Global Transportation Costs in 2024: Unilog Navigates Inflationary Impacts on Supply Chains

Organizations managing a global supply chain continue to face relentless challenges in 2024. The interplay between evolving global conflict and economic factors creates a new uncertainty.

But the first and most major coming challenge for supply chains in 2024, is driven by inflation. Inflation has a direct effect on the supply chain in various ways. But a foremost consequence is higher costs, that next, lead to reduced profitability, increased prices for clients and shortages in the supply chain.

In 2023 we have already felt how it is to live with the global inflation that reached 6.9%. So now the key question is: “How are we as a global 4PL Supply chain company going to deal if future inflation holds?”

1.???????? Using supply chain automation

One of Unilog's anchors is technology that's why we use and offer Logivice automation. Logivice system operates proactively, addressing exceptions and anomalies in processes to guide operators on when human intervention is necessary. Efficient processes are monitored, and documented, and the relevant shipment data is saved. If the process unfolds as anticipated, there is no need for human intervention, this contributes to lower costs and greater efficiency in day-to-day operations.

2.???????? International Shipping Strategy (strong partnerships): distribution centers in major markets and reliable suppliers

Unilog's unique global network provides access to stable, committed vendor relationships in chosen markets. Our partners are regularly audited that's why we are sure that they are up to our quality and ethics standards.? These collaborative efforts lead us to more agile supply chains that adapt swiftly to changing circumstances.

3.???????? Data analytics

One more way that can further reduce costs is data analytics. Our tool for this work is Logivice's global control tower platform. Logivice's global control tower platform aggregates real-time data from suppliers, external activities, and supply chain operations worldwide. By centralizing and processing this data, we generate actionable insights into emerging global changes. This enables our customers to proactively adapt their financial plans and operations ahead of trends and get ahead of the curve. Our control tower capabilities deliver timely visibility that drives sound, data-based decision-making.

4.???????? Visibility

We can't be sure in the scenario of the future, but with IoT technology, we can stay on top of external variables affecting your bottom line. That's why we offer Logivice's end-to-end monitoring which helps to gain transparency into factors like shipping and procurement costs.

The use of these strategies, as well as continuous learning and adaptability to the latest trends are our essentials to navigate current and future challenges. Nevertheless, the coming 2024 with its new challenges is also our opportunity to build a more resilient and adaptable supply chain with more efficient innovation.

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