The New Normal: A look at CSCMP’s “Permanent Volatility” Report
In today's ever-changing supply chain landscape, staying informed is crucial. That’s why I want to share a must-read for industry professionals: the 35th annual State of Logistics Report from the Council of Supply Chain Management Professionals (CSCMP) and Kearny, a global consulting firm.
This report offers what I’d consider to be an unbiased and insightful look at the current market, delving into key trends impacting all segments of the supply chain - shippers, carriers, manufacturers, and 3PLs.
One concept that resonated with me is the term “permanent volatility”. The report highlights how disruptions like inflation, climate change and geopolitical conflicts have created a new normal for supply chains - one characterized by uncertainty. I think we all agree that none of these disruptions will be solved quickly.
Adapting to the Wave of Uncertainty
Despite these challenges, the report showcases the remarkable adaptability of the logistics industry. Logisticians are actively investing in technologies that enhance resilience, agility and flexibility. This proactive approach allows them to better navigate disruptions and ensure smoother operations.
Here are some key takeaways:
Slower Global Growth: The report predicts sluggish global economic growth of 2.5% this year, marketing the slowest half-decade of outA Call to Actionput in three decades.
Persistent demand challenges: Demand hasn’t fully recovered from the Covid-induced recession, adding another layer of complexity to the equation.
Geopolitical Instability: The report emphasizes the impact of geopolitical issues on supply chain transactions, creating more hurdles for operations.
A Call to Action
In this environment of "permanent volatility, staying informed and proactive is essential. This report provides invaluable insights for all industry professionals, allowing them to adapt and thrive in the face of challenges.
I highly recommend downloading the full report (https://cscmp.org/CSCMP/CSCMP/Store/StoreLayouts/Item_Detail.aspx?iProductCode=RS17-LMI) and delving deeper into its findings. Great information to have!
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