A recent study that we conducted with Forbes Insights found that most companies are in the early stages of digitizing their supply chains. In fact, our study revealed that only a small group of companies (9%) are applying high levels of digitization to their supply chain planning and execution.
Given the industry’s measured embrace of supply chain digitization, we believe decision-makers need to get serious about modernizing core capabilities that span the industry’s value chain — from manufacturing and distribution through retailing. When applied properly, supply chain digitization can address several issues including revenue growth, our respondents believe (see Figure 1).
There is, however, a growing realization that despite widespread dissatisfaction with early digital supply chain efforts as revealed by our study, decision-makers believe more informed, data-driven decision-making via enhanced analytics capabilities will eventually pay off. For example, nearly half of senior executives we surveyed in the retail and CPG industries (49%) believe their organizations can achieve digital supply chain maturity over the next few years.