State of Global Supply Chain Survey—Lots of Work to Do
GEP just unveiled its “State of Global Supply Chain” commissioned survey of global business leaders conducted by Harvard Business Review Analytic Services. Findings support an urgent and dramatically escalated need to transform global supply chains.
Report highlights include:
- A mere 8% of companies surveyed have achieved digital maturity across six key areas of operations: warehousing and logistics, procurement, inventory management, supply planning, demand planning and management, and supplier risk management
- 70% are now accelerating their supply chain modernization with more emphasis on collaboration tools and real-time demand forecasting analytics to foresee and mitigate future disruptions
- 28% rate themselves as “leaders” that have achieved a high level of digital maturity across the six areas
- 50% lack the ability to track end-to-end performance across the supply chain
- The lack of real-time data about end-to-end performance is the biggest barrier to
- Only 20% can quantify ROI for their investment in supply chain transformation.
To address shortages, companies are rapidly transforming their supply chains expressly to reduce business risk and improve resilience:
- Two-thirds of organizations cite automation as a top procurement priority
- 50%+ expect supply chain transformation funding to increase this year
- Analytics, demand sensing, AI and robotic/automation represent the biggest funding increases
To learn more, visit www.gep.com.
Original Release: Yahoo
