Chris Caplice has deep knowledge of supply chain management: he’s the executive director of the MIT Center for Transportation and Logistics, chief scientist for DAT Freight and Analytics, and a Silver Family Research Fellow.
To kick off the second season of Unboxing Logistics, Chris uses his wealth of experience to predict what 2024 has in store for the supply chain industry.
An evolving relationship-building approach
In the old days, building business relationships involved taking someone to dinner or a sports game. Now, Chris says, the focus has shifted. The best way to establish great relationships with partners? Help them solve their business problems. “You need to have trust on both sides. And trust is only earned with repeated success.”
Geopolitical tensions on the rise
Geopolitical tensions have the potential to cause major supply chain disruptions, and they’re on the rise. As a result, Chris has seen organizations becoming more cautious when it comes to global trade.
“The US and other Western countries have woken up to the idea that they need to be a little more self-sufficient. I don't think global trade is going away … but I think we're being more strategic there.”
Preparing for the unknown
In the world of logistics, a million things can go wrong—how can you prepare? Chris suggests using a technique called scenario planning.
While he goes into more detail in the episode, here’s the in-a-nutshell version: “You envision three to four worlds, the way the future can be … and then say, if this was the future, what should I be doing now to prepare? By doing that, you're preparing the organization to be flexible.”
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