Seven in 10 supply chain leaders see technology as key to growth amidst trade challenges
Global Trade Intelligence and Global Trade Analytics are top technologies poised to deliver business value.
Seventy-four percent (74%) of the supply chain and logistics leaders surveyed consider technology as fundamental to their organisation’s growth strategy amidst rising global trade challenges, such as tariffs and trade barriers, supply chain disruptions and geopolitical instability, according to Descartes Systems Group’s study.
This number jumps to 88% for companies expecting greater than 15% growth over the next two years.
In addition, 59% consider technology as extremely or very important for gaining a competitive advantage in international trade.
When evaluating the technological capabilities that can enable business growth and provide a competitive advantage, 36% cited global trade intelligence as the top capability required to deliver the greatest value in the next two years.
This was followed by global trade analytics (27%), supply chain mapping (26%), environmental, social, and governance compliance (25%), export classification and controls (23%), favourable trade agreement assessment (18%), foreign trade zone management (16%), trade lane analysis (16%), export licensing of controlled goods (16%), and reputational risk management (15%).
Moreover, the results also showed that respondents across all industries agreed that global trade intelligence was the top technology capability expected to deliver the greatest value over the next two years.
This includes sectors like manufacturing (40%), wholesale and distribution (44%), finance and insurance (38%), and retail (30%).
Amongst supply chain intelligence decision-makers, 27% rated enhanced supply chain flexibility or resilience as the main business return used to measure the success of technology investments. At 25%, revenue growth came in a close second.
