Risks abound in the global supply chain and goods movement systems. The only successful strategy to thrive is to create a resilient supply chain. According to the Global Port Tracker (GPT) report from Hackett Associates and the National Retail Federation (NRF), the specter of labor strife and new tariffs, along with strong sales, is driving U.S. retailers to keep imports surging through the spring.
According to a McKinsey study, investment in supply chain digitization is slowing down after rapid growth in 2020-2023. On the other hand, the McKinsey Global Supply Chain Leader Survey finds that nine out of 10 respondents continue to experience supply chain challenges.
Given the uncertainty of the economy creating extreme push outs and pull ins with customer orders, companies that can successfully deal with uncertain and changing conditions will thrive.
Manufacturers should work to reduce materials, energy consumption, and inefficiencies to improve their carbon footprint and achieve the triple bottom line.
Proactive companies pay close attention to opportunities to increase packaging efficiencies throughout the end-to-end supply chain to improve their profitability and sustainability.
The use of technology and automation will be of paramount importance to not just supplement the labor force, but also to meet ever increasing customer requirements and provide visibility across the end-to-end supply chain.
As companies are searching for ways to successfully navigate these turbulent times, the best ones are achieving a win-win focus on the customer and costs.
With sustainability increasing in popularity and the carbon footprints of end-to-end supply chains evaluated, innovation and manufacturing will skyrocket.