What is for certain is there is abundant uncertainty regarding the economic forecast for 2020. The growth rate of real GDP is expected to be less than 2019. According to a recent article examining the U.S. economy's future trends, one-third of economists surveyed in Q3-2019 forecast recession in 2020 with another 30% predicting recession well into 2021. Based on this information, it is safe to say we are in the midst of a slow-down that is likely to continue for the next 12-24 months.
Supply Chains are changing rapidly. Manufacturers and retailers are trying to find ways to respond to faster shipping demands while keeping inventories low. To keep pace, shippers and 3PLs must be nimble and need good data to drive sound decision making that ensures services levels and control costs.
Blockchain is a movement that has applications to many different industries from cryptocurrencies to financial transactions to the supply chains. So what elements of blockchain are important and how does this emerging trend help the supply chains be more efficient?
Several factors have contributed to increased demand for 3PL warehousing services in 2018. Providers of these services are overall experiencing double digit growth. Three events stand out as having the most significant impact: