Supply Chain Management Trends for 2022Posted by Suuchi on January 13th, 2023 Nearshoring & Dual Sourcing From a sourcing perspective, there are 3 main buckets of challenges that affected brands a great deal this past year:
Freight costs are fluctuating at a rapid rate, inflating prices, and damaging margins. Material prices are constantly rising and paired with increased shipping costs further ruing margins. Higher demand for production is limiting availability. Put this all together and it’s a mess. Brands are beginning to turn to other avenues for their sourcing needs. Nearshoring has been an effective strategy in helping brands to lower freight costs and receive their raw materials faster. 66.4% of Chinese exports are subject to US duty and tariffs. Finding sourcing options close to home mitigate those additional costs and allow. In a time where flexibility is key, brands are also turning to dual sourcing strategies to ensure they have a variety of options and aren’t victims of circumstance. Options like Suuchi’s Global Sourcing Network help to drive a reliable, consistent, efficient, and cost-competitive supplier network in the western hemisphere. Digital Transformation COVID-19 has flipped the world on its head. Remote work has become the new norm in most cases. Working out of spreadsheets and emails is a thing of the past. The need for a digitized supply chain is paramount in maneuvering through the challenges of today Cloud-based software tools can provide companies with more effective ways to optimize: Like it? Share it! |