Supply chain leaders focusing on inflation according to global report

High inflation is the top concern for supply chain leaders in 2023-24, according to a new global report from the Thomson Reuters Institute. The report surveyed over 175 trade professionals and found that supply chain shortages/disruption and international politics/conflicts were also top priorities. The report highlighted four main challenges faced by global trade professionals, including disruption, talent and knowledge gaps, ESG reporting, and technology usage. Companies are also struggling with increased costs, including retaliatory tariffs and new customs declarations services. However, the report noted that ESG reporting is seen as a positive development and is considered a major factor in supplier selection.

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Frequently Asked Questions

Q: What is the focus of supply chain leaders according to a global report?

A: According to a global report, supply chain leaders are focusing on inflation. [source]

Q: What is the top strategic priority for supply chain leaders in 2023-24 according to a global report?

A: The top strategic priority for supply chain leaders in 2023-24, according to a global report from the Thomson Reuters Institute, is high inflation. [source]

Q: What are supply chain leaders investing in to combat supply chain stressors?

A: To combat supply chain stressors like inflation, supply chain leaders are investing in AI and automation. [source]

Q: What are some ways to improve global supply chains according to a McKinsey report?

A: According to a McKinsey report, some ways to improve global supply chains include focusing on supply chain resilience, managing proactively, and addressing significant and long-lasting challenges. [source]

Q: What are some trends shaking up supply chains in 2023?

A: Disruptions to supply chain operations in 2023 include existing or new geopolitical conflicts, inflationary pressures, and other factors. [source]