Supply chain planning is driving better business performance and helping companies realize the benefits of digital transformation, according to a study by supply chain management firm Kinaxis and International Data Corporation (IDC), released this week.
The research polled 1,839 respondents across three regions and six sub-industries within manufacturing, and revealed that 65% of firms view the supply chain as a source of competitive differentiation in today’s marketplace. Supply chain planning is a key factor in building differentiation, and most firms also said that improving supply chain resiliency is their top priority—especially in a disruptive business climate.
“After a long history of being relegated to support status, supply chains are now being perceived as a strategic tool for business performance and growth,” Simon Ellis, program vice president at IDC, said in a statement announcing the findings. “Supply chain planning is at the heart of the modern supply chain and is central to overall transformation. If companies don’t get supply chain planning right, they don’t get the supply chain right; if they don’t get the supply chain right, they risk sales and profits.”
The study’s key findings focused on resilience, agility, planning, and digital transformation: