Supply Chains Slowly Coming to Grips with Disruption
Many organizations continue to exhibit COVID-19-related symptoms in their supply chains such as late or failed deliveries. Their preferred remedies include the adoption of new technology platforms and e-commerce solutions, and new or expanded delivery services.
Supply chain leaders told GlobalTranz Enterprises they were concerned that continuing challenges will hamper their peak season performance. Sixty-four percent reported they’d dealt with more late or failed deliveries than what was typical for them. Nearly 60% admitted they were concerned about not having resources to meet peak customer demand, and almost half believed their peak season will bring in less revenue than last year.
“The economic disruption experienced in the last several months has pushed business leaders to make quick adjustments to meet new consumer demands and mitigate delivery problems,” Bob Farrell, GlobalTranz chairman and CEO, said in a statement released today. “Businesses remain challenged by new demands on their supply chain and need partners that can help them solve issues around sourcing, fulfillment and final-mile delivery.”
But companies have changed approaches and made progress during the past six months. According to GlobalTranz:
- 56% reported adopting a successful omnichannel strategy.
- 81% made changes to streamline and simplify their payment processes for customers.
- 74% said they are more likely to outsource logistics and transportation services.
“With a lot of obstacles to navigate as we look ahead to 2021, we’re also seeing positive trends around the continued growth of e-commerce demand and new opportunities to reach the end-customer,” noted Ross Spanier, GlobalTranz senior vice president of sales and solutions.
Companies that participated in the online survey in late September and early October were bullish about the future. Nearly half predicted their supply chains will be operating better in the next 3 months. Eighty-six percent anticipated their supply chain operations will be improved within a year.
The full report can be downloaded here.