While there’s no magic wand for success in today’s global trade landscape, supply chain visibility and collaboration are key ingredients to building supply chain operations that help your organization thrive.
That’s the theme of this week’s exploration of the headlines, which includes notes on the importance of visibility and collaboration, the new supply chain normal, ongoing supply chain risks, the stress test coming to the United States, plus more. Continue reading for the latest from around our industry, and get started with Cargologik if you need a platform to help your organization thrive despite today’s supply chain challenges.
The Key Roles of Supply Chain Visibility and Collaboration
It’s no secret that the modern supply chain is far different from the one we knew in the 20th century and even different from the one we knew before the days of the COVID-19 pandemic. Supply & Demand Chain Executive recently wrote about the three keys to cultivating success in the modern supply chain, and two of the keys are aligned with why Cargologik exists: visibility and collaboration.
The article discusses the importance of visibility upstream and why it’s essential to establish end-to-end visibility for sustainability, compliance, and other purposes. Upstream visibility is a must-have for any business that wants to insulate itself from risk.
Collaboration is also important for supply chain participants that have compliance and sustainability goals in place. These participants must break down silos and build close cooperation with everyone from suppliers to last mile delivery partners and even customers. Without visibility and collaboration, operational efficiency is almost impossible to achieve.
Getting Accustomed to Our New Supply Chain Normal
Everyone’s gotten the message by now: We’re operating in a completely new supply chain normal, one that will require BCOs, LSPs, and others to rethink almost every aspect of moving goods and products around the world. An HSBC analyst says that disruption is part of this new normal and that organizations must start “prioritizing supply chain resiliency and investing in supply chain infrastructure.”
Gartner writes about three strategies supply chain leaders should be using to maintain operations and a high level of success in this new normal. One recommendation is to “rely on external partners to overcome technical and regulatory barriers,” including “innovators, startups, and solution providers.”
Get Ready for the U.S. Supply Chain Stress Test
The Loadstar reports that U.S. imports are “on course for volumes at a height not seen over the past two years,” and that this spike in imports will create a “stress test” for the nation’s supply chain. Imports alone could create this stress test, and that doesn’t account for potential weather events, work stoppages, and other unforeseen disruptions that could further complicate the situation.
The end of Q2 and the beginning of Q3 each year mark the start of peak shipping season, which is contributing to this increase in U.S. imports. Some have predicted an early start to peak shipping season this year due to disruptions around the world, and peak season surcharges have landed already, reinforcing that theory of an early start.
The Global Supply Chain Remains at Risk
The global supply chain remains at risk of another COVID-like meltdown, according to a new book and economic experts. In the meantime, as we wait for the next global cataclysm to bring trade to a halt, the world is dealing with a series of comparatively minor disruptions that are complicating things. For example, the Red Sea is still impacted by Houthi rebel missile attacks, and flooding in Brazil has slowed supply chain operations in that part of the world.
These disruptions do impact the economy at large, including a slowdown in factory growth in the United Kingdom that’s being attributed to disruptions. Publications are starting to ask just how fragile the global supply chain is and how it can be fixed.
Customer Expectations Create Supply Chain Pressure
Customers are the driving force behind demand in the supply chain, but their ever-increasing demands are also putting more pressure on it. As consumers expect faster and more affordable delivery, as well as delivery options and other opportunities to customize their experiences, some organizations are attempting to build customer-centric supply chains.
Nearshoring Arrives in the United Kingdom
We recently wrote about the grand reshuffling of the global supply chain that’s happening due to deteriorating U.S.-China relations and other factors. Nearshoring as a response isn’t just limited to North America, though. We’re starting to see signs of nearshoring in Europe as well, with organizations in the U.K. dealing with Brexit and looking to mitigate their overall risk.
Get Visibility and Collaboration With Cargologik
The demands of the modern supply chain require a modern platform that can provide visibility, collaboration, document management, plus other functions for BCOs and LSPs. At Cargologik, we’ve built a comprehensive platform that eliminates fragmentation so that it can serve as your single source of truth for keeping your supply chain orchestration moving forward despite disruptions and other challenges.
Contact us to learn more about using Cargologik to power visibility, collaboration, and success across your supply chain.
