According to a recent survey of 1,154 small business owners in North America, 87% of small to medium-sized businesses (SMBs) have maintained, or spent more, on transportation, logistics, and expediting to overcome shortage. The study, “Logistics: Heads Up” is from Cargo, and Phase 5.
Results indicate that COVID is still causing supply chain instability and 44% of SMBs are using shipping and logistic services from a single vendor. 30% are open to new logistics partners, 62% are confident they have all the information they need to make the right decisions about their logistics and shipping, and 63% of owners seek advice from employees outside of purchasing staff.
The report includes advice as to how to minimize the supply chain woes, including: dual/tri-source all critical raw materials, components, and sub-assemblies, balance purchase order placements and order volumes between two or more competing suppliers, and develop a geo-diverse sourcing model and supply network.
Original Release: PR Newswire