The COVID-19 pandemic has brought a host of revolutions for the supply chains, no-doubt, with the logistics industry being the hardest hit. Which forced the logistic industry to accept difficult challenges and cope with them in a new and more difficult environment. Facing disruptions and unforeseen risks, logistics companies have had to calculate new ways to go about their business as the shooting happened.
1) Disruptions in Transportation: Mass number of transportation got major obstacles due to the restrictions on movement and lockdown measures. The airline’s capacity for air freight declined and cargo supplies encountered delays. But logistics companies have kept up with all the contingencies by making use of as well as creating alternative shipping means like sea and sea freight which moved closer to uninterrupted transition of import and export.
2) The Rise of E-commerce: Along with the implementation of lockdowns consumer behavior moved towards e-commerce. Online shopping experienced a tremendous growth. As a result of the explosions of e-commerce, logistics service providers had to adjust to and perfect their business models. This includes the shipping of the end customer (last-mile delivery) and warehousing.
3) Supply Chain Resilience: COVID-19 managed to prove the essence of forging stable supply chains. Business recognized the necessity to encourage additional suppliers, reduce the risk exposure in the system and develop their own risk management strategies that should protect them from any future disruptions.
4) Embracing Technology: The pandemic has also pushed the industries in the logistics field to obstinate the share of digital technology. From the internet of things through artificial intelligence on to block chain technologies companies utilize these tools in order to achieve more transparency, better inventory management, and to raise the overall efficiency.
In the aftermath of the COVID-19 crisis, the whole logistics profession in the supply chain industry shall never be the same. It has indeed forced businesses to run change and innovation, as well as the development of more tech-based easier living. It brought the instigation of the companies to adjust, invent and rethink the way they conduct business.