data is the new currency of supply chains
The Future of Supply Chain insights report summarises the key findings of Six Degrees Executive research into Supply Chain in Australia. The findings show a wave of disruptive change flowing through the Supply Chain industry.
Data is the new currency of supply chains and people who can understand and manage data will be increasingly in demand. The report highlights a significant challenge for the industry in coping with the changing skill sets required.
The presence and significance of these changes is well known in the industry, however the research reveals an industry with low preparedness and capability to respond to the changes required to drive the industry forward.
Adapting to a data-driven future requires change at multiple levels including:
Increased Supply Chain representation at the executive level
New leadership that presents the strategic importance of the industry to stakeholders
New ways of identifying and capturing industry talent especially through closer integration with higher education and support of graduates
Better practices to identify and promote talent within companies, including reskilling existing workers While data and analytics are key to successful supply chains, the differentiator of future success will be the enablement of people, using strategic thinking, agility and leadership capability to lead the change.
The research was conducted in May 2019 by the EVOLVED Group, with contributions from 116 supply chain professionals working in supply chain, operations, general management and procurement. More than half of the participants were in leadership roles in companies with $500m or more of turnover.