, labor stoppages, bridge collapses, and other disruptions without effective collaboration in place.
Inbound Logistics recommends prioritizing “transparency and communication” and building strong relationships “with suppliers, logistics providers, and other key stakeholders.” This collaborative approach to supply chain management allows organizations to “proactively identify potential disruptions and develop contingency plans to mitigate their impact.”
The Importance of Contingency Planning for Supply Chains
Speaking of contingency plans, Fashion Dive is recommending that shippers diversify their port usage and improve visibility to better prepare for unexpected disruptions. The story suggests that the pandemic caught organizations flat-footed if they did not have contingency plans in place. Shippers and others in the supply chain landscape have learned their lesson from the pandemic era and are now being more proactive about prepping for the unexpected.
Visibility: An Essential Piece of the Puzzle
Visibility remains a key piece to the puzzle of achieving operational efficiency and supply chain ROI while also creating outstanding customer experiences. SupplyChainBrain leans into the concept of visibility by looking at the prescription drug industry.
Greater visibility in the prescription drug supply chain is great for everyone, as “inefficient supply chains drive up the cost of drugs, whether brand-name or generic.” The prescription drug industry is behind others right know as it relates to supply chain visibility, the retail industry included, but the industry at large has made progress since the challenging pandemic years.
Key Supply Chain Risks in the Months Ahead
Supply & Demand Chain Executive examines the key risks that organizations will face in the coming months, including geopolitical unrest, sustainability imperatives, inflationary pressures, and talent shortages. The story recommends building resilience to overcome these risks, including the task of “continuously monitoring for signals” by procurement departments. When leaders and decision-makers achieve the right level of supply chain resilience, they are better positioned to “pivot swiftly when risks materialize,” including transport delays, cost escalations, and quality declines.
The Impact of Rising Shipping Costs
Rising shipping costs are starting to hit companies hard, including organizations in the retail and manufacturing industries. Construction World recommends “investing in technologies to improve supply chain visibility and optimize shipping routes” to help mitigate these rising costs.
Companies of all sizes are dealing with these challenges. Inc. recently wrote about Boeing’s supply chain “woes” and how they’re slowing down airplane production. As manufacturers, big and small, deal with these supply chain issues, embracing technology is one of the best paths to getting operations back on track, taking control of costs, and maintaining customer satisfaction.
What to do About Invisible Threats
Supply Chain Brain has written a white paper that explores the “invisible threats” that pose a risk to the financial health of both private and public companies. This white paper emphasizes that supply chain risk and supplier financial health go hand in hand — and that decision-makers at organizations must recognize and understand this fragile link in order to reduce risk.
Reduce Your Supply Chain Risk With Cargologik
Cargologik is the supply chain collaboration platform that helps, BCOs, LSPs, and others reduce their risk. Our solution helps with everything from end-to-end visibility to document management, serving as a single source of truth as any organization tries to navigate modern-day supply chain challenges.
In an industry plagued by supply chain and systems fragmentation, Cargologik helps break down silos so your business can thrive and grow. With Cargologik in place, your organization can fully orchestrate its supply chain with ease.
Get started with Cargologik to build collaboration and improve your supply chain operations.
