2023 Sourcing Report
Stability is a word few would use to describe supply chains these past 18 months. In fact, “extreme” is more fitting, considering how overzealous consumer shopping was countered by out-of-control freight costs, shipping delays, port backlogs and retail out of stocks.
Fast forward to 2023, where transportation rates have come down 40 to 60 percent, consumer activity did a 180 against a sputtering economy, and retailers are sitting on unprecedented amounts of excess inventory. Shipping delays and port backlogs might be fading from memory, but a dockworker strike, among other headwinds, still adds to the uncertain landscape.
Companies aren’t built to thrive in such extreme booms and busts, and while helpful, planning and forecasting tools will only get them so far in these shifting sands. But knowledge creates resilience, and better-informed companies will be better prepared to react and pivot as necessary.
This 2023 State of the Industry Sourcing Report provides a global overview from all angles.
Download the report to discover:
- The current and pending legislation (domestic and abroad) that will impact sourcing and sustainability strategies this year.
- What’s happening with raw material prices and what they mean for textiles
- China’s waning long-time dominance in footwear and apparel and the return to U.S. production
- What executives at Macy’s, Tommy Bahama, RapidRatings and RSC predict for 2023.
- How retailers and brands have taken an “if you can’t beat ‘em join ‘em” approach to resale
- How global inflation is affecting countries from Turkey to India to Bangladesh
- The forecast for supply chain M&A in the months ahead
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