PwC publishes 2022 survey of top digital trends in supply chain

With the world’s supply chains under more scrutiny than perhaps ever before, companies are working to improve resilience, boost efficiency and continue delivering for customers. Supply chains have always been critical but often operated behind the scenes. The COVID-19 pandemic and ensuing disruption changed that, revealing the importance of supply chains to a much wider audience. That’s the top line takeaway from a recent PwC supply chain survey.

The pandemic also accelerated the need to update and upgrade supply chains in an increasingly digital world. As companies navigate inflationary pressures and a volatile economy overall, growing geopolitical uncertainty and the persistent pandemic, the PwC Digital Trends in Supply Chain Survey 2022 shows that many challenges remain to fully optimize supply chains.

• While companies focus on supply chain basics like increasing efficiency and managing costs, they’re missing value creation opportunities in digitization, sustainability and transformation.
• A majority cite multiple supply attributes as moderate or major risks, yet few see increasing the number of suppliers, transforming procurement practices or increasing responsiveness and resilience as priorities — a significant disconnect.
• How emerging tech is used in supply chain operations varies greatly, as do future investment plans. But 80% of respondents say technology investments haven’t fully delivered expected results, and many reasons are to blame.
• In digitizing their supply chains, companies need the most help stretching their budgets, but having the right talent and the right tech are issues as well.
• Many companies — 58% of respondents — are seeing higher than normal supply chain employee turnover, and only 23% fully agree that they have the necessary digital skills to meet future goals. Most also expect to make changes to their operational systems in the next year.
• Responding to regulatory changes and identifying supplier risks are top environmental, social and governance (ESG) challenges, but fewer companies are focusing on ESG reporting and metrics.

The 244 operations and information technology leaders, C-suite executives and other supply chain officers surveyed clearly have full plates as they manage current disruptions. But as important as it is to win day-to-day battles, companies also need to take advantage of opportunities revealed in our survey that can help improve their chances for long-term success. The full survey results are here.

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