The second, agility, will equip companies with the ability to meet rapidly evolving, and increasingly volatile, customer and consumer needs. However, some Tactics that may be beneficial in achieving improved flow of information include increasing communication and cooperation between all levels of the supply chain, separating orders to improve accuracy and efficiency, and implementing standard operating procedures (SOPs) to ensure consistent application across the organization. Transportation and logistics activities currently account for 12% of the global GDP. Amazon, Apple, McDonalds, Procter & Gamble and Unilever continue to be shining examples of adaptability, resilience and agility for the supply chain community. (Reuters, 2018), 46% of organizations dont use AI at all for their operations while 50.1% report limited usage. Keep it clean. (Statista, 2020), Companies can reap a 25% increase in productivity, a 20% gain in space usage, and a 30% improvement in stock use efficiency if they use integrated order processing for their inventory system. (Statista, 2020), 46% of small businesses use dont track their inventory or dont have an automated method to track it. The logistics network can play a key role in optimizing product distribution, improving customer service and reducing Costs associated with inventory. Please refine your filters to display data. Where the wild things are party supplies? By understanding all stages of production, a business can create a more efficient supply chain and produce better products faster. Through sustainable development we make our contribution to a more equitable global economy and provide energy . Where unavailable, latest available full-year data used. 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Moreover, we can expect that many companies will soon become more proactive in reinforcing supply chain processes using analytics. (SCMR, 2020), Info Global Solutions ranked fifth with $333.1 revenue. and Traditional supply-chain skills involving network design and optimization, demand and supply planning, and inventory management are all needed to drive operating performance impact from such initiatives. *Composite Score: (Peer Opinion*25%) + (Gartner Research Opinion*25%)+ (ROPA*20%)+ (Inventory Turns*5%) + (Revenue Growth*10%) + (ESG Component Score*15%) + 2020 data used where available. As a result, employees were not used to thinking about end-to-end trade-offs, and there was little collaboration between supply-chain functions or with the commercial side of the company. (Statista, 2021), 31.52% want to invest in production and distribution automation. Stay on topic. How great supply-chain organizations work. According to McKinsey Global Institute research, more than half of todays tasks could be automated by 2055, resulting in process transformations and the implicit need to reskill and upskill workers. A supply chain is an entire system of producing and delivering a product or service, from the very beginning stage of sourcing the raw materials to the final delivery of the product or service to end users. How well a company manages the supply chain will have a direct impact on how successful it is in the end. These include analytics, IoT, and cloud computing. Use the emerging strength and current focus on your supply chain to not only drive green and people-related programs, but also to secure marketing budget to fund these initiatives and be part of the value proposition to customers and investors. (RetailNext, 2020), Only 22% of companies have a proactive supply chain network. Cisco Systems scored the top spot for the third consecutive year, followed by Schneider Electric, Colgate-Palmolive, Johnson & Johnson, and PepsiCo. An entire system of producing and delivering a product or service, from sourcing the raw materials to the final delivery of the product or service to end users. (Statista, 2021), 40.02% want to improve integrated operational planning. The process typically begins with analysis of the company's current situation, followed by identification of threats and opportunities. (GEODIS, 2019), A majority of industry professionals (70%) predict that the supply chain will be a key driver of better customer service before the end of 2020. Across sectors, the majority of companies at least centralize the strategic supply-chain function, so that ownership and improvement of selected processes are orchestrated across geographies while local units maintain control of execution (Exhibit 1). Hardware, Building Maintenance, & Covid-19 Supply, Eight trucks for fast same day or next day delivery. (McKinsey, 2020), 40% plan the nearshoring and expansion of their supplier base. Consequently, the priorities and growth initiatives of companies have also evolved. One is the business process owner, who deals with continuous analysis and improvement of performance, and orchestrates common process interfaces. Supply chain statistics show that over the past few years, there have been many changes in industrial processes. The most effective capability-building programs we have seen develop an integrated set of functional, technical, and leadership skills, linking learning to existing business initiatives and capability profiles. Companies do this by designing new structures, roles, and processes to create a minimum viable product version of the new supply-chain organizationthen testing and refining their new supply-chain operating models in an iterative way. There are many factors that contribute to a company's competitive advantage. (RetailNext, 2020), 64% of retailers were challenged to adapt their supply chain for ecommerce. Proof of this is the fact that 69% of companies do not have total visibility over their supply chains. Gartner Terms of Use Never miss an insight. Sustainability is our guiding principle, supporting us in our day-to-day work and ensuring our long-term growth. The graph related to SCM Software Projections: 2020/2021 and Beyond, does not make sense when state numbers such as $8.6 million or $8.9 Million, it looks like must be Billion. There are several actions that could trigger this block including submitting a certain word or phrase, a SQL command or malformed data. Many challenges plague the supply chain industry. The work environment is collaborative and fast-paced. During times of disruption, these companies continue to lead by example and provide advanced lessons for the supply chain community. (Logistics Bureau, 2020), 62% of companies have limited visibility of their supply chain and 15% only have visibility on production. Your China related issues . In fact, a growing number of companies are using artificial intelligence and machine learning to power their processes. A supply chain is an integrated manufacturing process wherein raw materials are converted into final products, then delivered to customers. Cisco has made progress in greenhouse gas reductions, virgin plastic reductions, sustainable packaging and a 99.9% reuse or recycle of products returned. The first of these new priorities, resilience, addresses the challenges that have made supply chain a widespread topic of conversation. We hope that, through this list of supply chain statistics, we were able to help you be more up-to-date regarding the major changes in the industry. Company Information. Download now: Top 8 Supply Chain Technology Trends. The top performers offer valuable lessons in supply chain excellence. Even better is that they are making these products easier to navigate, so companies no longer need extensive technical know-how to utilize them. The supply chain is the backbone of business operations. This approach helps companies spot the issues outlined in this article, from misaligned incentives to capability gaps, and take steps to address them as they scale up the supply-chain transformation. They may be items that customers can physically touch, such as a cup of coffee, or things that cannot be seen, such as a map of the area. (Businesswire, 2020), 58.6% want to increase investment in omnichannel fulfillment. However, there are typically numerous middlemen between the manufacturer and the customer. Expand your ESG agenda and hold internal and external partners accountable for it. jsbacContactjsbacContact One-fifth of organizations tell us they have acute struggles with silos and difficulty in cross-business execution. Explore the latest: Supply Chain Top 25 for 2022. Several supply chain data sources reveal that many professionals are having problems with improving their operational visibility and meeting the changing customer demands. Where it exists, this role operates mostly at global, regional, or business unit level, where the demand rollup and supply reconciliation takes place within the supply network. Gartner Terms of Use The companys culture, biased towards execution and quick service, resisted the change, and employees became demotivated when planning processes appeared too bureaucratic. (Reuters, 2018). (SCMR, 2020), Coup ranked fourth with $334.8 million. Informing Customers About Features, Benefits, and Problems For more insights on AI and machine learning usage data, you might want to consider checking out this list of machine learning statistics. (McKinsey, 2020), The most important inventory management practices are forecasting (61.3%), warehouse management (50%), logistics (46.8%), and back-end technology (32.3%). Gartner Terms of Use Our research revealed six EBITDA-correlated organizational factors high-performing companies use to break silos and improve cross-functional supply-chain performance (Exhibits 2 and 3). However, there are many practices involved in inventory management, and doing them manually can eat up a lot of productive hours and put a damper on efficiency. In developing corporate-level strategies, a company often needs to make decisions on whether to operate a single line of business or enter into other related or unrelated industries. 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