Lack of automation and visibility ranks top among the anxieties faced by organizations. Aberdeen’s findings say that 79% of the large enterprises consider this as a major concern. This is closely followed by issues arising from uncoordinated nature of multi-tier supply chain processes.
These two problems lead to higher inventory cost, increased carrying costs and extended cycle time. For midsized organizations efficient management of the growing global operations and distribution networks also pose as a very big challenge.
Top challenges at a glance
Organizations are making significant developments in technology (by using new breed of global supply chain automation) and processes (by collaborating with new partners) to address the above concerns.
Technology innovation is playing a significant role in helping organizations cope up with the supply chain challenges and their causes. Organizations are focusing primarily on customized solutions to improve visibility, collaboration, trade compliance, logistics agility, demand forecasting and risk management.