Chief supply chain officers (CSCOs) should focus on three specific strategies to deliver value amid disruptions from technological advancements, shifts in global trade, and economic uncertainties, according to a study from Gartner Inc.
Those challenges will not fade anytime soon, the consulting firm said at its “Gartner Supply Chain Symposium/Xpo” show this week. Rather, supply chain leaders should prepare for a period of prolonged uncertainty as major simultaneous disruptions facing organizations create a divergence of potential outcomes.
The strategic actions for CSCOs to prioritize to deliver value include:
- Navigate risk and uncertainty by investing aggressively in advanced visibility and building an iterative scenario planning capability
- Orchestrate dynamic supply chain outcomes through diversifying networks and taking ownership of commercial outcomes
- Accelerate innovation by matching ambitions with capabilities, while enabling and inspiring their teams to lead the transition
“Supply chain is viewed today as both a top risk and opportunity among CEOs,” Ken Chadwick, Distinguished VP, Advisory, in Gartner’s Supply Chain practice, said at the event. “Supply chain can be a positive catalyst for growth if CSCOs match their ambitions with focused investments in areas including tech adoption, commercial innovation, and developing the most critical capabilities that are yet unrealized within their own teams.”
For example, a recent Gartner survey showed that CSCOs consistently recognize advanced data visibility as an aspirational capability, but also said it was prioritized last among supply chain technology investment priorities.
“Advanced visibility and the foresight gained from scenario planning can equip the supply chain function to be the driving force to navigate risk and uncertainty,” said Chadwick. “Unfortunately, many CSCOs let obstacles such as an incomplete tech stack or data issues prevent them from making any progress. Instead, they should identify high-impact use cases and the most pressing risks and start to generate insights from what they do have in place today.”
