The ASCM CONNECT 2023: North America held in Louisville, Kentucky from September 11-13, 2023 was a beacon for supply chain professionals from around the globe. The conference spotlighted the importance of crafting a strategic supply chain plan, much like a pilot’s flight plan or a builder’s blueprint, that underpins business operations.
The fast pace of change in today's supply chain landscape was acknowledged, underscoring the necessity for adaptability and quick decision-making among industry professionals. The top 10 supply chain trends for 2024, as presented by ASCM's Research, Innovation, and Sensing Committee, offered a comprehensive overview of the challenges and opportunities ahead. These trends spanned from digital transformation and big data analytics to AI integration and supply chain visibility. Changing priorities and emerging trends are shaping the future of supply chains.
Here are ASCM’s Supply Chain Trends for 2024:
- Digital Supply Chain: Topping the list, digital supply chain management takes the lead as organizations increasingly leverage technology for enhanced efficiency and transparency.
- Big Data and Analytics: While still crucial, big data and analytics have slipped to the second position, indicating a growing awareness of the need for a strong technological infrastructure.
- Artificial Intelligence (AI): AI's role in optimizing supply chain operations is on the rise, highlighting its importance in decision-making processes.
- Supply Chain Investments: Organizations are dedicating resources to both systems and workforce development, recognizing the critical role of skilled professionals in supply chain management.
- Visibility and Traceability: Achieving end-to-end visibility and traceability in supply chains continues to be a priority to enhance accountability and responsiveness.
- Disruption and Risk Management: Although it's no longer in the top five, disruption and risk management remain significant concerns, emphasizing the need for robust contingency planning.
- Agility and Resilience: A new addition to the list, agility and resilience are gaining attention as companies seek ways to adapt to evolving market conditions.
- Cybersecurity: Despite falling two spots, cybersecurity remains a vital aspect of supply chain management to protect sensitive data and operations.
- Green and Circular Supply Chains: Sustainability efforts are driving discussions, with companies navigating the challenges of implementing environmentally responsible practices.
- Geopolitical and Deglobalization of Supply Chains: Geopolitical factors and shifts in global trade dynamics are reshaping supply chain strategies, prompting a closer look at localized sourcing.
The landscape of supply chain management is evolving, with technology taking center stage in 2024. As digital supply chain management claims the top spot, other trends like AI, investment in supply chain capabilities, and enhanced visibility are also gaining prominence. Disruption and risk management remain on the radar, but new considerations like agility, resilience, and sustainability are reshaping the priorities of supply chain practitioners. In this dynamic environment, staying ahead requires a holistic approach that embraces technology, adaptability, and a strong commitment to sustainable practices. These trends will undoubtedly shape the future of supply chain management over the next several years.
Our upcoming ASCM SCOR Model Workshop (SCOR DS) in Munich offers an excellent opportunity for supply chain professionals and enthusiasts to delve deeper into several of the top 10 supply chain trends and connect it to the leading supply chain management framework. It offers practical insights and strategies for addressing contemporary challenges while optimizing supply chain operations. Join us from December 5-7, 2023 in Munich!
