Catch up on the latest CAPS News: Tariff and Immigration Policies Effect on SCM, Navigating Geopolitical Risks, New Quick Poll- Evaluating Supply Chain Risks

While geopolitical risks are often unknown and uncontrollable, the top strategies global organizations use to manage these supply chain risks include increasing the number of countries as sources of supply; increasing the number of suppliers; buffering inventories; and reshoring or nearshoring. These approaches help to minimize the risk of disruptions caused by geopolitical tensions while also enabling faster responses to market demand fluctuations. 

Catch up on the latest CAPS News: AI In Procurement, Participate in a GenAI Survey, Read more about Procurement Leaders and top priorities, register for upcoming webinar

When the business involves the supply management group in purchasing and sourcing, it can increase savings, better leverage organizational spend, negotiate stronger contracts, and protect the organization from supplier risk. Managed spend, as a percentage of sourceable spend, is a primary indicator of a company’s ability to capture value from the supply management process.

Catch up on the latest CAPS News: Join us for insights on top risks, preparedness strategies, and updates on U.S. semiconductor production

Supply chain leaders’ top priorities for the next 12 months are advancing cost savings management, digitizing the S2P/P2P process, advancing supplier risk management, and implementing Generative AI into procurement/SCM processes.  Advancing the department through technology is a priority that delivers high returns with improved efficiency and reduced operating expense.

Experimentation and Supply Management, Access New Quick Polls & reports, Growth Anticipated in 2025, ASU Leads the way in Manufacturing Training

For many global firms, the accumulation of risks is amplified by the structural realignment of supply chains in this era of “slowbalization,” a period of slowing international economic exchanges and a shift away from rapid globalization towards more localized or regionalized economic activities.

Read about key operational and geopolitical risks, effective mitigation strategies, and organizational preparedness levels.

The top 3 technologies used to manage inventory accuracy are ERP/Accounting Software, Barcode Scanners, and Warehouse Management Systems, according to the recent Metrics of Inventory Management report. Inventory accuracy gives you actionable insights into your stock levels and helps you make smarter business decisions.

When adopting a new technology tool, 62% of companies indicated they have a well-established and mature strategy for the pre-adoption stage, and 64% have a mature strategy for the deployment stage. Companies with a mature post-deployment strategy drop substantially to 39%. Without a strong strategy in all stages companies will likely experience integration challenges and decreased ROI over time.