Global Logistics and its Тrends

From new technologies to explore and take advantage of, to shifting regulations that require new strategies and tactics to ensure compliance, there is a lot to consider. Logistics companies must stay plugged into relevant and emerging trends to stay at the bleeding edge and remain competitive. Companies that succeed are the ones that accept the latest logistics industry trends and challenges and utilize technology in a way that enables them to capitalize.?

Some Trends are listed below with explanation;

1. Customers’ expectations

Activities are oriented to fulfill all customers’ expectations starting from meeting customer requirements, on-time delivery, green logistics, the shortest delivery time, innovation, cutting logistics costs, improving logistics quality, and schedule flexibility.

2. Networked economy?

Activities performed to improve coordination, synergies and increase the level of trust between partners also in global supply chain management processes, increase innovativeness, share capacity, risk, and enhance partner`s dependence.

3. Cost pressure?

Logistics costs are from retail, machine engineering, automotive, FMCGs, chemicals, plastics, textile industries, IT, energy, material, and mining, electronics. Higher freight rates will also result in high increment in the final price of low-value-added products.

4. Talent shortfalls

Talent was a serious situation before the pandemic. It has become a crisis since. Talents for logistics activities continue to be a challenge because they do not view logistics as an exciting career. Logistics, supply chain, and transportation industries have struggled with labor shortages in the last few years.

5. Volatility

A larger global footprint creates more volatility which is often led by unreliable elements of the supply chain that predict delivery challenging. Labor challenges and poor planning are among the major contributing factors, which should come as no surprise to those who follow industry trends closely

6. Sustainability

Companies that are members of the supply chain channels learn that they need to be concerned about social issues in their supply chains (labor conditions, child labor, and safety of stuff, as incidents can harm their reputation?

7. Increased risk and disruption

Because of everyday increased risk of natural events such as earthquakes, eruptions, and floats, companies should be aware of the fact that as members of the global supply chain management process, they do not operate alone. They have to work as a team or a network.?

8. The emergence of new technologies?

Creating an era of digitalization and decentralized IT networks intelligence. As an industry player, it’s essential to stay on top of the latest technological advancements, an find logistics technology that helps you run your business as smoothly as possible. You need, that competitive advantage to stay ahead of the curve. Because the pace keeps on quickening.

9. Lack of reliable logistics infrastructure?

Global companies face poor logistics infrastructure in several countries. The lack of integrated and adequate transportation system plans and infrastructure. Poor logistics facilitation takes a large toll on a country’s competitive advantage,

10. Increased government regulation and cultural challenges?

Government regulations negatively impact local or transnational logistics processes, and different cultural diversities will occur when companies from various countries work together. Supply chains are the backbone of our economy, and government regulations can help ensure that they run efficiently and ethically — but they can also create headaches for supply chain leaders. It is vital that managers keep a careful eye on their operations for compliance.

Ramsha Athar Khan, Supply Chain analyst, student, writer, thinker, and creative designer. She is the Executive at #UnityFoodsLimited . Connect Ramsha on LinkedIn