Kinaxis: supply chain resilience and agility top UK priority
With the impact of COVID-19 affecting supply chains around the world, Kinaxis emphasises the importance of supply chain resilience and agility.
In a recent study carried out by International Data Corporation (IDC) and sponsored by Kinaxis, over the next 12 months 48% of organisations have marked supply chain resilience and agility as the biggest priority, focusing on:
In addition to these findings the report also highlighted that among more than 1,800 supply chain professionals, nearly two-thirds (65%) of companies believe that their supply chain planning capabilities provide a competitive differentiation in today’s industry landscape. However, 30% of companies in the EMEA feel that current supply chains are either just on par with others, or at a competitive disadvantage.
As a result it is clear that supply chains looking to transform into a competitive differentiator is not an easy task, with 35% reporting security concerns as the biggest barrier for digital transformation efforts, followed by 33% reporting legacy systems as a barrier as well as 31% reporting technology expertise.
“We are starting to see the use of modern digital technologies really driving supply chain transformation but there is still much work to do. Companies whose supply chains are less mature are falling behind in terms of being able to act on real-time insights and make use of accurate data to keep themselves ahead of the pack. It’s also evident that those that have a competitive advantage at the moment will need to continually invest in technology to maintain this advantage over the coming years,” commented John Sicard, CEO of Kinaxis.
Also discovered within the research, 35% of supply chain organisations plan to invest in the application of artificial intelligence and machine learning, but have not yet passed the use case and/or roadmap planning stage. However, 60% are starting to or are using these innovative technologies today.
“It’s imperative that companies prepare their supply chains today, and lean into digital transformation to improve all business operations, including integrated business and supply chain planning. The impact of technology on the supply chain, and its implications for planning transformation specifically, leads to supply chain resiliency and agility allowing companies to be better prepared to respond to and navigate business disruptions,” added Sicard.
About Kinaxis
Founded in 1995, Kinaxis helps organisations to ensure their supply chains are in sync by connecting data, processes and people on a single RapidResponse platform. By leveraging Kinaxis’ end-to-end visibility and collaboration tools, organisations can shorten planning cycles, cut manufacturing lead times, reduce inventory and improve on-time deliveries. As a result these improvements increase an organisation’s supply chain maturity and resilience.
SEE ALSO:
- Supply chain accountability: building a sustainable future
- Mastercard: how supply chain is ensuring speed to market
- IMI Critical Engineering: unifying its global supply chain
- Read the latest edition of Business Chief EMEA edition, here
For more information on business topics in Europe, Middle East and Africa please take a look at the latest edition of Business Chief EMEA.
