A Look at Supply Chain and Logistics in 2021
2021 was not the easiest year to say the least, with pandemic-related disruptions creating havoc on global supply chains. Businesses were greeted with challenges left and right, ranging from sporadic shutdowns to port congestion incidents and labor shortages that left many hanging by a thread. That being said, there were also plenty of lessons to be learned throughout the year, some of which were covered in a recent article by our media partner, Parcel Monitor.
How exactly did the supply chain crunch affect the world of freight and logistics in 2021? Let’s take a look!
- Air Freight Market Growth Rate Would Soon Surpass That of Sea Freight
- Based on findings from Transport Intelligence, air freight would grow by 14.9% in real terms, 7.3% more than sea freight.
Growth of E-commerce Stabilized Worldwide
- The return of physical retail contributed to the overall slump during peak season last year in several countries, including the United States.
- There Was an Improvement in Transit Times in Most Regions
- In Singapore, for instance, the average transit time decreased from 1.5 days in 2020 to 1.3 days in 2021.
Interested to find out more? Check out the full article at Parcel Monitor!