This past year has been anything but standard for the logistics industry. Supply chains across the world have had to adjust to rapidly changing conditions, all while attempting to juggle both heightened demand and create room for a global vaccine.
If this has taught us anything, it is how to stay flexible and adjust when situations change. Here are some tips to keep you ready for whatever 2021 throws at the industry.
When capacity is limited and demand is high, relationships can go a long way towards determining whether or not your cargo ships out. While surcharges and higher rates play a large part of determining who goes first, relationships are vital for knowing about changes in the industry as soon as they happen.
TOC maintains good working relationships with carriers across the world. This means we know about adjustments in the industry as soon as possible, so we can inform our customers and suggest possible plans of action. These relationships give us the upper hand when it comes to strategizing, and the relationships of your organization can do the same.
Stay Up to Date
This is something you are probably already doing, but it’s important to stress as we begin 2021. As so many people, both in and out of the industry have grown fond of saying, “these are unprecedented times.” The sooner you can be informed of adjustments in the industry or market, the better.
This begins with anticipating the changes that the new administration may usher in, regularly reading market advisories, and following industry news sources.
Create Backup Plans
…for your backup plans. Just as with 2020, the new year will bring a wide range of shifts in supply chains and the logistics industry. While there is no way to anticipate the future, creating as many safety nets as possible can help alleviate at least some of this stress.
If you are having trouble preparing for 2021 or need help with your supply chain, reach out to us. Our team can help you feel confident that this year will be much better than the last.