Shipping costs are forcing European retailers to place Christmas orders early

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This article is brought to you by Retail Technology Review: Shipping costs are forcing European retailers to place Christmas orders early.

By Tom Broome, VP of Customer Success EMEA & APAC, project44.

In a time where geopolitical conflicts are becoming more prevalent, we must be prepared for never-normal supply chains to best mitigate the impact of disruption and stabilise the price and availability of goods.

In 2022, the Middle East exported 15.4 million barrels of oil daily. As the conflict continues to escalate, there have been major disruptions to the global oil supply. This has caused volatility in crude oil pricing, but overall prices are anticipated to climb up to $80/barrel, which is nearly $10 higher than the recent low of $68/barrel.

These crises underscore the importance of visibility, agility, flexibility, and resilience, all of which are powered by advanced supply chain technology. Simple location tracking of vessels is no longer sufficient; today, you need to be able to visualise which shipments and orders on which vessels are impacted by disruptions, plan a safe alternative route, and view and transmit an updated ETA to customers while keeping costs as low as possible.

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