State of Logistics Report Shows How Logisticians are Adapting to Permanent Supply Chain Volatility
The 2024 State of Logistics Report revealed that U.S. supply chains pressured by global economic volatility -- including inflation, climate change and geopolitical conflicts -- are enhancing their capabilities by investing in supply chain technologies to accelerate resilience, agility and flexibility to navigate current and future disruption.
Produced for the Council of Supply Chain Management Professionals (CSCMP) by Kearney and presented by Penske Logistics, the annual report offers a snapshot of the American economy via the lens of the logistics sector and its role in overall supply chains.
Andy Moses, senior vice president of sales and solutions for Penske Logistics stated: “Our customers, as well as the industry, continue to face significant challenges in maintaining both a consistent and cost-effective supply chain. Investing in technologies to help improve agility and resilience will better position organizations and the industry as a whole to seamlessly navigate future disruptions.”
The report found that uncertainty is now a near constant in the global economy, and that the smartest way to respond to steady times is to rekindle strategic projects and gather resources to improve resilience.
The global economy is expected to experience sluggish 2.5% growth across 2024, which would represent the slowest half-decade of output in 30 years. Demand has not yet fully recovered, with myriad forces at play, and new growth engines will need traction before the tide turns.
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Report highlights include:
Josh Brogan, Kearney partner and lead author for the State of Logistics Report: “Continued volatility drives our clients to rethink and rewire the logistics capabilities that drive their supply chains. Both shippers and carriers find that the people, processes and tools that move goods and information in global supply chains are often inadequate for their needs and require accelerated investment.”
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