Freight Does a Forward March
Most professionals say they expect COVID-19 to shape their supply chain into the medium term. The pace of change will be unlike anything since 2008, accelerating existing trends and shifting priorities, says a Ti and Bollore Logistics survey. Key findings include:
- 28% of respondents say they plan to shift volumes away from air freight in favor of other transport modes, largely to secure capacity and lower rates after largescale disruption in the airfreight market.
- 64% plan to make more use of the spot market to better manage surge capacity and secure more favorable rates.
- 25% will use more digital logistics offerings in the future, indicating that the need for greater visibility, reactivity, and flexibility is accelerating digitization.
- 76% say the crisis has increased their demand for real-time visibility.
- 64% plan to introduce more supply and flowplanning flexibility as a result of the pandemic.
- 56% say they plan to improve their business continuity planning for future crises.
- 80% will continue to integrate new technology into their supply chains in the future, and plan to use a mix of off-the-shelf and in-house solutions.
- 26% expect logistics service providers to offer their own technology solutions.
- 67% say that sustainability will be a key factor in the development of their future supply chain.