After almost three years of global supply chain issues, many supply chain managers still have a bleak outlook going into 2023 with most believing the supply chain will not be back to normal until at least 2024.
One reason there is hope that supply chains will stabilize after this year is due to the introduction of programs like Freight Logistics Optimization Works or FLOW. FLOW is a joint venture between the United States Department of Transportation and the freight industry aiming to improve key freight information exchange between parts of the goods movement supply chain. Simply put, FLOW was designed to support businesses throughout the supply chain and improve accuracy of information from end-to-end. This should improve the movement of goods from ships to shelves and cut costs for American consumers.
One of the top priorities in our country currently is finding a way to stabilize the 2023 supply chain, which can clearly be seen with the effort by the federal government through funding grants and programs for the transportation industry. Although we might not see the immediate effects in 2023 many are hoping for things to turn around in the coming years.