Voice of Business: It’s Time to Take a New Look at Getting Goods to Market
/When all is running well, supply chains operate largely invisible to consumers.
Most of the time the massive choreographed dance of production, ships, ports, rail, trucks, planes, warehouses, couriers, border crossings, delivery systems, and 820,000 Canadians works relatively seamlessly, moving $1 trillion in goods. Your local business either already has the product you’re after or is able to get it to you in short order.
But all that changed in recent years as the words ‘supply chain’ entered our common lexicon as we talked with businesses, friends, and co-workers. We shared the common frustration of not being able to get the products we want when we want them.
Some of what led to these challenges has largely been resolved, like public health shutdowns and closed borders. Like many things, the pandemic accelerated issues the industry was already facing. Meanwhile, the world changed dramatically.
A report titled ‘A time of renewal for Canada’s supply chains’ from KPMG and the Ontario Chamber of Commerce delves into the challenges facing the industry and how it can get back to invisibly running in the background.
The report notes that current risks for governments and businesses include:
Chronic underinvestment in supply chain modernization
Continued risk-laden dependence on single suppliers
The need to innovate amid soaring goods and services costs
Evolving and ever-increasing consumer expectations
Ongoing labour shortages and skills gaps