UPDATE - GT Nexus Global Supply Chain Research Report Finds 40 Percent of Respondents Faced Supply Chain Disruption in Past 12 Months
Research Shows Expectations for Major Supply Chain Challenges and Risks Throughout 2016, yet Respondents Reveal Misguided Execution Roadmaps Based on Priorities Identified
NEW YORK, NY --(Marketwired - February 10, 2016) - An infographic has been added to the multimedia section of this release.
GT Nexus, the world's largest cloud-based global commerce platform, today issued its first ever State of the Global Supply Chain Report, an analysis of the top issues, challenges and opportunities faced by manufacturers. The study, which was conducted in partnership with global research firm, YouGov, sought to identify the following:
Technologies and industry issues that have, and will have, the most notable impact on manufacturers' supply chains;
Primary supply chain challenges and goals for improvement;
Operational issues such as whether or not respondents' companies have a Chief Supply Chain Officer in place to help manage the above.
Of the 250 senior manufacturing executives polled, 40 percent reported a supply chain disruption that impacted their business over the past 12 months. Yet, despite the struggle with disruptions, less than a quarter (24 percent) currently have a Chief Supply Chain Officer in place to help orchestrate the response, and an additional 41 percent said they have no plans to hire one.
"It's clear in the report that manufacturers expect to face major supply chain challenges in 2016 stemming from external factors beyond their control," said Greg Kefer, VP Corporate Marketing at GT Nexus. "The data suggests their execution roadmap may be misguided, being focused more on cost cutting, for example, than more mission-critical things like having a senior supply chain leader in place. Seventy six percent of respondents said they currently operate without a Chief Supply Chain Officer. With almost half of manufacturers reporting a disruption that impacted business in the past 12 months, this gap in strategic direction to address broader supply chain agility is a concern."
Findings about respondents' technology priorities were also surprising, with 38 percent indicating they don't believe their supply chain will be impacted by technology this year. This may suggest a lack of knowledge regarding the impact technology-based systems can have on mitigating supply chain disruption and the role of these systems in supply chain strategy and control. While 64 percent of respondents acknowledged using inventory management, for example, the numbers were far smaller for those expecting an impact from more advanced technologies like analytics (13 percent), the Internet of Things (11 percent) and RFID (three percent) that have been shown to give organizations an edge in their supply chain management operations.
For a closer look at the findings, download the full report here.
About the survey
All figures, unless otherwise stated, are from YouGov Plc. Total sample size was 250 adults with a senior role within the manufacturing industry. Fieldwork was undertaken between December 17-28, 2015. The survey was carried out online.
About GT Nexus
GT Nexus, an Infor company, operates the world's largest cloud-based business network and execution platform for global trade and supply chain management. Over 25,000 businesses across industry verticals, including adidas Group, Caterpillar, Citi, Columbia Sportswear, DHL, Electrolux, Levi Strauss & Co., Nestlé, P&G, and Sears share GT Nexus as their standard, multi-enterprise collaboration platform. This enables all network participants to operate against a core, real-time and always on set of information across multiple supply chain functions, allowing them to optimize the flow of goods, funds and trade information, from the point of order through final payment. For more information please visit us at www.gtnexus.com.
About Infor
Infor builds beautiful business applications with last mile functionality and scientific insights for select industries delivered as a cloud service. With 13,000 employees and customers in more than 200 countries and territories, Infor automates critical processes for industries including healthcare, manufacturing, fashion, wholesale distribution, hospitality, retail, and public sector. Infor software helps eliminate the need for costly customization through embedded deep industry domain expertise. Headquartered in New York City, Infor is also home to one of the largest creative agencies in Manhattan, Hook & Loop, focused on delivering a user experience that is fun and engaging. Infor deploys its cloud applications primarily on the Amazon Web Services cloud and open source platforms. To learn more about Infor, please visit www.infor.com.
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