Future of Supply Chain

Future Of Supply Chain

While there’s no denying supply chain logistics are always evolving, it’s safe to say 2020 caused disruptions that most consumer goods brands weren’t accustomed to seeing. Now, there are new challenges companies must tackle to remain successful.

2021 supply chain overview

In some ways, global supply chains have been able to get back on track following a very noisy 2020. And yet, there were a number of supply chain disruptions that carried over into 2021 and caused even more difficulty for e-commerce retailers big and small.

Among the most common supply chain challenges in 2021 were things like port congestion, manufacturing delays, and extreme weather events (including hurricanes, tornadoes, wildfires, and more). On top of that, there were also numerous outliers to contend with — like new COVID variants, factory shutdowns, and the now infamous situation with the trapped Ever Given.

The state of supply chains in 2022

Companies that survived the volatility of the last year likely did so by getting lean, selling through inventory, and focusing on their working capital.

At times, the supply chain crisis has no doubt felt unwieldy. Suppliers and manufacturers from all over the world have largely been put to the test — encountering massive stock shortages, fulfillment delays, and lengthy backorders on their most popular inventory items.

Supply chain challenges:

1. Material scarcity

2. Increasing freight prices

3. Difficult demand forecasting

4. Port congestion

5. Changing consumer attitudes

6. Digital transformation

7. Restructuring

8. Inflation

What do you think about how to overcome supply chain issues?