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COVID-19 could spark revolution in supply chain technology and collaboration

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The COVID-19 pandemic could lead to greater collaboration and technological innovation across the supply chain, according to the results of a study from Ocean Insights.

Almost half of shipping and freight professionals (42%) will change their supply chain strategies and 67% see investment in technology as way of fundamentally changing their operations post-pandemic.

The results suggests there will be an industry-wide investment in technology and search for new collaborative solutions throughout the supply chain.

“Global supply chains and shipping as we know them will be different from how they worked for decades,” Ocean Insights said.

“However, sharing information and understanding best practices will enable the industry to come together and combat this as a whole. If there was ever a time for collective efforts, it is now.”

Ocean Insight’s study went further, suggesting that more online and remote technology was needed to make the supply chain “more flexible” and able to “change based on real-time events”.

Additionally, participants also called for better manpower management systems, the development of the greater route and mode options for ocean and hinterland transport and better forecast predictions.

They also claimed enhanced IT capabilities and implementing process automation and electronic bills of lading would increase efficiencies and increase transparency.

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