73% of Average Supply Chain IT Budget Will Be Allocated to Growth and Performance
As organizations place greater emphasis on supply chain management, Chief Supply Chain Officers (CSCOs) intend to grasp their collective opportunity to invest in growth through new technology investments, according to Gartner, Inc.
In a survey of 499 supply chain leaders from October through December 2022 in North America, Latin America, Western Europe and the Asia/Pacific region, 65% of respondents said they anticipate it will be easier to fund new technology investments with 73% of supply chain IT budgets this year to be allocated to growth and performance enhancements, on average.
To help guide those investment decisions, Gartner analysts are presenting here today at Gartner Supply Chain Symposium/Xpo™ the top eight supply chain technology trends that will receive much of that investment.
“The last three years of uncertainty have blurred the line between business and technology strategies to the point that they must be considered together,” said Simon Jacobson, VP Analyst in Gartner’s Supply Chain Practice. “Supply chain leaders must have an understanding of the strategic, disruptive and unavoidable technologies that will impact their planning processes over the next five years.”
Jacobson noted that three key motivations among supply chain leaders help to categorize this year’s technology trends: to pioneer new forms of engagement, optimize for resilience, and scale performance that enables technology to be delivered “any place and any time” (see Figure 1).
Figure 1: Top Strategic Supply Chain Technology Trends for 2023
Source: Gartner (May 2023)
The 2023 top supply chain technology trends are: