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Supply Chain Trends Report 2024
Inflation, Talent, and Tech: The Current State of Business and Supply Chain
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Introduction
Welcome to the Supply Chain Trends Report 2024. TrueCommerce commissioned this study and surveyed 150 business leaders to better understand the current state of business and supply chain operations for global companies across a variety of industries.
In this comprehensive report, we uncover the key challenges and emerging strategies shaping the supply chain industry—and share sound advice for companies wishing to streamline their operations.
Download the report to explore the findings and learn best practices to prepare you for the future.
Key Finding
Supply Chain Challenges Persist
Business leaders continue to struggle with familiar challenges with cost control, acquiring new customers, and attracting and retaining talent consistently ranking as the top issues for 2024. Despite changes in the market, these fundamental categories remain critical to business operations and growth.
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Key Finding
Anticipated Supply Chain Disruptions
Inflation, labor shortages, and cyberthreats are the primary supply chain disruptions expected in 2024. An overwhelming 95% of surveyed leaders foresee significant difficulties in these areas, underscoring the need for robust strategies to manage these risks effectively.
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Key Finding
Technological Investment as a Key Strategy
The adoption of new technologies is a major focus for businesses aiming to improve supply chain resilience and operational efficiency. Nearly three-quarters of respondents are prioritizing investments in modern solutions, such as supply chain management (SCM) and electronic data interchange (EDI), to enhance visibility, streamline processes, and ensure real-time information exchange across the supply chain.
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Key Finding
Compliance, E-Invoicing, and Global Supply Chains
Maintaining compliance with tax mandates and regulations is crucial for businesses operating in a global environment. The rise of e-invoicing solutions is helping companies ensure compliance, accelerate payment cycles, and reduce administrative burdens. Additionally, seamless integration with leading ERP systems around the world is essential for managing global supply chains effectively.
Global supply chain leaders must deal with mandates surrounding:
- Product/quality regulations
- Tariffs and import/export restrictions
- Environmental regulations
- Regulatory compliance
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The above findings are just a few of the many learnings from this research study.
Discover actionable insights and expert strategies to navigate the complex landscape of today's business environment.
Download The TrueCommerce Supply Chain Trends Report 2024 now and equip your business with the knowledge to thrive amidst the challenges of inflation, talent shortages, and technological advancements.