The following is a brief look at some timely subjects being considered for further exploration in next year’s Annual 3PL Study.
We introduce the term “X-shoring” to address shippers’ moves toward rebalancing supply chains to be more flexible and adaptable, suggesting that shifting global economic conditions may frequently change preferred sourcing locations. Making these choices requires better data and improved decision-making strategies. Such insights will enhance shippers’ ability to employ world-class supply chain management to drive profitability.
Global Trade Management
Most companies believe global trade management is essential as they rely more heavily on global trade for growth in a weak economy. However, issues such as shifting trade lanes and new free trade agreements are making global trade more complex.
Growing data volumes (sometimes called Big Data) generated from increased monitoring of more aspects of supply chain operations with greater frequency and granularity has emerged as a disruptive innovation opportunity for shippers and 3PLs. Converting this data into business value is the heart of the challenge and a driver for expanding 3PL relationships.