Logistics companies prioritizing AI and other advanced technology
According to Supply Chain Quarterly, Blue Yonder’s The New Normal of Logistics report company executives are focusing on advanced technology like Artificial Intelligence and Machine Learning to solve challenges facing their supply chains and warehouses. Issues like consumer convenience, labor shortages, and sustainability continue to be priorities for logistics companies and many are looking at using multiple tools to manage them including labor incentives and automation.
“Nearly 50% of respondents said they expect to implement or enhance their warehouse management systems (WMS) and cloud infrastructure in the next 12 months.”
The increase of cyber attacks on the supply chain and what you can do about them
The attack on the Colonial Pipeline is the most recent reminder of the need for supply chain cybersecurity. As the interconnectedness and continued digitization of global companies increase so do the potential vulnerabilities. Each company is as strong as the possible breach in a company they’re connected to. Companies do have options to help protect themselves from attack. Supply Chain Management Review suggests: ensuring each company has an incident response plan, backing up data, designating a Cyber Leader, better authentication practices, and implementing a culture of cybersecurity within the companies.
“Companies are accelerating their digital transformation to build greater visibility, agility and resilience into how they go to market and meet the needs of their customers. More critical data is being shared every day in far-reaching global supply chains. All companies today are connected.”
Developers face challenges as demand for warehouse space increases
According to an article by the Economist, developers are having trouble adjusting to the increasing demand for warehouse spaces as consumer demand for e-goods continues to rise. The pandemic saw a drastic shift in online shopping and that trend has not abated. As companies look to increase their inventory, the space to house it is also increasing in demand and developers are struggling to keep up.
“The pandemic e-commerce boom has fueled demand for warehouses. In 2020 firms in Europe leased 16% more new logistics space than the year before, according to Jll, a property consultancy. In America and Asia the rise was 21% and 32%, respectively.”