Cybersecurity remains a top concern for supply chain risk management. Supply chain cybersecurity threats impact data integrity, and past attacks have proven just how vulnerable the supply chain is. In three years, supply chain attacks are up 742%, and cybersecurity experts don’t foresee cyber attacks decreasing anytime soon.
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The pandemic brought to light a host of visibility and transparency gaps in the supply chain. Within the last few years, these gaps culminated in huge disruptions, backlogs, and delays, which especially impacted the ports of California.
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The speed of global commerce is only increasing thanks to new customer demands and advancements in shipping and warehousing technology. To stay ahead of the curve, port systems need to strengthen strategic partnerships and stay up to date on the latest hardware and software available.
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Excess inventory is a problem for many companies right now. Although e-commerce sales grew to $782 billion in 2020 (a 30% increase) — and rose again in 2021, to $960 billion — consumer spending has slowed, growing only 0.3% in the second quarter of this year. And e-commerce sales as a percentage of all retail purchases dropped to 13.9% in Q2 2023, as well.
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Eliminating warehousing from your supply chain reduces the time, cost, and effort in transporting cargo to its final destination. It’s called cross-docking, and it trades handling and storage for efficiency gains.
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2023 marked record cargo numbers for the Port of Los Angeles, as it celebrates its 23rd consecutive year as the busiest container port in the US.
In January, Gene Seroka, Executive Director of the Port of LA, gave his annual State of the Port of LA address. He announced priorities for 2023 and a firm commitment to progressing initiatives that “make the future equitable, prosperous, and sustainable.” Here’s what you need to know from the State of the Port address.
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The order fulfillment process is a huge part of the ecommerce customer journey. Get everything right, and you will gain customer loyalty and new referrals in return. But when minor inefficiencies litter the process, they can quickly compound into major problems downstream.
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Electronic data interchange (EDI) streamlines the transfer of business documents between companies by reconfiguring them into a standard electronic format. A bold step toward greater interoperability, this is done using specialized software that uses EDI mapping to standardize the documents, which allows them to be received and read using different software suites.
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The pandemic put considerable focus on the supply chain — largely due to the significant, at times costly, disruptions it caused. But behind the scenes, the turmoil of 2020 and 2021 also inspired the innovation needed to meet new expectations, especially when it comes to safely moving temperature-sensitive materials worldwide.
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With more emphasis being placed on supply chain stability and resilience, companies are looking for ways to update their supply chain management methods to avoid disruption.
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