Nazery Khalid fleshes out some of the major changes in supply chain management

In a world in constant flux, the only thing constant, as the cliché goes, is change. Along supply chains, rapid and – at times seismic – changes are constantly taking place, shaping the business and operational landscape, posing challenges to players along the chains, demanding quick responses and even offering opportunities for the attentive ones.

In today’s fast-paced world, product shippers increasingly demand efficiency from the transportation industry. They expect features such as better tracking of their shipment, online ordering facilities, timely and predictable delivery, and more transparent invoicing and billing information, among many others.

Companies are increasingly obsessed with delivering goods and services to their customers as quickly and inexpensively as possible. They persistently invest in resources and undertake initiatives to achieve greater speed and cost-effectiveness – the ultimate objectives of supply chain management. They spend much effort and resources investing in state-of-the-art technologies and hire top-notch talents to boost their supply chain performance.

Nazery Khalid does some crystal gazing to project the direction of the shipping industry in 2013

Shipping is the faithful servant of global trade and a fulcrum of economic growth, facilitating an estimated 90% of global trade volume. Being a derived-demand service, the demand for shipping services depends on the demand for the cargoes they carry.

As such, the shipping industry is influenced by factors such as the economy, trade, consumption, production, financing and technology that drive the demand and supply of manufactured goods and raw materials.

As world trade grows and the role of ports as key facilitator of trade increases in complexity and prominence, securing them from various threats they face has become a matter of tremendous importance.

In today’s globalised, liberalised economy, with increasing interdependence among nations, it is crucial to be on top of the trends and changes affecting the logistics industry and supply chain management.