Leaders don’t get tech and it’s holding back supply chains

THIS GAP between recognising technology’s potential and practically implementing it was identified in the Attitudes to Innovation report, commissioned by supply chain consultancy TMX Transform. 

The research surveyed more than 250 global supply chain and logistics decision-makers.

Of the business leaders questioned, the majority are on board with technology in the supply chain. Three quarters have implemented innovative technology within their organisation and of these, four in five (80%) say their organisation is set for growth in the upcoming year, compared with just under 3 in 5 (59%) who have not implemented new technology.

The most implemented tech solutions are predictive analytics (62%), sustainable tech to reduce carbon footprints (59%), and the Internet of Things (52%). According to the data, predictive analysis has had the greatest impact on businesses, with 94% citing the technology has had a positive impact on their business.

Digital twins

When asked about the technologies that organisations have not implemented, but plan to, simulation/digital twins was the most common response, with 44% of respondents planning on adding the solution to their supply chain capability.

Yet nearly a quarter of respondents (24%) are unsure about AI/Machine Learning capabilities, while 60% are uncertain about what simulation/digital twins technology is, or does.

TMX Transform executive director – supply chain Tom Fitz-Walter, says: “Automation and technology are crucial in addressing the pressing issue of labour shortages in supply chains. However, experiencing the biggest benefits of technology hinges more on people than the technology itself. As organisations face challenges like high staff turnover and a lack of experienced leaders, nurturing and retaining skilled personnel becomes essential to successfully implementing technology solutions and driving innovation.”

To read the full Attitudes to Innovation report, click here.