CSCMP’s 32nd Annual State of Logistics Report® Released
The Council of Supply Chain Management Professionals’ (CSCMP) 32nd Annual State of Logistics Report® was released June 24th, presented by Penske Logistics and authored by Kearney. The report titled, Change of Plans, finds supply chains continuing to adapt from the pandemic, planning and readjusting to meet the current and future demands.
The report captures industry trends and key insights from ever-evolving supply chains around the world stating, “The pandemic caused global supply chains to suddenly stop. Then to start again, haltingly. Then to reroute, sometimes stopping again, sometimes facing capacity shortages or price increases, often styled by unexpected bottlenecks.” Logisticians worked valiantly to respond to crises and devise creative new solutions to unexpected challenges.
Key findings from the 2021 report:
– The K-shaped recovery of 2021 reflects changed consumer habits. Hospitality, restaurants and airlines struggled. Grocery retail, home improvement and e-commerce prospered.
– E-commerce purchases (some of which was picked up in-store) grew by 33% to $792 billion, representing 14% of all retail sales.
– The U.S. economy is now expected to grow 7.7% this year with advancements related to increased vaccinations and a return to normal.
– Moving forward, supply chains must continue to provide goods and services to the American public while dealing with tight capacity and volatile rising rates; H1 2021 has the highest rates the market has ever seen.
For more takeaways visit CSCMP’s 32nd Annual State of Logistics Report® and access the full report.