For an industry that didn’t use to be in the headlines, logistics and supply chain management continues to make front page news. While the recent drop in freight rates should have been good news for those that source product internationally, this bright spot has been overshadowed by a slump in sales as rising inflation rates and a looming recession impact consumer confidence.
Trying to manage the complexities of supply chains is like a game of Whack-a-Mole. Nobody knows where the next surprise will emerge. Then when it does appear, being able to react fast enough or decisively enough to tackle it is a skill that many companies are still trying to master.
Predicting the future and knowing when to make a move, without being too fast or too slow, may be the difference between success or failure.
Take the recent collapse of Made.com. Over a year ago it was celebrating a deal to more than double its warehouse space to meet booming demand. Then, as demand fell, this stock-holding became a drain on its finances.
So what are the opportunity areas for international supply chains and where can businesses create supply chain advantage beyond just price?
While the recently announced Maersk slow-boat from China might go some way to addressing bloated inventories, this by itself won’t solve the issue.
To learn what our customers are saying about their biggest challenges and what they see as the game plan for getting on top of these, we’ve conducted some research, and you can download our report here.
By Dan Gill, Ligentia Chief Customer Officer