Supply chain resilience rated as highly as cybersecurity

A new study finds 83 percent of executives now rank supply chain resilience as being as critical as cybersecurity, and many are turning to technology to strengthen their operations.

The research from Cleo shows that to bolster resilience, 47 percent are considering artificial intelligence (AI), recognizing its potential to automate processes, predict disruptions, and enhance decision-making.

"As customer expectations rise and global challenges evolve, businesses can no longer afford to react -- they must proactively anticipate and adapt," says Tushar Patel, CMO at Cleo. "Building supply chain agility and resilience is vital for companies that want to keep operations running seamlessly, profitably, and competitively, especially in an increasingly unpredictable environment."

Other technology investments being prioritized include 93 percent using or planing to use automation within two years to increase efficiencies in areas like supply chain operations and customer service. 66 percent say real-time data improves their decision-making and customer service, and 55 percent are considering artificial intelligence in order to enhance the customer experience.

"By leveraging automation, real-time data integrations, and artificial intelligence, businesses can create a competitive advantage," adds Patel. "Companies can proactively pivot to market changes, strengthen customer and supplier relationships through real-time insights, and prove they are a reliable, trustworthy supply chain partner that gets the job done on-time in-full, leading to repeat business that boosts revenue."

The report also shows businesses are focusing increasingly on environmental initiatives, as 47 percent of customers have rising sustainability standards. The report finds that 97 percent have a sustainability program, driven by goals such as positioning themselves as conscientious industry leaders (55 percent) and reducing costs (35 percent).

You can get the full report from the Cleo site.

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