Resilience And Intelligence Key Priorities For Supply Chains In 2021

A survey which looked into how supply chains reacted and remained resilient in 2020 highlighted that risk management, resilience and real-time insights are going to be key priorities for shipping agents, manufacturers and logistics enterprises of all levels.

The survey, which focused on the role of real-time intelligence in supply chains, highlighted the role of innovation and agility in ensuring that businesses can quickly respond to port disruptions and other unexpected circumstances, as well as build towards a sustainable future.

According to the survey, 83 per cent of the supply chain businesses surveyed said they were more aware of potential supply chain risks than a year ago, and the same percentage believe they need to be more agile to adapt and cope with changes as they arrive.

Whilst many of the disruptions found in 2020 caught a lot of businesses by surprise, the need to be prepared and ready to adapt to significant disruptions has always been critical in logistics and shipping.

According to McKinsey, supply chain disruptions that last over a month happen every 3.7 years on average, which has highlighted the importance of resilience, business continuity and contingency.

Taking advantage of technology, data and improved asset tracking has become more desired, with 90 per cent of supply chains planning to use some form of data insight system to improve their decision making with regards to shipping and manufacturing. This can include assessments of the overall supply chain, tracking shipments and condition monitoring.