FourKites, one of the leading supply chain visibility platforms globally, recently released in its new survey that ocean freight stakeholders are under pressure in 2023 from geopolitical influences, changing economic conditions and labor challenges after a turbulent three years for global supply chains.
The survey polled more than 350 supply chain professionals to illuminate the most critical issues confronting the ocean shipping industry. The last few years of supply chain disruptions, including market volatility, COVID-19, global political conflict, material shortages, and extreme weather events, have prompted 73% of respondents to invest in supply chain visibility, with 46% planning to increase investment in 2023.
Additionally, the survey finding includes over 20% of respondents rely on manual track-and-trace processes to track their ocean freight, while 50% have no visibility into their ocean freight. Over half of the respondents were concerned about labor issues, high shipping costs, and customer service, with 35% found to be also concerned about port congestion, and 73% had visibility into their over-the-road shipping.
The survey results have been compiled in a report titled The Great Reset: Ocean Shipping in a Post-Pandemic World. The report contains an expert analysis of the current state of ocean shipping, forecasts for 2023, and strategies for shippers to fortify their supply chains to build future resilience.
About Fourkites, Inc.
FourKites, Inc. based in Chicago (Illinois), is the leading supply chain visibility platform worldwide, extending visibility beyond transportation into yards, warehouses, stores and more. The company tracks more than 3 million daily shipments across the road, rail, ocean, air, parcel, and last mile and reaches over 200 countries and territories. It combines real-time data and powerful machine learning to assist businesses in digitizing their end-to-end supply chains. Additionally, over 1200 world’s top brands, including 9 out of the top 10 CPG and 18 of the top 20 food and beverage companies, have been trusting FourKites as a platform to transform their business and create swifter, sustainable and more efficient supply chains.