Chief executive officers (CEOs) at U.S. companies are looking to strengthen ties with their companies' suppliers this year. That was one of the key findings in the U.S. segment of the consulting firm PwC's "16th Annual Global CEO Survey."
Fifty-three percent of the 167 U.S.-based CEOs who took part in the research said they would strengthen engagement with key suppliers in 2013 to both minimize costs and maximize supply chain flexibility and delivery performance. Industries most focused on supplier engagement included industrial manufacturing, consumer goods, energy, and technology.
The survey also found that 41 percent of CEOs were concerned about energy and raw materials costs. Because of those concerns, PwC noted, more CEOs are expected to consider "reshoring" their operations and to explore new sourcing options.
As for overall operations, only 71 percent of surveyed CEOs plan to implement cost-cutting measures, down from 81 percent in last year's survey. Forty-four percent of survey respondents also said they are making investments to increase the operational effectiveness of their company. That includes outsourcing a business process or function (29 percent) or "insourcing" a previously outsourced business process or function (17 percent).
Detailed information about PwC's "16th Annual Global CEO Survey" is available here.