Blue Yonder has released the results of its inaugural Supply Chain Compass report, highlighting the key strategic priorities of nearly 700 global supply chain leaders. Implementing new technology (51%), improving efficiency and productivity (40%), and building more resilient supply chains (29%) were the top three priorities.
However, although resilience is a high priority it is also an area where there is low confidence in being able to achieve organizational goals in the next three years. When asked about their Level of confidence in achieving the strategic priorities in the next 3 years ‘Becoming more resilient to risks & challenges’ was given the second lowest level of confidence, followed only by ‘Breaking silos, ensuring supply chain is connected E2E’.
Achieving each strategic priority over the next three years will require specific actions, and respondents identified better demand planning (46%) and quickly obtaining and analyzing data on performance (46%) as two of the top actions they believe are essential to success. This was followed by investing in tracking and visibility solutions (45%), digital software transformation and innovation (41%), and managing supply chain costs (33%). In the current macroeconomic environment characterized by volatility and rapid change, focusing efforts on each of these actions will be critical.
