The summer of 2022 kicked off with the release of the “33rd Annual State of Logistics Report,” which was produced for the Council of Supply Chain Management Professionals (CSCMP) by global consulting firm Kearney and presented by Penske Logistics. CSCMP’s annual State of Logistics Report is endorsed by the professional supply chain community as a well-researched and thoroughly examined study of the many economies which build our global supply chain.
Tasked with summarizing the twists and hairpin turns of the past year, the report authors came up with a fitting title: “Out of Sync.” As the report shows, the supply of people and assets needed to store and transport goods in 2021 was unable to keep up with surging demand across the entire global supply chain. As a result, supply chains struggled to work in a coordinated fashion. We were all out of sync.
Will we be able to achieve a more balanced supply chain in the foreseeable future? We continue to operate in a highly volatile and unfamiliar business environment. Global supply chain leaders and practitioners now face unresolved questions about true consumer demand. It’s difficult to predict item-level demand and the preferred purchase point as inflation drives up costs while, at the same time, companies offer deep discounts to increase retail sales. We’re using loss-leader items sold at discounted prices to draw customers into the store, and then we’re trying to persuade them to buy the overstocked items procured last year during the COVID-19 at-home environment which no longer serve current consumer needs.
How do supply chain professionals address and meet the demands of this environment? They need intelligence. And that’s where CSCMP can help. CSCMP remains steadfast in its mission to provide supply chain professionals access to all our research, learnings, and best practices. We encourage you to take full advantage of these resources as the landscape continues to shift and evolve. The “State of Logistics Report,” for example, is complimentary for all CSCMP members and can be purchased by nonmembers. I strongly encourage industry professionals to get a copy of the report today at cscmp.org for a better understanding of our current climate.
The report can help guide companies as they form their supply chain outlook and conduct planning activities. Its key takeaways will challenge readers to rethink their supply chains, partnerships, and direction while continuing to develop new responses and initiatives in response to the shifts we are seeing in the marketplace.
In addition to top supply chain content and research, CSCMP also provides premier supply chain events, such as the upcoming EDGE Supply Chain Conference & Exhibition, which will take place September 18–21 in Nashville, Tennessee. The EDGE conference is the most comprehensive supply chain intelligence–gathering event of 2022. The conference will deliver a deeper understanding of the concepts and tools you will need to succeed. It also provides an opportunity to participate in relevant learning programs and networking activities. You will walk away prepared to enhance your personal and organizational development. I personally invite you to join me at EDGE for interactive discussions, including new findings and updates on the state of logistics with the prestigious State of Logistics Report panel.
Let’s collaborate and develop the intelligence and competitive approaches you need to meet today’s immediate challenges and discover tomorrow’s supply chain solutions. I look forward to seeing you at supply chain’s premier event this September in Nashville, Tennessee.