ACG, the Association for Corporate Growth, found that only 18% of companies have adopted technology solutions to solve supply chain challenges since the Coronavirus disease (COVID-19) pandemic began, while 8% of survey respondents hired a dedicated supply chain professional or another professional with supply chain experience over the past year, and another 6% indicated they plan to hire such a professional.
“Despite ongoing supply chain challenges exacerbated by COVID-19, our survey of middle market company leaders indicates that many businesses remain unprepared for the future,” says Tom Bohn, president and CEO of ACG. “The middle market represents the largest segment of our workforce, and if done properly, adopting new technologies and hiring talent to implement these solutions has the potential to result in increased productivity going forward.”
- Blockchain and analytics are identified as the two elements of technology that could help businesses in the near future.
- 41% of respondents faced supply chain challenges since the pandemic began.
- 27% experienced delayed or canceled shipments of inventory or raw materials.
- 18% adopted technology solutions to solve supply chain challenges.
- 5% experienced a lack of internal supply chain management expertise.
- 4% respondents reported high transportation costs.