Would 2024 instability bring down logistics & supply chain?

Original Content

2023 was an interesting year for consumers and companies. The consumer market exhibited promising signs at the end of 2023, and this trend is anticipated to continue. At the same time 2024 brings more uncertainty and geopolitical instability. We spoke to Trevor Stamp, General Manager – Contract Logistics, GAC Dubai and Adrian Peiris, Business Manager – Contract Logistics, GAC Qatar about their expectations for the year and what to be careful of.

‘The past year was somewhat sluggish. Logistics companies have spent the past 12 months looking for ways to optimise costs until the markets exhibited positive trends again,’ tells us Adrian. When addressing concerns for supply chain managers, Adrian emphasises the impact of political instability on shipping routes and efficiency.

He underlines the importance of supply chain resilience, urging businesses to diversify suppliers, develop contingency plans, and optimise demand forecasting. Trevor reinforces the significance of relationships in building resilience and advises regular assessment of partners’ performance, financial stability, and ethical practices.

Always uncertain

“The future is always uncertain, but it is crucial to be prepared for any eventuality. Collaboration and transparency between partners can go a long way to promoting a more interconnected and complex supply chain landscape by sharing data and information, building trust and improving end-to-end supply chain coordination,’ Trevor continues.

To enhance supply chain protection and efficiency, it is suggested businesses assess inventory levels, create contingency plans, and evaluate alternate suppliers and routes. Leveraging advanced solutions for increased visibility and standardising operations are key steps towards overall efficiency.

The continued revolution of logistics through automation is expected, emphasising its role in improving efficiency and reducing human errors. Sustainability remains a focal point, with businesses investing in eco-friendly initiatives.

Meanwhile, local governments are digitalizing trade transactions and enhancing trade infrastructure. ✷