55% of supply chain leaders boost technology investments

A new report from MHI and Deloitte highlights the growing focus on digital supply chain solutions. It reveals that 55% of supply chain leaders plan to increase their investments in technology and innovation. Additionally, 60% intend to spend over $1 million on these initiatives, with some looking to invest more than $10 million. The report emphasizes the importance of integrating technology and human workers in supply chains. As companies face complex challenges, end-to-end supply chain orchestration has become vital for competitiveness. This strategy connects every part of the supply chain seamlessly. John Paxton, CEO of MHI, noted that a balance between human talent and technology is essential for improving efficiency and transparency. The report forecasts a significant rise in the use of artificial intelligence (AI) in supply chains. Currently, 28% of respondents use AI, and 54% plan to adopt it in the next five years. AI can enhance various supply chain processes, including inventory management and demand planning. The report also highlights key trends affecting supply chains, such as inflation, economic uncertainty, and workforce shortages. These challenges underscore the need for agile and resilient supply chains. The findings are based on surveys conducted with over 700 industry leaders at the end of 2024. The report provides real-world case studies and recommendations for implementing digital technologies. MHI has been a significant player in the logistics and supply chain sector since 1945, supporting its members with education and networking opportunities.