Sunday, September 25, 2022
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Supply Chain Breakdown Across the Globe

The holiday season of the year 2021, has been a visceral remainder that, the team of supply chain has been an important part of the team, which does the branding of the products. The customers might not be appreciating the countless and complicated steps, in which the products generally travel in the supply chain across the globe, but the customers are certainly noticing the delays in the shipping and empty shelves across the globe.

According to Erik Mumford, supply chain consultant, there is one thing that the people does understand or care about is the logistics has been a big part of the customer experience across the world, which is also been a large part of the marketing today.

As the delays in the supply of the products has been enraging the best marketing plans laid across the world, the marketers will now have to word ever more close with all their colleagues of supply chain so that, they can easily communicate the right messages regarding the right items at the right time, and the marketing messages for holidays are going to be starting earlier than they were in the previous years and the consumers are also going to be expecting higher degrees of the transparency.

According to a recent survey conducted by Oracle, around 91 percent of the global consumers are going to consider the supply chain in the purchase decisions, which is up from 45 percent before the year 2020.

According to the global analysis, only 6% of the companies across the globe has reported full visibility on their supply chain and around 69% of the companies does not have complete visibility on their supply chain. 38.8% small businesses in the United States, has experienced delays in the supply chain due to the novel corona virus pandemic, and the value of the global supply chain market is 15.85 billion dollars.

According to research, 12% of the global retailers has reported high supply chain breakdown due to covid-19. Between 2019 and 2020, the overall supply chain breakdown is increased by 14%. The supply chain breakdown can possibly cause around 62% loss in the global finances and around 43% small and medium scale businesses across the globe do not their inventory.