Across the manufacturing and service sectors the largest percentage of companies, 38%, use 45-day payment terms. Meanwhile 36% use 30-day terms, 1% use 75-day terms and 11% use 90-day terms.

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Top skills and capabilities needed in 2023 for Supply Management Centers of Excellence (SM COE) employees include problem solving, supply management experience, and cooperation.

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Over the past 4 years, the percentage of Supply Management Centers of Excellence (SM COE) in Discrete Manufacturing has decreased, while increasing in Process Manufacturing and Service Sectors.

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On average, 71% of companies surveyed provide monthly updates for net cost reporting, while 35% update quarterly and 12% update annually.

In 2023, the top 3 reasons companies create and use Supply Management Centers of Excellence (SM COE) are to drive standardization, best practices, and skill building.

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The Changing Landscape of Supply Chain: Supplier Risk, Transportation, Center of Excellence, Net Cost Reporting, and AI Replacing Supply Chain Jobs