Turn Up the Tech
Driven by the need to improve visibility and better manage the workforce, nearly three-quarters of supply chain leaders are increasing technology and innovation investments, finds the 2023 MHI Annual Industry Report, The Responsible Supply Chain: Transparency, Sustainability, and the Case for Business, conducted with Deloitte.
Sustainability is also top of mind, as nearly half of respondents (48%) face increased pressure from consumers, regulators, and industry groups to adopt a greener supply chain.
The report cites the top five challenges supply chain executives say they face in 2023:
1. Hiring and retaining qualified workers (57%)
2. Talent shortages (56%)
3. Supply chain disruptions (54%)
4. Out-of-stocks (52%)
5. Customer demands (52%)
Many companies are responding to these challenges by investing in technology.
For example, labor shortages are forcing companies to examine technologies that improve efficiency and reduce repetitive, manual labor. The hope is that this technology creates an environment with more rewarding supply chain jobs that appeal to top talent and upskill current employees.