US businesses are facing significant supply chain disruptions in 2024, with new data revealing that 15% of all shipments have been delayed this year.
The findings, published by global supply chain solutions provider Vinturas, highlight the ongoing impact of supply chain inefficiencies and external shocks on businesses as the holiday shopping season approaches.
According to the report, a study conducted in partnership with Censuswide surveyed over 400 global business leaders responsible for international logistics and shipping. More than two in five (41%) of US business leaders identified disruptions in the Panama Canal as a key factor behind these delays.
The Panama Canal, which has been severely affected by drought conditions, has become a focal point for global shipping slowdowns. Other major chokepoints, such as the Suez Canal and the English Channel, were also cited as contributing to shipment delays by 38% and 34% of respondents, respectively.
The research further underscores the significant toll that unexpected global events, including geopolitical conflicts, climate-related disruptions, and infrastructure failures, have had on international trade routes. A third (35%) of US business leaders noted that managing the stress of these external supply chain shocks has been their primary logistical challenge in 2024.
Despite the external factors, many US companies are also grappling with internal inefficiencies. The survey found that 97% of business leaders reported operational blind spots or inefficiencies in their supply chains over the past year. Nearly four in ten (37%) pointed to a lack of quality data as a major obstacle to making accurate logistics decisions, while another 34% cited poor integration between different parts of the supply chain. Additionally, 38% of business leaders said predicting demand and managing inventory remained an ongoing challenge.
24% of companies reported still relying on outdated, paper-based systems to manage their supply chain operations, and just 3% of business leaders indicated that their supply chains were free from inefficiencies or blind spots.
In response to these challenges, US businesses are planning to invest more in technology to enhance their supply chain operations. On average, companies intend to increase their investment in supply chain technology by 7.5% over the next year, with the aim of improving resilience and mitigating the impact of future disruptions.
Experts warn that businesses must address both internal and external factors to ensure supply chain stability, particularly as global tensions and climate-related risks continue to threaten global trade. The holiday shopping season, which sees heightened demand for goods, is expected to be a key period where supply chain issues may have a pronounced effect on delivery times and inventory availability.
