7 Supply Chain Software Trends to Watch in 2023
Summary
“Companies are much less accepting of only getting a software update every couple of years,” says McCullough, who also sees more shippers playing an active role in helping to “shape” any new upgrades, features and capabilities that their vendors are working on. Citing a recent Gartner “Supply Chain Technology User Wants and Needs Survey,” Köse says that the key drivers behind these initiatives include the need to support new business/operating models (for 36% of companies), improve resiliency and agility (35%), and enhance decision making (35%). In the meantime, private equity and venture capital firms are acquiring companies in a space that’s really come up onto their radar screens as a result of the global pandemic and subsequent supply chain challenges. “Using today’s advanced software platforms, they can more effectively optimize their supply plans, realign production, explore different contract manufacturing options and work with alternate suppliers.” Companies have come to realize that what was once thought of as a “constant state of disruption” has simply become the new normal. “Being able to have a closed loop with your co-workers, customers and suppliers is extremely important,” Vervloesem adds, “because it enables you to shift gears a lot faster, versus having everyone working in silos, which can result in delayed decision making and greater risk.” Replace or upgrade?