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Supply Chains Going Digital

New study identifies lost packages as a key consumer complaint; points to the last mile (even the last yard) in logistics among the most mission-critical areas for shippers to address.

In an era where technology is migrating consumer spending habits online and away from brick-and-mortar stores, the new 2019 Third-Party Logistics Study highlights how supply chains are also going digital and using science to keep pace.

 

The publication, available at www.3PLStudy.com, is created and supported by Infosys Consulting, Penn State University, Penske Logistics and Korn Ferry.

 

Here are a few notable findings from the report, released at the recent Council of Supply Chain Management Professionals (CSCMP) EDGE conference:

 

What are the top concerns and challenges in regard to supply chain decisions? This can be answered from two different perspectives: the companies that manufacture and distribute goods and services (referred to as shippers in the study) and third-party logistics providers (3PLs).

 

In order, the top nine concerns for shippers: infrastructure; workforce readiness; economic stability; freight/supply chain transparency; lack of strategic partners/suppliers in the region; regulations/tax structure; security/crime/corruption; executive-level talent; border-crossing delays.

 

The list for 3PLs: workforce readiness; infrastructure; economic stability; freight/supply chain transparency; lack of strategic partners/suppliers in region; executive-level talent; security/crime/corruption; regulation/tax structure; border-crossing delays.

 

Shifting consumer buying habits, which include a blend of in-person and online purchases of goods and services, requires quicker responses than the retail model of yesteryear. Shippers recognize the need for agility, but 42% of survey respondents said they have not made the required changes to improve their agility over the past five years. More than half (51%) of participants said they are open to new ideas, creating more opportunities for 3PLs to introduce and implement innovations.