Logistics and Supply Chain Management Top 3 Trends to Expect In The 2020s
In recent years, we have seen substantial changes in the way we consume products[i]. Modern-day customers demand high-quality items and swift delivery of orders[ii]. This has led companies to change their Logistics and Supply Chain Management 策略. And due to the COVID-19 pandemic and lockdown, the supply chain landscape has changed drastically.
In the earlier days, the supply chain was considered as just another department in the company. Now top management works closely with this division so that the supply chain management 策略 align with the company’s long term goals.
With new changes taking place, here are three 趋势 in Logistics and Supply Chain Management you can expect to see in the 2020s:
Due to same-day-delivery and similar 的趋势, businesses are considering the establishment of more regional factories[iv]. For the past couple of years, the globalization of supply chain management has been the key focus. 然而, during COVID-19 many countries struggled to supply essential products because import halted and they lacked local production.
在接下来的几年里, we will likely see companies managing a major portion of the supply chain locally[v]. Hence logistics and supply chain professionals will have to update contingency plans, 运载系统, routes and relationships with the suppliers.
Digitalization of Logistics Management:
In this decade, we can expect technology such as Blockchain to revolutionize logistics management. This system will take over the old manual methods. And offer better audit checks, timely updates about the status of invoices and superior transparency in logistics[vi].
As the world is becoming more digitized, automated logistics handling is not a far-fetched idea. Hence businesses will prospectively use modern technology to optimize Logistics and Supply Chain Management.
China has been the major manufacturer of goods for a long time. In 2020, china’s lockdown affected the supply of fertilizers, machine parts, textiles etc. 在全球范围内(七).
Now businesses realize the importance of having multiple sourcing stations to maintain a consistent supply. We can expect companies to set up factories in more than one country soon(八). With this, new challenges will surface for Logistics and Supply Chain Management professionals as they manage many locations to ensure the quality of products and satisfaction of the end-customer.
Logistics and Supply chain management is changing and companies that don’t evolve will be left behind. Technological advances today have made it possible to automate processes and manage departments more efficiently. And in light of the pandemic, the flaws in Logistics and Supply Chain Management 现在很清楚了.
With major changes expected in the Logistics and Supply Chain Management ecosystem, it is wise to stay conversant about all the new developments. For that, you can enrol in a masters’ program and learn structured modules. Online masters’ degrees are a terrific way to learn about new advances. Especially for professionals who see a future for themselves in the Logistics and Supply Chain Management 行业!