The coronavirus crisis has caused a major disruption to global supply chains and to the Transport and Logistics sector. The sector is recovering, but we are far from business as usual.
Full Recovery May Take A Long Time
Manufacturing activity and customer confidence have bounced back following the dramatic hit they took earlier in 2020. However, the European Central Bank is forecasting an 8%-12% plunge in GDP of Eurozone economies for 2020,1 and more than 60% of global supply chain and manufacturing executives believe manufacturing will take at least six months to fully recover from the effects of the coronavirus crisis.
New Procedures Are Impacting Efficiency
Many companies introduced new procedures to ensure employee and customer safety and to comply with regulations. These changes are essential, but they are impacting the speed at which front-line employees can operate.
Some Bottlenecks Remain In The Freight Network
Restrictions on the operations of transport companies are easing, but supply chains continue to be impacted by the limited capacity of air cargo and by the higher incidence of delays in road freight.
Furthermore, the demand for last-mile delivery has spiked as a result of customers shopping online, with some parcel companies delivering twice the typical volume of parcels for this time of the year.
Customers Are Demanding Transparency
As delivery times are impacted, shippers and consignees are asking for transparency on their shipments and reaching out to Transport and Logistics companies requesting information on their shipments.
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