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Freight
LOOKING forward
Scenario building will be key in overcoming the freight forwarding challenges of 2023 . By Mathijs Slangen
If you work in global supply chains or freight forwarding , you will know by now that the disruption and uncertainty of recent years are here to stay . Supply chains are no doubt trickier to navigate than ever before . The complexity has only been exacerbated further by trade wars between the US and China , demand fluctuations , port strikes , climate change and war . Having said that , with the right planning and protections in place , there are ways to build resilience . A resilient supply chain is one that is able to absorb shocks without interrupting supply to customers . To acquire resiliency , businesses must focus on three strategies : staying on top of market trends , using the right tech and data to improve visibility , and redesigning supply chain scenarios . One measure organizations can implement to become more resilient to future shocks is building scenarios and assessing risk in advance .
Stay on top of market trends
Staying on top of market trends is the first step to ensuring your supply chain plan is accurate and that you can sidestep potential pitfalls . One challenge to consider in addition to current trends like the falling price of ocean shipping or the impact of China ’ s loosened Covid policies , is the challenge of manufacturing shifts . As supply chain disruptions continue to occur , manufacturers and shippers are increasingly exploring ways to adapt to changes in demand , production , and sourcing . This may involve diversifying their supply chains , embracing new technologies , or exploring alternative sourcing strategies . As such , businesses need to remain agile and be prepared to pivot quickly in response to changes in market conditions , in order to remain competitive and mitigate risks associated with disruptions .
Combining tech and data to improve visibility
The ultimate goal for every shipper is to have true end-to-end visibility into their supply chain , from factory to front door . While we ’ re not quite there yet , there are many great ways to glean deeper insights from the data available today .
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