LOMBARD, ILL., June 23, 2020 – The 31st annual State of Logistics Report will be introduced virtually this morning by the Council of Supply Chain Management Professionals (CSCMP). Researched and prepared by global consulting firm Kearney and presented by Penske Logistics, the publication's 2020 theme is Resilience Tested.
Across three-plus decades, the report has offered a snapshot of the American economy through the lens of the logistics sector in the overall supply chain. It is a rigorous compilation of leading logistics intelligence from around the world, shines a spotlight on industry trends, and offers key insights on the ever-evolving industry supply chains.
Currently, GDP forecasts for 2020 and 2021 are being revised downward as supply chains are navigating unprecedented waters in the United States and around the world.
Before the COVID-19 pandemic struck, supply chains were lauded for their ultra-efficient, single-source and just-in-time capabilities. Now, the report notes that the logistics field will need to construct entirely new levels of supply chain resilience.
Companies that manufacture goods and services will begin to further value resilience in new ways and it will transform the way companies think about supply chains.
Rick Blasgen, president and chief executive officer of CSCMP: "2019 was a strong year for logistics activity, and the numbers we saw at the beginning of 2020 seemed to be our way of welcoming the new decade. To say that everything changed is an understatement. Supply chain management professionals deal with change daily, and many in our industry have led efforts in adapting, innovating, and managing through unprecedented disruption while simultaneously creating new operating models. This report provides both a historical snapshot, and also a portal into what you need be ready for in the future. Adapt, improvise, overcome!"
"It is abundantly clear logistics have a driving role in assuring resilient supply chains," said Michael Zimmerman, partner with Kearney and co-author of the 2020 report. "Logistics practitioners will need to become even more agile as they navigate recovery in the second half of 2020 and into 2021."
"With the 'reopening' of American businesses, many supply chains have become off-balance," stated Marc Althen, Penske Logistics president. "This is an important time to reevaluate your supply chain, from distribution points to modes of transportation, and the State of Logistics Report provides the level of insight necessary to make these types of critical decisions."
Since 1963, the Council of Supply Chain Management Professionals (CSCMP) has been the preeminent worldwide professional association dedicated to the advancement and dissemination of research and knowledge on supply chain management. With CSCMP members located around the world, representing nearly all industry sectors, government, and academia, CSCMP members receive unparalleled networking opportunities, cutting-edge research, and online and on-site professional educational opportunities. To learn more, visit cscmp.org and find CSCMP on social media: Twitter, Facebook, LinkedIn, CSCMPtv, and Instagram.
As a global consulting partnership in more than 40 countries, our people make us who we are. We're individuals who take as much joy from those we work with as the work itself. Driven to be the difference with our clients, our communities, and in society, between a big idea and making it happen. For more information, visit www.kearney.com.
Penske Logistics is a Penske Transportation Solutions company with operations in North America, South America, Europe and Asia. Penske Logistics provides supply chain management and logistics services to leading companies around the world. Penske Logistics delivers value through its design, planning and execution in transportation, warehousing and freight management. Visit www.penskelogistics.com to learn more.