Current trends in the supply chain industry

Current Trends in the Supply Chain Industry

The supply chain is one of the most important aspects of running a company. Many companies today have a lot of opportunity in this area of the business. There are several trends in the industry as a whole. Taking advantage of these trends is essential for companies interested in improving their supply chain.

Low Oil Prices

The low price of oil is one of the biggest economic stories of the year. Many companies have lower fuel expenses than last year. As a company, it is important to plan out expenses for several years in the future. The price of oil cannot be this low permanently. Companies need to plan their future finances based on an increased oil price.

Driver Shortage

There is also a large driver shortage in the trucking industry. This means that it may take longer to deliver freight based on the area of the country where your business needs it. Many trucking companies are trying to respond to this trend by allowing more incentives for drivers who sign up with them. As a company, it is important to plan for delays when hiring a trucking company. Companies with enough volume can hire a dedicated fleet to help with this issue.

Planning for the Future

Companies need to plan their supply chain strategy based on current and future trends. Although no one can predict the future, there are a lot of current trends in the industry that companies should plan for. Companies that fail to plan for these trends will have other issues down the road.