U.S. supply chains are investing in supply chain technologies to accelerate resilience, agility and flexibility to navigate current and future disruption, according to the 2024 State of Logistics Report unveiled at the National Press Club in Washington. D.C., on Tuesday.
The Council of Supply Chain Management Professionals (CSCMP) releases the report annually. It examines the American economy via the logistics sector and its role in supply chains. This is the report’s 35th year.
“After reading the report cover-to-cover, I encourage you to ask, ‘what’s different’, and do I understand the course of action to ensure maximum logistics success on the road ahead?” CSCMP President and CEO Mark Baxa said. “Whether you are the senior leader or an entry-level analyst, you have decisions to make that will make a difference in your supply chain’s performance.”
Report highlights include:
Investments in emerging technologies is expected to create greater resilience to future disruption in the logistics sector and drive competitive advantage. The technologies include advanced automation, artificial intelligence, and end-to-end visibility.
During 2024, the global economy is forecasted to experience 2.5 percent growth.
Third-party logistics providers continue to experience excess capacity, high operating and insurance costs, and low freight rates.
Carriers are experiencing capacity glut, high operating costs, and lackluster demand.