KPMG convened a cross-industry group of chief supply chain officers (CSCOs) to discuss key trends in the evolving supply-chain landscape: disruption and volatility; inflation; labor competition; and attention on environmental, social, and governance (ESG).
Key takeaways
Participants identified potential strategies for dealing with universal challenges facing supply-chain functions across industries and geographies.
- To deal with supply chain disruption, supplychain leaders are investing in operational optimization.
Facing hoarding, transportation bottlenecks, labor shortages, and other constraints, companies are doubling down on prepandemic supply-chain transformation activities such as accelerating digital tools and processes. - Analytical and prediction capabilities can help companies better manage supply-chain costs.
In 2021, U.S. consumer inflation surged to its highest rate in nearly 40 years1. Deeper data insights will be needed to parse out transitory increases from permanent ones and make strategic procurement decisions. - Promoting values and culture, enhancing employee experience, and embracing new technologies and ways of working can help companies compete for talent.
Labor shortages are a key contributing factor to today’s biggest supply-chain challenges and supply-chain leaders worry that vaccine mandates could spur more employee turnover. - Ensuring supply-chain operations have a positive impact should be a top agenda item going forward.
Stakeholder scrutiny on nonfinancial effects of business has increased throughout the pandemic, expanding beyond environmental and sustainability concerns to include social factors like workplace equity and inclusion, factory conditions, and human rights, participants said.
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