From floods to hurricanes to historically high ocean rates, 2018 has dealt one challenge after another to supply chain professionals. In our recent infographic, we broke down the stories making headlines and causing turmoil for shippers this year, including:
- April 1’s ELD mandate, which led to a reported drop in productivity for 83 percent of trucking companies
- The $250 billion in Chinese tariffs President Trump has imposed this year, with more looming on the horizon
- The shocking 50 percent year-over-year increase in ocean rates, as freight carriers tried to wrestle back control of pricing and improve profitability
As for 2019? More uncertainty and complexity are sure to follow. Measures like the bunker adjustment factor, which many ocean carriers are enacting to offset rising fuel costs, will have an impact on organizations’ bottom lines. Meanwhile, two in three businesses say they lack visibility into logistics processes, and 70 percent of businesses experience supply chain disruptions. These current and impending challenges underscore the importance of an agile, technology-driven supply chain.
Tech Investments Are on the Rise
By preparing with the right mix of tools, people and processes, businesses can equip themselves to handle whatever 2019 brings. Technology is the backbone of that strategy: A centralized platform is key for improving visibility, optimizing operations, gaining insight and delivering value across the supply chain.
Recognizing these opportunities, a new wave of digital logistics startups aims to help businesses enhance nearly every area of supply chain activity. Venture capital continues to pour into the sector, and shippers are increasing their tech investments to gain a competitive edge in the market.
In a report set for release November 13, AGL will reveal:
- How much businesses are spending on supply chain technology today, and how much that number will rise by 2022
- The growing role that disruptive technologies play in overall spending
- The top five areas for technology innovation
Visit our website to download a free copy and get an inside look at the technologies that could transform your operations in the years to come.
Want more competitive insights? Download our infographic for a look back at supply chain in 2018 and strategies to prepare for the year ahead.