The Covid-19 pandemic has played havoc with global trade flows, as consumers have displayed an increased need for goods while manufacturing struggles to meet demand. The system for moving those products has been under unprecedented stress for months, and its weak spots have been laid bare.
Well-publicized shortages stoked fears that many high-demand items would be in short supply has led to a change in spending patterns, and now, the supply chain crisis is in the spotlight as a key contributor to inflation.
High-growth companies prioritize automation and commercial intelligence
The object lesson of the pandemic has been the extent to which the global economy has been built on decades of decline in the cost of moving goods from sellers to buyers. The pandemic exposed the weak points of supply chains and the risks of concentrating production in a few places of the world. Now the supply chain capacity crunch has caused shipping costs to soar.
For companies bringing products to global markets, having the upper hand will depend on the reliability, and resilience of supply chains. As a recent Descartes Datamyne survey indicates, competitive strategies that achieve results rely on high-tech approaches. Two areas of investment topped the list of must-haves: automated processes for faster customer response and enhanced global trade intelligence for identifying potential suppliers, customers, markets, and trade lanes.
How Descartes Can Help Organizations Handle Supply Chain Disruptions
High-tech adopters are in a strong position to efficiently take advantage of multiple data streams, and that includes automated interfaces that monitor and track shipment manifests and Customs import records.
The global supply chain congestion is a challenging issue affecting international companies looking for ways on how to handle supply chain disruptions and shipping delays. Solutions like Descartes Datamyne have significantly eased the process of identifying alternate sourcing options or potential detours around supply chain disruptions. These tools provide the trade intelligence needed to design, build, and operate resilient supply chains. Combined with an organization’s own proprietary data, Descartes’ Global Trade Data equips logistics strategists to outmaneuver the disruptions, capacity crunches, and the increased transports costs that look likely to be a feature of the post-pandemic global market.
For more information on how top performing organizations are managing the current supply chain crisis, check out the Descartes Datamyne 2021 benchmark survey and learn more about how companies have invested in technologies to automate processes and enhance trade intelligence for optimizing supply chain efficiency, responsiveness, and resilience.
You can also visit our Global Shipping Crisis Resource Center, which is updated regularly to provide the latest trade data and insights from Descartes Datamyne.