Descartes Systems Group, a global leader in uniting logistics-intensive businesses in commerce, released findings from its study, Supply Chain and Logistics Innovation Accelerates, but Has Long Way to Go, which examined how technology innovation is changing supply chain and logistics operations and executives’ plans for continued investment.
The report found that 59% of companies surveyed accelerated the pace of innovation investment and deployment over the last two years. Moreover, 65% plan to increase their technology spending over the next two years; however, 87% indicated they still face internal inhibitors to supply chain and logistics innovation.
The study of 1,000 supply chain and logistics decision-makers across nine European countries, Canada and the US provides supply chain and logistics organisations with critical insights into the importance of innovation and differences in the strategies, tactics and technology decisions of top financial performers and those companies whose senior management thought innovation was very important.
“The recent past has highlighted that supply chain performance can make or break companies and the need to innovate supply chain and logistics operations has moved to the forefront of many C-suite agendas,” said Chris Jones, EVP, Industry and Services at Descartes. “The study shows that, while efforts in supply chain and logistics innovation are accelerating, many companies are relatively early in their innovation journey in areas such as digitisation and especially in the use of advanced computing technologies such as Machine Learning.”
