May 10, 2023
Technology investments keep supply chain companies competitive
Supply chain executives are making strategic investments in technology to stay competitive and maintain profit margins. The vast majority (87%) of businesses experienced supply chain disruptions in 2022, but most (62%) say their supply chains are reliable enough to withstand the pressure, says the ‘2023 Supply Chain Executives Survey’ by Blue Yonder. The top issue facing supply chain executives this year is inflation, which is causing costs to increase across the board, including in materials, transportation, and labour. As a result, profit margins have shrunk. In response, they have turned to strategic investment to bolster their preparedness for and responsiveness to inevitable logistics disruptions. Most of these investments (56%) are in technology, including warehouse management systems (44%), order management systems (39%), supply chain visibility tools (36%), and transportation management (30%). These investments have proven to be successful thus far, with over half (54%) reporting improved efficiencies, 42% reporting fewer disruptions, and 39% reporting revenue growth.
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