The results of a recent SAP survey of senior business decision-makers show that supply chain disruptions are not over yet:
- 52% think their supply chain needs much improvement
- 49% expect current supply chain issues to last to the end of 2022
- 33% say issues will last until summer 2023
The business leaders reported that current supply chain issues were caused by global political unrest (58%), raw material shortages (44%), and rising fuel and energy costs (40%). Cost remains an issue as many companies try to catch up on lost revenue during the pandemic.
The top three ways companies are strengthening their supply chains for the future are adopting new technology to overcome challenges (74%), implementing new contingency measures (67%), and prioritizing North-American based supply chain solutions (60%).
1) New Research Forecasts the State of U.S. Supply Chains in 2023, SAP News Center. October 24, 2022. Accessed Nov 14, 2022.