New Freedom, PA. – February 8, 2024 – Nexterus, a world-class supply chain management and third-party logistics (3PL) services provider, recently emceed a panel of supply chain executives discussing "Navigating the complexities of Global Supply Chains" at The Baltimore World Trade Center Institute. The host, Ryan Polakoff, President of Nexterus, asked questions about the participants' supply chain playbooks for 2024, volatility in the freight market, supply chain moving to the boardroom, skills needed for the next generation of supply chain leaders, cybersecurity, and planning for the unforeseeable.
The Supply Chain Panelists included:
Colin Clark, Chief Marketing Officer, Dunlop Protective Footwear
Gaurav Ajwani, President & CEO, C-Care LLC
Meghan Efland, Director of Supply Chain, Paul Reed Smith Guitars
(Host) Ryan Polakoff, President, Nexterus
"Discussions from the panelists were very informative, ranging from how they face supply chain disruptions to what these executives see in their supply chain crystal ball,” says Ryan Polakoff, President of Nexterus. “We appreciate their valuable insights into what is happening in their supply chains.”
A summary of key points from the discussion follows, with more details on our blog:
• Supply Chain Playbooks – When COVID hit, the panelists faced different obstacles:
o Dunlop – During COVID, people couldn’t do anything but go outside, so their business grew.
o C-Care – Many challenges erupted during COVID because people weren’t traveling and didn’t need skincare or haircare.
o PRS – Guitars are a luxury product, but since people were at home, many chose to learn to play the guitar.
Lesson learned: Supply chain disruptions will continue to happen. Businesses must be prepared by performing a "what-if" analysis of their supply chain network. From the analysis, create a plan to overcome these challenges.
• Supply chain volatility and mitigating transportation costs:
o Dunlop – Partnered with Nexterus to gain a holistic view across its supply chain, including transportation. Nexterus helped the company evolve how to ship products and service customers.
o C-Care – Partnered with Nexterus to optimize transportation, get predictive analytics around transportation, and consolidate shipments to improve efficiencies and lower costs.
o PRS – Nexterus will help them address their complex freight model, which includes parcel, LTL, and TL.
Lesson Learned: Work with an experienced third-party logistics partner like Nexterus, with expertise in freight management, risk management, and network optimization, to create strategies that mitigate risk, improve efficiencies, and grow profits.
• Planning for the unforeseeable:
o Dunlop – Localize suppliers to combat supply chain issues.
o C-Care – Get multiple sources of tiered suppliers.
o PRS – Strategically added extra safety stock.
Lesson Learned: Combine network optimization with what-if scenario planning to create an operating plan that answers all your supply chain questions and mitigates risk.
"When discussing how the supply chain has moved to the boardroom, all the panelists believe that supply chain is taking center stage in a business," says Polakoff. "Before the pandemic, supply chain was the best industry that no one's ever heard of – now that is not the case anymore."
About Nexterus
Nexterus solves urgent and complex supply chain issues, applying expertise and technology to manage and optimize global supply chains. As America’s oldest private, non-asset-based, third-party logistics (3PL) company, Nexterus helps small and medium-sized companies better compete through the power of their supply chains. With best-in-class strategies and services, Nexterus gives clients the freedom to build their businesses without being distracted by complex supply chain challenges and tedious tasks, allowing these companies to improve productivity, efficiencies, and customer service. Please find us at nexterus.com (https://www.nexterus.com).
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