The 2022 State of Logistics Report found that U.S.-based supply chains are out of sync while adjusting to short-term changes and perhaps uncovering long-term solutions. The report is produced annually for the Council of Supply Chain Management Professionals (CSCMP) by the global consulting firm Kearney and presented by Penske Logistics. A key statistic that the report generates is the United States business logistics costs or USBLC. In 2021, USBLC was elevated by 22.4% to $1.85 trillion, representing 8% of 2021’s $23 trillion GDP.
Major report findings include:
- Business inventories dropped to near historic lows, but costs rose considerably. Inventory-carrying costs increased by 25.9% in 2021, and transportation costs jumped 21.7%.
- Efforts to increase multi-shoring will accelerate. Companies seek to have operations move closer to the U.S. to respond rapidly to fluctuating market demands.
- Last-mile delivery volume is trending upward. E-commerce sales grew 10% last year (to $871 billion), accounting for 14% of U.S. retail sales.
- Trucking freight continues to see opportunities. With road freight accounting for the largest segment of the U.S. supply chain spend, it expanded by 23.4% to a lofty $831 billion spend.
The scope and impact of disruptions continue to weigh heavily on the minds of logistics providers. What is notable for 2021, however, is that the logistics sector has begun to enable changes that should benefit manufacturers, retailers, and consumers.
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