While each year brings its own wave of challenges, one thing is for certain — supply chain strategies are rapidly shifting as 2024 begins.
This is driven by a variety of factors. For instance, elevated operating costs are challenging suppliers and manufacturers who are under competitive pressure to maintain capacity. Meanwhile, geopolitics, labor tensions and softening freight demand continue to pose risks to all modes of transport.
At the same time, the last-mile delivery sector is also experiencing a major change — carrier diversification is slowing as FedEx and UPS offer competitive discounts to win back volume. And despite focus on lean inventories and preventing gluts, several goods are in danger of supply shortages.
We spoke with some leading supply chain experts and executives to see how procurement teams, logistics managers, shippers and suppliers can position themselves for success in the year to come. Here’s what you need to know.