In the wake of the coronavirus pandemic and rising overseas production costs, many American companies are thinking about returning at least some manufacturing to the United States. But XStream Trucking Inc. has wasted no time in doing just that.
Benchmark your freight performance by leveraging the U.S. Bank Freight Payment Index™. Published quarterly, the index showcases current freight shipping volumes and expenditures on both national and regional levels with commentary by Bob Costello, Chief Economist and Senior Vice President for the American Trucking Associations (ATA).
The Q2 2020 data revealed that both the shipment and spend index contracted from Q1 2020. In the midst of the COVID-19 pandemic, the U.S. Bank National Shipment Index dropped 7.6% and the spend index was down 13.7%. Despite the notable declines, the data also highlights some improved signs of economic and trucking activity and increases in both manufacturing and non-manufacturing sectors.
The COVID-19 pandemic has tested the resiliency of supply chains all around the world. In the groceries segment, for example, this unprecedented event saw consumers hoarding food and other goods, creating gaps in their flow from suppliers to retailers. Many supply chains lagged because they were unable to respond rapidly to unusual events.
While COVID-19 may have been unusual, supply-chain disruptions are anything but. Natural disasters, social unrest, and heavy weather all regularly inflict headaches on supply-chain managers. A 2018 report from the Business Continuity Institute showed that 56% of companies experienced a supply-chain disruption in the prior year, and that 60% dealt with between five and 10 disruptions during the prior two years. During the current crisis, 75% of manufacturing companies that source from China experienced supply-chain hiccups, according to the Institute for Supply Management.
Supply chains that under-performed during COVID-19 — and there were many — need to be rebuilt with more resiliency going forward. What lessons can we learn from the supply-chain disruptions caused by the COVID-19 pandemic?
Tuesday, May 19, 2020 12:00 to Wednesday, August 19, 2020 12:00
ON DEMAND WEBINAR
Three Actions You Can Take Today to Prepare for Tomorrow
Disruption occurs with no warning. Your supply chain's business network must be prepared to react seamlessly to disruption with minimal impact to your business. Join St. Gobain and IBM to learn three key actions your organization can take today to prepare for tomorrow's business network challenges. Explore how cloud, AI and process automation provide business value with real-world use cases.
You will learn about:
Modernizing to the cloud
Digitizing and automating manual processes
Infusing analytics into your Network
Jeannine Calandra, Senior Sterling Offering Manager, IBM Corporation
Chase Shelby, EDI Admin, Saint-Gobain Abrasives North America
Bob Bowman, Editor-in-Chief, SupplyChainBrain
Tuesday, June 23, 2020 12:00 to Wednesday, September 23, 2020 12:00
If COVID-19 has you thinking, “if only we’d been better prepared”, you’re not alone. The Coronavirus has shown us that, similar to humans, companies are susceptible to crises from weather catastrophes to global pandemics. It takes more than just luck to survive these interruptions. There are steps you can take now to inoculate your supply chain ahead of the next global disruption.
Join industry insiders George Fowler, Group VP at Spinnaker Management Group and David Barton, GM of North America at ToolsGroup as they share learnings from supply chain responses around the globe and actionable tips you can take now to build resilience in the face of disruptions.
This one-hour session will cover tips on:
Having the right planning tools and capabilities.
Implementing a resilient network.
Monitoring and adjusting business KPIs.
Establishing knowledge retention and change management.
Implementing effective scenario planning.
Don’t be caught unprepared when the next disruption occurs. Register now to start building your supply chain resilience game plan.
David Barton, GM of North America, ToolsGroup
George Fowler, Group VP, Spinnaker Management Group