As we face potential future disruptions, the key will be building resilience and agility in our supply chains. This means embracing new technologies, automation, and digitizing antiquated processes.
While the disruptions caused by the COVID-19 pandemic have subsided, businesses recognize the need to take proactive measures to prepare for future disruptions. From disrupted shipping routes to depleted inventory to excess inventory, we watched companies struggle to adapt to the unprecedented changes that came with the pandemic.
However, we have also seen the supply chain’s remarkable ability to bounce back and innovate. As we face potential future disruptions, the key will be building resilience and agility in our supply chains. This means embracing new technologies, automation, and digitizing antiquated processes.
In her recent article titled Navigating Supply Chain Disruptions: What will it Look Like?, our CEO and co-founder Carmit Glik aptly highlights issues small and medium size businesses (SMBs) face in diversifying their suppliers, navigating complex regulations, and mitigating potential disruptions.
Many companies are seeking new manufacturers outside of China, and retailers of all sizes are searching for alternate supplier solutions abroad. However, finding alternatives to China is easier said than done. Despite disruptions caused by COVID-19, China maintains its dominant position in production and is unlikely to lose control of its position as the top manufacturer and supplier.
India is becoming attractive for businesses seeking supplier alternatives outside of China due to its expanding economy, educated workforce, and pro-business government. Additionally, its status as the second-largest English-speaking country in the world and projected takeover as the most populous country later this year make India a promising player in the global supply chain.
Nonetheless, supply chain risks remain, and businesses must take proactive measures to manage potential disruptions caused by factors such as global tensions, price changes, natural disasters, and more. As Glik puts it, “Anything could happen to any country at any time, which can cause the next major issue.” Diversifying suppliers and finding additional suppliers outside of China can help businesses build a more resilient and agile supply chain, but the process is complicated and time-consuming.
In this year’s Material Handling Industry (MHI) report, 74% of respondents are increasing their investment in supply chain technology and innovation. In fact, investments for the upcoming years are expected to be higher than pre-pandemic levels.
The report highlights that most companies are investing in Inventory & Network Optimization, Cloud Computing & Storage, Sensors & Automatic Identification, and Advanced Analytics to reduce the risks associated with supply chain disruptions. By implementing these technologies, companies can effectively monitor, predict, and respond to potential disruptions in real time, making their supply chains more resilient.
By leveraging digital technology, Ship4wd assists businesses in focusing more on their core functions, enabling them to shift their focus from the complexities of shipping challenges such as fluctuating prices, language barriers, customs, and regulations. These solutions are especially advantageous for small and mid-sized enterprises and retailers, who may not have access to the high-touch services offered by multinational shipping companies.
As Glik has noted, the adoption of digitization in managing global shipping and logistics has been slow. However, Ship4wd is at the forefront of digital transformation in the global freight industry, offering sustainable, customer-focused, end-to-end global digital transportation solutions. She adds, “A strong, digital logistics player can help these businesses navigate confusing and cumbersome global supply chain management processes.”
One potential solution that some have proposed is reshoring or moving production back to one’s own country. However, this solution is far from achievable for countries like the United States.
As Glik points out, “Since the U.S., like many countries, moved production overseas, the necessary infrastructure for manufacturing, warehousing, and shipping has crumbled, and labor forces haven’t been trained the necessary skills to fill the needed jobs.” Until reshoring becomes viable, global trade remains the best option for diversifying suppliers.
Building Resilience with Ship4wd’s Digital-First Solutions for SMBs
In conclusion, the potential for supply chain disruptions remains a significant challenge for businesses. Nonetheless, companies like Ship4wd play an essential role by helping businesses navigate the complexities of global supply chain management.
Glik believes that “while digitization alone can’t prevent all disruptions, it allows companies and retailers to focus more on their core business and less on the complexity associated with shipping challenges like price fluctuations, language barriers, customs, regulations, and more.” Digital-first and user-friendly solutions such as Ship4wd can help companies mitigate potential disruptions and stay ahead of the curve. With more significant insights into changing market conditions, businesses can confidently expand their reach and explore new global opportunities.
By leveraging digital-first solutions, companies can achieve greater efficiency, reduce costs, and improve customer satisfaction. The future of supply chain management is promising, and Ship4wd is leading the way in making it more accessible and beneficial for all businesses, big and small.
We at Ship4wd are dedicated to helping small and mid-sized businesses get the most out of their shipping processes. Regardless of their experience in logistics, business owners can count on us to get their shipments to where they need them.