Guest: Jason Schenker of Prestige Economics with predictions for supply chains in 2025; What will happen with labor pools this year? 'Tis the season of retail returns
In this discussion, Jason Schenker, President of Prestige Economics and a leading economist, provides his insights on the U.S. economic landscape and predictions for 2025. He analyzes labor pool challenges in logistics, emphasizing the quest for qualified workers and automation trends. Schenker also tackles the implications of tariffs and geopolitical risks on supply chains. As the peak shipping season transitions into the return season, he highlights innovative approaches retailers are adopting to streamline reverse logistics.
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insights INSIGHT
2025 Economic Outlook
The U.S. economy is expected to see modest GDP growth, lower interest rates, and easing inflation in 2025.
Geopolitical risks, particularly concerning China, remain a significant concern.
insights INSIGHT
Tariff Strategy
Proposed tariffs on countries like China, Mexico, and Canada are likely negotiating tactics.
The incoming administration's primary interest lies in addressing trans-shipments from China, the border crisis, and fentanyl imports.
volunteer_activism ADVICE
Supply Chain Rethinking
Supply chain professionals should reduce their reliance on China due to increasing geopolitical risks.
Focus on building domestic manufacturing capabilities.
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Our guest on this week's episode is Jason Schenker, president of Prestige Economics. Schenker is one of the world's leading economists and he shares his insights into what happened in 2024 with the U.S. economy as well as predictions for 2025. Our discussion includes the economic outlook for supply chains and the material handling industry in particular, inflation, consumer prices, interest rates, employment, and looming tariffs
One of the top themes we covered in the past year was the labor pool, and specifically how employers in the logistics sector have struggled to find either qualified employees for increasingly technical positions, or simple enough at all for even entry level positions for things like warehouse work and truck driving. This week a report was released that identified five workplace trends that are coming up in the new year, and methods for how employers can best adapt.
With peak shipping season behind us, it’s time to move on to peak returns season. We are now in the thick of it when it comes to reverse logistics, as retailers and e-commerce fulfillment companies deal with all those post-holiday gifts coming back. We preview a January story in DC Velocity that reveals that many retailers are rethinking their approaches when it comes to managing their returns processes.
Supply Chain Xchange also offers a podcast series called Supply Chain in the Fast Lane. It is co-produced with the Council of Supply Chain Management Professionals. A series of ten episodes is now available on the "State of Logistics." The episodes provide in-depth looks into the current states of key transportation modes, such as trucking, rail, air, and ocean. It also looks at inventory management, 3PLs and more. All ten episodes are available to stream now. Go to your favorite podcast platform to subscribe and to listen to past and future episodes. The podcast is also available at www.thescxchange.com.
Logistics Matters with DC VELOCITY 