The year 2012 might be known as the Year of the Dragon, but it could also be called the Year of the Reset. As the economic reset that started a few years ago continues, the lingering impact of the U.S. recession, global economic uncertainties and additional pressures on businesses’ bottom lines will impact how we do business in the coming year. Today’s challenging economic climate is driving us all to focus on two other major areas of change:
- 1. Resetting business strategy: The global economic conditions we are all operating in today are drastically different than 10 years ago. But are your company’s business strategies drastically different than the ones you had 10 years ago? They should be. It’s more than just a question of continued business success — it’s a question of business survival.Whether you are a shipping line, a port, a terminal operator or a 3PL, organizations are focusing on strategies that will improve their competitive edge, flexibility and business success.Slow-steaming, leaner inventory management and four-corner distribution strategies are just a few ways the transportation industry is adjusting. We are also seeing shifts in trade patterns and emerging markets, as some companies are bringing their manufacturing back to the U.S. and more U.S. agriculture products are exported.
- Resetting strategies for transportation funding: To reach the Obama administration’s goal of doubling exports, the U.S. also needs a funding plan and coordinated freight strategy for our highway and rail infrastructure to ensure our nation’s transportation system has the efficiency and capacity to handle that cargo growth. With limited funding available at the local, state and federal levels, we need to focus planning and funding at the national level to make freight mobility a priority.