How do you keep track of all the concurrent events that can affect your operations? First, supply chains are getting better. While many challenges persist, there have been improvements in most areas and markets served.
For instance:
Freight capacity with ocean and trucking carriers has stabilized, and rates have normalized or dropped below pre-pandemic levels.
Lead times – from food to minerals – have varied across markets, with some improvements and extensions, but overall volatility has improved.
The expectation is for Logistics and Freight networks to remain relatively stable in 2023.
Concurrently, some headwinds may be in store. For instance:
The Port of Seattle is experiencing a labor disruption, potentially impacting container lead times on the West Coast and spilling over into other ports.
The Federal Reserve's interest rate decisions continue to affect demand for some goods, but certain customers, like utilities and contractors, remain unaffected.
Centralized, data-driven alert systems based on customer-specific parameters are becoming increasingly essential to help decision-makers cut through the multiple feeds of information and quickly identify those with immediate negative or positive impacts.