Supply chain challenges continue to affect shippers and logistics providers, but both groups have worked to keep product moving amidst ongoing disruptions. The supply chain has proven to be resilient even as the pandemic, natural disasters and regional issues create new obstacles to overcome.
While shippers and 3PLs continue to adjust to market demands and capacity constraints, it may take 18 to 24 months or more before supply chains may be in balance.
Given the ongoing disruptions, supply networks, which revolve around collaboration that serves the end customer, may take on greater importance as companies move toward platforms that support tight collaborative workflows between suppliers, distributors and customers. These platforms should have a solid information flow when it comes to plans, forecasts, shipments, estimated times of arrival and inventories. All of those involved need to have access to such data, which will make the supply chain more reactive and dynamic and, therefore, resilient.
The key to future proofing supply chains would include investment in the circular economy and reverse logistics, which can augment environmental sustainability. Secondly, lean warehousing can eliminate unnecessary traveling time and activities that lack added value. Omnichannel logistics can be a new standard for the future of logistics, which aid real-time monitoring of material flows and enhance the customer experience.