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According to the results of a new study on supply chain resilience conducted by IBM and process mining company Salonis, 51% of supply chain leaders are willing to sacrifice profits to improve sustainability results, amounting to $ 22 billion for US Fortune 500 companies. One year.
In addition, these companies recognize the crucial role that technologies such as hybrid cloud, AI, process mining and execution management can play in overcoming the unexpected setbacks they have faced over the past two years. In fact, 87% of Chief Supply Chain Officers (CSCOs) are surveyed for execution of execution management and 77% are implementing process and task mining to modernize their operations.
By 2025, 83% of CSCOs plan to introduce AI-enabled real-time inventory management; Another 83% expect to introduce self-inspection, self-correcting assets; And 81% are looking at AI-enabled processes and workflows for real-time demand sensing.
In addition, in an effort to modernize their supply chain operations, 87% of CSCOs plan to use execution management in their day-to-day workflow.
The study’s findings suggest that organizations are looking for ways to modernize their supply chains by adopting data and hybrid cloud strategies, as well as prioritizing sustainability.
For example, supply chain leaders are redesigning processes by taking advantage of the latest, data-infused technology through the cloud – planning to accelerate the process of cloud adoption to increase real-time data access by 69%. The report also highlights the role of CSCOs, as well as the various ways in which they distinguish themselves from peers and competitors who focus solely on addressing current issues.
The report, titled “The Resilient Digital Supply Chain: How Intelligent Workflow Balances Efficiency and Sustainability”, was co-authored by the IBM Institute for Business Value (IBV) with Ceylonis and Oxford Economics. The group surveyed 500 key supply chain executives across industries to gain an in-depth understanding of how recent disruptions in global supply chains are affecting their short-term strategy, long-term strategy and business performance.
The study represents ten industries, including banking, consumer products, healthcare, electronics, telecommunications, insurance, industrial products, manufacturing, automotive and life sciences. The revenue of the surveyed companies ranges from $ 500 million to $ 500 billion.
Read the full report.
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