Dive Brief:

• The Trump administration was urged to "amend, not end" the North American Free Trade Agreement by U.S. Chamber of Commerce President and CEO Thomas J. Donohue at the fifth annual U.S. Chamber of Commerce’s Global Supply Chain Summit, Logistics Management reported.
• Donohue referred to the supply chain as a "major artery of our economy,” adding that many of our daily conveniences contain components sourced from other countries, underscoring the global interdependency that marks the chain.
• Jane Holl Lute, CEO of SICPA North America and former deputy secretary of the Department of Homeland Security, asserted that the supply chain is on the verge of a "global cyber awakening" as technology permeates every aspect.

Dive Insight:

Underlying the call for valuing the existing supply chain is a recognition of the need for advanced technology to power the future of logistics. Tech is a part of every aspect involved, the "arteries" of commerce in a global economy. Juan Perez, chief information and engineering officer at UPS, believes that “Supply chains are so reliant on technology, and technology will continue to drive changes...all companies, including UPS, are essentially technology companies sometimes disguised in other elements of industry."

Yet some industries within the supply chain and logistics are lagging behind. An air cargo executive bemoaned the paperwork that still plagues transport by flight. Though inroads indicating stakeholder frustration with antiquated methods were made as recently as early May, real change has yet to occur.

Never the less, speakers and attendees at the Summit remain confident at the industry's outlook. Despite concerns about infrastructure and the costs associated, disruptive tech, including the development and testing of the Hyperloop One and blockchain, mean that companies understand not only the possibilities of what new tech represents, but how critical it already is amidst the shifting economic landscape.