CSCO Study: Achieving data-led innovationOriginally published 20 September 2022
Originally published 20 September 2022
Business today is anything but usual—and this is especially true in supply chains, where it’s no longer a question of if a major disruption is coming, but when. Now is the time for Chief Supply Chain Officers to prepare for what happens next.
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Originally published 20 September 2022
86%
increase in the importance of macroeconomic forces over the next 2-3 years, according to CSCOs.
95%
more digitalization and AI automation are used by top-performing CSCOs, compared to their peers.
36%
increase in CEOs citing supply chain disruption as one of their greatest challenges.
Another day, another crisis
A persistent pandemic, economic uncertainty, and a global geopolitical conflict continue to dominate headlines and fuel Chief Supply Chain Officer (CSCO) frustrations. Navigating uncertainties—and managing supply chain challenges accordingly—has out of necessity become a top business priority for boards and C-suites alike.
86%
increase in the importance of macroeconomic forces over the next 2-3 years, according to CSCOs.
95%
more digitalization and AI automation are used by top-performing CSCOs, compared to their peers.
36%
increase in CEOs citing supply chain disruption as one of their greatest challenges.
Over the next two to three years, CSCOs say that issues related to supply chain disruptions, technology infrastructure, sustainability, and market shifts are their greatest challenges. Yet when addressed with an open mindset, challenges create opportunities—and visibility. A heightened emphasis on supply chain functionalities and roles is giving CSCOs the expertise, latitude, and organizational authority to innovate into a data-led future.
With disruptions looming around every corner, CSCOs will need deep organizational awareness to keep their balance. AI and intelligent workflows can deliver 360-degree insights and impact analysis that provide interconnectivity and help with predictability. Intelligent workflows can help the workforce—digital and human—dynamically adjust to the unforeseen with both self-learning and self-calibration. And automation—ranging from chatbots to robots—is an essential component.
In fact, how CSCOs prioritize technologies speaks volumes to their near- and mid-term devotion to intelligent workflows to monitor and take action.
Most CSCOs believe AI will deliver results over the next 3 years—though other exponential technologies aren’t far behind.
Universal problems can prompt a universal response, and that’s the case with CSCOs. Across the spectrum, CSCOs have adopted a steady-as-they-go emphasis on automation, AI and intelligent workflows, ecosystems, and sustainability.
But with a steely eye to the future, a group of CSCOs who are outperforming their peers stands out in their obsession with investing in transformational technology. They’re ratcheting up these strategies, adopting a data-driven approach that emphasizes four tech-enabled areas:
Adopting hybrid cloud enables CSCOs to extend the value and reach of their legacy applications and data in a flexible infrastructure that also accommodates the exponential technology needed to drive innovation.
Top-performing CSCOs are simulating decision impact, anticipating operational challenges, modeling pre-emptive new strategies, and—critically—evaluating options when there’s no available historical data.
58% of top-performing CSCOs see opportunities to bond with customers over sustainability imperatives, using that shared mission to improve customer engagement and fulfillment.
According to IBM research, 47% of attacks on manufacturing were due to vulnerabilities companies could not—or failed to—patch. The top tier of CSCOs report outperforming their competition on cybersecurity 16% more than other CSCOs.
innovation with our
action guide.
- Accelerate automation in extended workflows
- Amp up AI to make workflows smarter
- Cultivate collaborative ecosystems
- Link environmental and social initiatives with business solutions
- Optimize workflows with AI to manage carbon, waste, energy, and water consumption
- Compete with new sustainable products and services
- Architect modern infrastructures
- Scale hybrid cloud platforms
- Increase awareness of cybersecurity vulnerabilities and solutions
- Accelerate automation in extended workflows
- Amp up AI to make workflows smarter
- Cultivate collaborative ecosystems
- Link environmental and social initiatives with business solutions
- Optimize workflows with AI to manage carbon, waste, energy, and water consumption
- Compete with new sustainable products and services
- Architect modern infrastructures
- Scale hybrid cloud platforms
- Increase awareness of cybersecurity vulnerabilities and solutions
