A new study by the IBM Institute for Business Value (IBV) titled "Mastering Your Transformation", a survey of 1,500 chief supply chain officers and chief operating officers (COOs) revealed How Supply Chain Officers (CSCOs) are responding to major supply chain challenges posed by factors such as the global covid-19 pandemic, inflation, climate change, and geopolitical events, and how they plan to future-proof their supply chains.
The report's findings show that supply chain leaders in companies are embracing artificial intelligence and automation to provide interconnectivity with partners and suppliers for sustainable operations and predictability .
Of these, nearly half (47%) of CSOs surveyed said they have introduced new automation technology in the past two years an approach that makes supply chain operations more predictable, flexible, and intelligent, while also Using AI to help monitor and track supply chain performance.
In addition, the research report shows that for supply chain managers, sustainability is both a challenge and a driver of change. The Chief Supply Chain Officers surveyed ranked sustainability as their third top challenge for the next few years, after supply chain disruption and technology infrastructure. Of these, 52% put sustainability at or near the top of their list of priorities; 50% believe their sustainability investments will accelerate business growth. They also revealed that the most immediate pressures for sustainability transparency come from: investors (56%), board members (50%), and customers (50%).