The sun is shining, temperatures are rising and many hope that consumer demand will, too. But supply chain leaders are re-examining where those goods might come from in the future. Let’s dive in.
The Lead: Closer to Home
“ Shippers are weighing their options and determining what their inbound networks need to look like, including where global supply should come from,” FourKites’ GM of Network Collaboration Glenn Koepke points out. “China will always be a dominant player in global trade; however, we have seen many shippers look to Southeast Asia, India and LATAM as alternatives, while still keeping Chinese suppliers for the local market.” – Glenn Koepke, GM of Network Collaboration at FourKites
As CNBC reports, a new “reshoring” trend is set to upend global supply chains as companies look to source products — such as clothes and computer chips — closer to home, turning away from manufacturing powerhouses like China. In an analysis of S&P 500 earnings call transcripts, Bank of America said mentions of “reshoring” were up 128% in the first quarter of the year against the same time a year ago.
In View
FourKites founder and CEO Matt Elenjickal argues that
the proliferation of so many new supply chain solutions has further pushed the industry toward siloed ways of thinking and working — but there’s a better way. In his latest for
Logistics Viewpoints, Matt shares a few ideas in a recap of his Gartner Supply Chain Symposium/Xpo session with Rob Haddock, Group Director, Planning & Logistics at Coca-Cola North America.
Transport Topics reports that
logistics providers are working to set freight scheduling standards, making it easier for carriers to schedule their appointments and thereby reduce detention time, idle time, fuel consumption and emissions.
As inflation-weary shoppers look for bargains,
dollar and convenience stores have an opportunity to seize the moment. But it isn’t enough to attract new shoppers; they need to find ways to keep them coming back long after the economy has recovered.
Here's how.
Lisa Baertlein at
Reuters writes that while
companies are wringing out costs to shelter profits from eroding demand,
companies are also investing in everything from technology to track the movement of goods to robotics and artificial intelligence to improve results.
Tell us what you think by answering this 1 question:
Is your organization investing in supply chain technology?
Numbers to Know
Shipment volume from Mexico to the US has increased the past 2 years, while the percentage of loads delayed has declined
The number of delayed shipments for Mexico exports has decreased 25% year over year as the volume from Mexico to the U.S. tracked by the FourKites platform has increased by 20% year-over-year. Meanwhile, F&B and automotive shipments tracked by FourKites from Mexico to the US have increased 36% and 14%, respectively, from May 1, 2022 to 2023.
“ Words of Wisdom
With heightened uncertainty driven by elevated levels of inflation and regional banking issues, manufacturers need to ensure that they can identify disruptions in real time before the issue creates ripple effects through the supply chain. It is critical to be able to pivot when the sales and operation planning and execution are mismatched based on real-time events.
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TOM GREGORCHIK FOURKITES VICE PRESIDENT OF INDUSTRY STRATEGY, MANUFACTURING
ICYMI
With FourKites being named a leader in the 2023 Gartner Magic Quadrant for the third consecutive year, Matt reflects on the journey that’s led us here and the secrets to our success (hint: we didn’t do it alone).
It’s summertime! That means food and beverage shippers are trying to keep up with demand, making sure that shelves stay full of frozen treats and grilling meats. In an upcoming webinar — coming to you from Glenn Koepke’s backyard — you’ll learn how supply chain visibility can help with seasonal shipping, new product promotions and more, including some hot grilling tips! Be sure to register – you won’t want to miss this one.
Tom Gregorchik, FourKites VP of Industry Strategy, Manufacturing, shares how you can harness a changing North American logistics landscape for growth.
FourKites founder and CEO Matt Elenjickal argues that
the proliferation of so many new supply chain solutions has further pushed the industry toward siloed ways of thinking and working — but there’s a better way. In his latest for
As inflation-weary shoppers look for bargains,
dollar and convenience stores have an opportunity to seize the moment. But it isn’t enough to attract new shoppers; they need to find ways to keep them coming back long after the economy has recovered.
Lisa Baertlein at
