Insights & Takeaways from Manifest 2024
Last week, industry leaders converged in Las Vegas for the highly anticipated Manifest event. Discussion delved into the ever-evolving landscape of supply chain and logistics. From navigating global turmoil to redefining operational excellence, the event offered a glimpse into the strategies and innovations shaping the future of the industry.
Motivational had the honor of attending this event and we are pleased to share some of our key takeaways here.
Navigating Disruption
Disruptions in the supply chain emerge often and unexpectedly, akin to playing “whack-a-mole,” as Peter Bolstorff, EVP, Innovation & Business Intelligence for The Association for Supply Chain Management put it plainly. The concept of resilience was a central theme throughout the conference, with a focus on the distinction between operational resilience and strategic resilience. While operational resilience involves dealing with challenges as they arise, strategic resilience entails proactive preparation and applying learnings from past experiences to create and maintain a stronger playbook for resilience.
A good recommendation made in regard to navigating disruption is to extend visibility. Ask yourself: what is your biggest pain point? Then ask yourself how you can extend visibility to that area.
Adapting to Change
The pre-COVID era favored just-in-time procurement strategies. However, the pandemic prompted a shift, with procurement times extending significantly. One example of a solution to this is bringing more of your operations stateside. This year will be particularly interesting in this regard as our tariff situations may change depending on how the upcoming election goes. Some companies are proactively adjusting their operations to move certain tasks within their manufacturing process here to the US.
We at Motivational have been happy to help in this arena by providing value-added services such as reflashing, refurbing, and light assembly for products once they reach our facilities from overseas. This has helped our customers save money, shorten delivery times, and improve their customers’ experience.
Harnessing Automation and Technology
There was solid agreement among the speakers that while automation and technology have witnessed remarkable advancements, it is crucial to not overlook the importance of the human element involved. People remain at the core of supply chain operations, with technology serving as a tool to enhance their productivity and leverage their expertise. The integration of AI and machine learning presents opportunities for significant productivity gains with humans playing a vital role in overseeing and optimizing these technologies.
While AI holds immense potential, the common sentiment is that its efficacy is contingent upon high-quality data and effective governance mechanisms. Panelists gave examples of how they’ve used AI tools such as voice recognition, smart vision, and co-pilot to boost productivity around customer operations and product development.
When asked to make a prediction about the future of the supply chain regarding these technological advancements, Dave Evans, CEO & Co-Founder of Fictiv, said he believes we’ll see more creative work in supply chain, and less mundane, rote tasks.
Meeting Customer Expectations through Innovation
Continuously improving supply chain and logistics processes is essential to meet and exceed customer expectations. Industry experts highlighted the importance of going where the customers are and for 3PLs, the importance of understanding your customer’s customer.
A big part of this is taking advantage of value-added services offered by some 3PLs. Services like packaging, kit assembly, software updates, reprogramming, testing, and more, can improve the overall shopping experience. These extra touches of value foster loyalty and help elevate your overall brand. Then of course is the expectation that customers have around seamless and timely delivery. People want their products easily and on time. Collaborating with a reliable and experienced fulfillment provider is pivotal in achieving these goals.
Predictions and Trends
Looking ahead, predictions point to increased investments in AI-driven optimization and a rise in direct-to-consumer (D2C) fulfillment models. Sustainability is also expected to be a growing priority throughout the supply chain. Many industry leaders stressed the importance of staying true to your company values and culture. This was related to the ongoing conversation around the importance of the people at the core of your business. As the industry continues to evolve, staying adaptable and embracing tech while staying true to your core values will be key to driving success in the years to come.
Were you at Manifest? What key takeaways did you leave with? What do you think of the topics and predictions we shared here? Let us know by emailing us at info@mfals.com or contacting us here!