Report Outlines State of the Supply Chain
The pandemic brought with it stress on supply chains that continue to impact the industry. To provide insight into the current state of events, Blue Ridge and SmartBrief presented the 5th annual "State of the Supply Chain Industry Report." It highlights a focus on customer demand, supplier challenges, the growing adoption of technology, and more.
The online report shows demand fluctuations and market volatility. For example, it reads:
"In 2023, the industry achieved a 9 percent year-over-year sales growth, displaying resilience despite a decline from 13 percent in 2022. However, managing disruptions from macroeconomic trends and cost pressures remains a significant challenge, as existing systems fall short of addressing these effectively. Inventory management has shifted, with 62 percent of businesses now maintaining over one month’s inventory, though higher days-on-hand (DOH) doesn’t guarantee improved product availability."
Click here to access and review this full report.