Digital Edition

January 2 2023

Issue link:

Contents of this Issue


Page 20 of 131

Januar y 2, 2023 | Journal of Commerce 19 EXECUTIVE COMMENTARY 2023 ANNUAL REVIEW & OUTLOOK Shippers economies look like as interest rates continue to rise to combat persistent infl ation? Will consumers continue to spend, or will infl ation and a cooling economy dampen consumer spending? Retailers have witnessed year-over-year sales growth every month since May 2020, according to the US Census Bureau. That has certainly contributed to signifi cant growth in cargo volume, which exac- erbated supply chain challenges that existed before the pandemic. Con- tinued investments in supply chain resiliency are critical. Cargo volumes decreased in the fourth quarter due to lower demand and mitigation plans. If volumes drop further, this will create an opportunity to focus on addressing key challenges that continue to dis- rupt the supply chain. These e orts could include digitalizing the supply chain so stakeholders can provide better and more timely information National Retail Federation Matthew Shay President and CEO As we enter 2023, address- ing supply chain chal- lenges will remain a top priority for retailers, among other economic and political uncertainties worldwide. The big question is what the next disruption faced by retailers and consumers will be. There are many potential cul- prits. Will COVID-19 lockdowns in China remain an issue? Will rail labor and West Coast port labor agreements be resolved and ratifi ed? On the global macroeconomic front, what will the US and global of the commercially sensitive data routinely committed to bills of lad- ing, shipping notes, etc. Question two for 2023 is "how can we be assured that our data is safe, its ownership respected and that if its lost, hacked or abused, we will be told?" Finally, the aspirations of several shipping lines to become full-ser- vice logistics providers will also be achieved or advanced during 2023. But with increased responsibility for more of the supply chain comes the unavoidable accountability for service performance and cost control, especially when things go wrong. Given what has happened to shipping costs and service performance over the past three years, a third question shippers will be asking in 2023 is "what share of the risks and costs of disruption are wannabe door-to-door service providers really prepared to take on and be held to in order to win my business?" "Continued investments in supply chain resiliency are critical." Matthew Shay Delivering what your customers need. Delivering what your customers need. Delivering Port Houston connects you to the world. Our unique location and extensive sailing schedule give you a distinct advantage. Get your cargo to your customers faster by choosing Port Houston, with our industry-leading truck turn times, best-in-class yard management practices and skilled and dedicated workforce on your side.

Articles in this issue

Links on this page

Archives of this issue

view archives of Digital Edition - January 2 2023