July - 2022 19logisticstechoutlook.comBy Mac Sullivan, Head of Technology and Digital Promotion and Sean Tang, Business, Trade, and International Relations, NNR Global LogisticsCXO INSIGHTSThe cataclysmic dominos continue to topple in as a series of events leading up to where we are today has accelerated the modernization of the logistics pace at an unprecedented speed. Three events have had a significant impact:1.) The U.S. ­ China trade war2.) COVID-19 and the work from home movement3.) The Suez Canal paralyzed by the container ship the Ever GivenIn this article, we will evaluate how these events are driving an expedited digitalization of one of the world's oldest industries, one that had barely just caught up to the Third Industrial Revolution (3IR). We have made this abundantly clear in our new book, which talks about many of the challenges and opportunities facing us moving forward.What the U.S. ­ China trade war did was bring the back office compliance and supply chain functions related to customs clearance and associated sourcing documentation to the forefront of board-level conversations. As the threat of 40% increased landed cost weighed heavy, CFO and COO's alike tried to run simulations on how these duty increases would affect their global supply chains as upstream suppliers and downstream end customers would not only have to share the burden but be put in a new negotiating position. The subsequent analysis highlighted the lack of digitalization in the logistics industry. From the SUPPLY CHAIN'S MOST UNDER-APPRECIATED PILLAR PUT IN THE SPOTLIGHT: LOGISTICS DIGITALIZATION PROGRESS UPDATESean Tang
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