CHICAGO, IL--(Marketwired - Jul 1, 2014) - The weather has cleared, and so has the backlog in the transportation supply chain. But shipping-related issues faced by U.S. manufacturers over the past winter could be a sign of future challenges on the horizon, according to a report issued today by BMO Harris Bank.
"The inclement weather over the past winter complicated transportation conditions across the country, resulting in delays and shortages in everything from food to fuel," said Ken Kramer, Senior Vice President, Mid-Corporate Transportation Group, BMO Harris Bank. "The good news is that the backlog has cleared; however, the disruptions experienced by manufacturers, including turbulence in shipping prices and availability, may be a theme we see again in the not-too-distant future."
The Transportation Supply Chain is facing a variety of challenges, with recent regulatory changes in the trucking industry being a key consideration. Furthermore, an improving economy is creating increased demand from manufacturers that need to move their goods.
"Access to affordable, reliable shipping capacity is increasingly becoming a bottom-line business concern that manufacturers -- large and small -- cannot ignore," added Kramer.
The news isn't all bad for manufacturers; the shipping backlog has cleared, and there are a number of strategies that can be employed to help them in the future, including:
- Restructuring internal logistics strategies
- Forming strategic partnerships
- Outsourcing to third-party logistics companies.
To access the full report, click here.
About BMO Harris Bank
BMO Harris Bank provides a broad range of personal banking products and solutions through more than 600 branches and approximately 1,300 ATMs in Illinois, Wisconsin, Indiana, Kansas, Missouri, Minnesota, Nevada, Arizona and Florida. BMO Harris Bank's commercial banking team provides a combination of sector expertise, local knowledge and mid-market focus throughout the U.S. For more information about BMO Harris Bank, go to the company fact sheet. Banking products and services are provided by BMO Harris Bank N.A. and are subject to bank or credit approval. BMO Harris Bank® is a trade name used by BMO Harris Bank N.A. Member FDIC. BMO Harris Bank is part of BMO Financial Group, a North American financial organization with approximately 1,600 branches, and CDN $582 billion in assets (as of April 30, 2014).