What factors go into creating a successful supply chain? According to the EY Americas Supply Chain Reinvention Survey 2019, which surveyed senior-level supply chain executives on topics ranging from adopting technology, retaining leadership and talent, and prioritizing investment to supporting sustainability, here are the notable trends:
A long road to 2025: More than 50% of senior-level supply chain executives expect autonomous supply chains by 2025. But only 25% of supply chains are currently digitally networked or autonomous.
The secret sauce: Autonomous supply chains see greater improvements in market share and customer satisfaction, compared to linear counterparts:
• 90% of respondents with autonomous supply chains report that market share increased somewhat or significantly in the past year, compared to 7% of linear supply chains.
• 97% of respondents with autonomous supply chains report their customer satisfaction somewhat or significantly increased in the past year, compared to only 8% of linear supply chains.
Talent shortage: 55% of companies report they are retraining employees in the supply chain function for digital technologies, but cite a lack of skilled employees as the no. 2 obstacle to a successful supply chain.
• Just 44% say their employees are prepared for digital innovation in the supply chain.
Sustainability priorities: Over the next three years, sustainability is the no. 2 priority for supply chains, behind increased efficiency.
• 90% of companies with autonomous supply chains say sustainable management reduces costs in the long term, versus 25% of those with a mostly linear supply chain.