By Peter Lauge Just, Director, Account Management Partner at Kyndryl
Whether you’re buying clothes or a unique item like Danish licorice or Swiss chocolate, nearly every online purchase likely involves over 150 interactions from dozens of people in different countries and companies. While most items generally arrive within days, international shipments historically could take as long as 40 days.
The reasons for such delays? For one, even a simple parcel still involves a significant amount of paperwork and bureaucracy. For another, the basic principles of navigation haven’t changed much in decades and the shipping industry has largely lagged other industries in embracing technological innovations. That’s caused many organizations to miss the benefits of an end-to-end supply chain strategy that captures values.
Consider this: roughly 80% of all international goods are transported by sea today, according to the United Nations Conference on Trade and Development. What’s more, $14 trillion in goods are shipped annually. That’s why it’s important to leverage digitalization and IT services to drive efficiency from supply chain processes.