The business landscape today no longer sees a reliable supply chain that handles the movement of material and goods at an efficient pace. Shortages and long lead times are apparent in almost every retail industry, forcing the world’s view of the supply chain into something different. Prior to the crisis and Coronavirus (COVID-19) pandemic panic buying, most consumers did not think of the supply chain when buying goods. But now, the supply chain is in the mainstream news cycle and a part of everyday conversation.
The traditional role of warehouses as mere storage facilities has been changing over the years. Their emerging role in supply chain management includes value-adding logistics activities that improve productivity, such as cross-docking, just-in-time delivery, and reverse logistics.
Previously, supply chain management was not universally thought of as a strategic task but instead was thought of more as a cost management job. Today, that focus shifts to a c-suite-level approach and is now considered essential for resilience. Companies that did not shift to putting supply chain management first throughout the past two years might find themselves falling behind in several ways, not just in missing out on material, but also lacking the ability to ship products from A to B or even deeper problems.
When looking at industry trends, there often isn’t a key theme connecting all of them – but here in logistics and supply chain management, there is. Customers expect better, faster shipping, while keeping prices as low as possible and improving sustainability. This has and will continue to put pressure on every step of the supply chain, requiring significant transformation in almost all facets of the industry. For any business to compete, especially against large multinationals, our research shows that process optimization, efficiency and relationship-building will all be critical in 2023 and beyond.
