This Week on Supply Chain Now- July 11th-17th

In today’s complex supply chain landscape, effective transportation management is less an ambition than a necessity. As the logistics industry attempts to keep pace with rapid technological advancements, a dynamic regulatory environment, and ever-shifting market dynamics, the field of transportation management is working to keep pace with the constantly changing demands of a complex transportation sector. In hopes of better understanding what transportation management means in 2024, Supply Chain Now is partnering with innovative TMS provider RateLinx on an interesting research project: the TM Tech Survey 2024, which focuses on transportation management technology. But before we get there, let’s talk about why shippers in record numbers are demanding effective transportation management solutions. Three Reasons Shippers Require Effective Transportation Management According to an analysis from Gartner, the global TMS industry is expected to reach $2.11B by the end of 2024, a 60% increase from the industry’s value in 2019. It’s clear that today’s shippers, operating in a world plagued by volatility and disruption, understand the value of transportation management. This section looks at three key reasons why today’s shippers require effective transportation management. 1: Enhanced Operational Efficiency In 2024, transportation technology is indispensable for optimizing logistics operations. Today’s leading transportation management…

In July, what is being called the “largest IT outage in history” grounded air cargo and travel and caused “substantial disruptions” to the networks of such supply chain giants as FedEx and UPS. While cybersecurity company CrowdStrike blamed the worldwide outage on a “software update” and not a cyberattack, the event illustrates the importance of taking measures to safeguard the supply chain systems we all rely on for the movement of goods and people. Cybersecurity is Paramount in Digital Supply Chain A Boston Consulting Group (BCG) report published in October 2023 said that “bad actors are using more sophisticated tools and techniques to exploit vulnerabilities in digital networks, and weak points can be difficult to detect. Companies with established cybersecurity capabilities are being compromised through less sophisticated third parties that are connected to their network.” Today’s Supply Chain Remains Vulnerable to Cyberattacks According to the Identity Theft Resource Center, the number of organizations targeted by supply chain cyberattacks skyrocketed by 2,600% between 2018 and 2023. Verizon’s 2024 Data Breach Investigations Report said there was a 68% year-over-year leap in the amount of “supply chain interconnection” involved in cyber breaches. Among high-profile cyberattacks affecting the supply chain: In December 2020, Forward…