From Brexit to FLSA to drones, 2016 was a major year in the supply chain industry. Here are some of the biggest, most important, and popular stories from last year:
A popular article no matter where or when it is posted, the top universities for a supply chain education is a huge topic of interest for the next generation of supply chain leaders.
A recent survey discovered that a mere 2% of supply chain professionals are under the age of 30. To shine a light on some of the great work that generation of supply chain professionals are doing, the Institute of Supply Management and ThomasNet teamed up to recognize 30 Leaders Under 30 who are making a difference in their companies and on the industry.
The United Kingdom’s decision to leave the European Union, referred to as ‘Brexit,’ came as a shocking turn of events that left people wondering what the short and long-term economic impact would be. Brexit resulted in a completely redrawn trade map that has left countries in Europe and elsewhere exploring how to build and rebuild their distribution channels with England.
Get the low-down on the secrets retailers and manufacturers need to know about inventory optimization.
For much of the year companies were making plans for the implementation of a new overtime standard announced in August of 2015, however a federal judge issued a temporary restraining order preventing the regulation from going into effect on December 1st. This decision effectively killed the new standard because with the upcoming change in administrations it would be left behind.
Out-of-stock issues are a big deal for many consumer goods manufacturers, and Coca-Cola is no different. In an effort to combat the difficulty in replenishing consumers with fresh stock, Coke invested in a new start-up that helps manage and transport their stock. The Uber business model had already extended to package and parcel delivery but now it’s making its way to the warehouse.
Brexit wasn’t the only big political event that is expected to have far-reaching impacts on the global supply chain. In November, the United States presidential election was won by Donald Trump who, like any new president, has his own set of policy decisions that will have an impact on how business is conducted.
In 2012, Jeff Bezos and Amazon purchased the warehouse automation firm Kiva. This has had many impacts, including keeping Amazon warehouses as the marvel of the industry, but now several startup firms are beginning to take hold in the market and allow other companies to begin to catch up.
Of course, if you thought Amazon was losing their edge in the industry, then you might not have read about Amazon’s pioneering drone delivery system which debuted in England this year. Though it may be years before this becomes the standard, the groundwork has been laid for the next big thing.
Earlier this year, Hanjin Shipping Co., the eighth largest cargo container carrier in the world, filed for bankruptcy. This stranded nearly 80 ships with 500,000 containers offshore. The biggest near term impacts of this development were supply chain interruption, the exacerbation of profit margin pressures and a large macroeconomic effect which jeopardized Q3 GDP growth.
As you can see, 2016 was a busy year and 2017 should continue that trend. Courtesy of Forbes, here are some supply chain trends to follow in 2017 and five predictions for the year to come.
Keep reading enVista’s blog to see if those predictions come true and for the biggest news stories of 2017!