For many global firms, the accumulation of risks is amplified by the structural realignment of supply chains in this era of “slowbalization,” a period of slowing international economic exchanges and a shift away from rapid globalization towards more localized or regionalized economic activities.

Read about key operational and geopolitical risks, effective mitigation strategies, and organizational preparedness levels.

The top 3 technologies used to manage inventory accuracy are ERP/Accounting Software, Barcode Scanners, and Warehouse Management Systems, according to the recent Metrics of Inventory Management report. Inventory accuracy gives you actionable insights into your stock levels and helps you make smarter business decisions.

When adopting a new technology tool, 62% of companies indicated they have a well-established and mature strategy for the pre-adoption stage, and 64% have a mature strategy for the deployment stage. Companies with a mature post-deployment strategy drop substantially to 39%. Without a strong strategy in all stages companies will likely experience integration challenges and decreased ROI over time.

Explore the latest CAPS research on procurement risks, discover our new website feature, learn why U.S. companies are boosting inventory levels, and register for the upcoming "Experimentation and Supply Management" webinar.

The top challenges facing CPOs is shortage of people and/or necessary skills, followed by outdated processes and technology, and lack of “smart data” to drive decision making. Solutions to these challenges are critical for effective operations and decision-making.

Catch up on new CAPS Research, including Current and Future Risks in Procurement, New Quick Facts, Understanding Supply Chain Cybersecurity Vulnerabilities, and register for the upcoming webinar "Experimentation and Supply Management".

According to the CAPS MoSM Report, only 1.9% of the total headcount across all industries are supply management employees. The number has remained relatively flat the last five years, while the scope and expectations of the function have grown in contrast to other corporate functions. Some have used this metric (along with CAPS’ ROI) to justify an investment in headcount.

Read About: Priorities and Challenges of the CPO/CSCO, The Talent Skills Gap, Supply Chain Woes, and our upcoming webinar, Experimentation and Supply Management. 

A recent quick poll of supply management leaders revealed the top talent skill gaps. 50% reported the top technical skill gap was demand planning and forecasting, while 67% said the top qualitative skill gap was strategic perspective. Improving skills equates to improving profitability since teams with above median performance deliver greater ROI (Cost reduction/salary expense). 

Read About: Sustainable Purchasing Roadmap, CPO Insights- Talent Skills Gap, Latest Quick Poll about Reporting Cost Reduction, ESG Integration Drivers