Investing in and implementing smart sourcing and manufacturing solutions is not a quick and complete fix for today’s drug and device shortages, but it can help.

Cosco still handled 60.06 million TEUs during the quarter, which was in line with the company’s performance during the same period in 2022.

Vendors that provide flexibility and the easiest connectivity options will be the ones that come out on top over the single-minded, rigid vendors.

Ultimately, mesh networks can handle fluctuations in supply and demand, optimize routes, and create transparency and accountability in the supply chain.

Companies are urgently evolving to new levels of technology and process maturity to address increasing challenges. But, what does supply chain resiliency look like and how do companies need to innovate to achieve it?

Ongoing disruption requires companies to make a fundamental shift in their supply chain strategy. What makes this transformation so difficult is that the scope of change required is extensive, involving many internal (and external) stakeholders, data and technology.  

Despite the rises in monthly volumes, the total for the first nine months of 2023 was 6,398,126 TEUs, an 18.6% decrease from the same period last year.

To facilitate early intervention, organizations should implement real-time data analytics, regular performance evaluations, and comprehensive tracking mechanisms to identify potential issues promptly.

The Thomson Reuters 2023 Corporate Global Trade Survey Report explores the challenges and trends facing global trade professionals in an environment of constant disruption and uncertainty.

Climate change is becoming very real, with real business consequences in property damage, production downtime, power outages and equipment failures. The good news: Cloud-based software is already delivering data standardization, shipment visibility, process optimization and collaborative visualization tools for order fulfillment that’s needed to address sustainability.