Prior to COVID-19, the global supply chain model was one of just-in-time delivery, optimized for efficiency and cost savings—what the industry calls a “lean supply chain.” Since then, port delays, inventory shortages, materials and resources shortfalls, and halts in manufacturing have seen unprecedented disruption at every node of the global supply chain. Consumers have been forced to alter expectations for immediate gratification and the relationship between buyers, sellers and distributors has become strained, bordering on contentious consider companies like Sony and Peloton, both recently at the forefront of public ire. The publicized frustrations prove legacy supply chain systems are inefficient at best and a major cost center at worst.
The pandemic accelerated a rise in new tech companies entering the market with modern solutions to improve processes and practices from depot to delivery and enhance customer satisfaction while saving companies time, money and stress. Despite COVID-19 slowdowns, the global supply chain management market is on an upward trajectory, and is projected to reach $37.41 billion by 2027, growing at a CAGR of 11.2% from 2020 to 2027. Fueling that growth is the stark realization that supply chain managers and manufacturers can no longer rely on past methods—advanced technology is the only way to long-term profitability and growth.
Whether your company is new to the industry or a supply chain software veteran, hiring an integrated marketing and communications team equipped with knowledge and resources to support your growth isn’t just important, it’s business-critical.
