Improving the supply chain is a big priority for companies, but many of them are focusing on basics at the expense of wider opportunities.
Improving the supply chain is a big priority for companies, but many of them are focusing on basics at the expense of wider opportunities, according to a new survey from PwC.
The survey, of 244 executives and supply chain officers, show that 63% want to increase efficiency in their supply chain and 59% want to manage and reduce costs. However, only 16% say they want to take specific actions such as transforming their procurement practices and operating model, improving automation or improving aftermarket sales support and logistics.
“This suggests that many companies are focusing more on the bottom line in the short term but have yet to make some of these potentially transformative actions a bigger focus,” the report says.
The biggest concern cited in the survey was “securing raw materials from suppliers,” which 27% saw as a “major risk” and another 37% as a “moderate risk.” Supplier operational issues were another big concern, with 24% citing it as a major risk and 44% as moderate.
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