Survey reveals 2023 agenda items for ANZ supply chain leaders: Prological

Re-shoring, strategic hiring and sustainability are the 2023 agenda items for Australia and New Zealand’s top supply chain professionals, a new survey from Prological has revealed.

The supply chain and logistics consultancy has released findings from its inaugural survey, uncovering trends and future predictions from supply chain, property and manufacturing experts across Australia and New Zealand.

The Prological Supply Chain Pulse Check Survey 2023 brings views from over 250 senior professionals in supply chain, logistics, manufacturing, retail, property and operations, exploring their sentiments on supply chain uncertainty, sustainability, visibility, human capital and future economic outlooks.

The report also uncovered strategies and investments top companies are using to thrive in a post-covid world.

Visibility is more important than ever

Peter Jones, Managing Director and Founder at Prological said, that as the supply chain becomes a critical focus for the c-suite, visibility is more important than ever before.

“Leveraging technology and real-time metrics remains key on the growth agenda, for both a customer and business perspective,” Jones said.

According to the report, 77 per cent of businesses intend to increase investment in supply chain and freight operations this year.

The survey also found that 72 per cent of organisations are considering upgrading Warehouse Management Systems (WMSs), Transport Management Systems (TMSs), or Freight Management Systems (FMSs) in 2023

Prioritising re-shoring in a turbulent economy

In terms of economic outlook, leaders in the sector expect the economic climate to worsen in 2023, with only 15 per cent of respondents expecting improvement in 2023.

Despite this, Prological said a more positive outlook is expected for supply chain uncertainty as we move through the year.

In response to geo-political turbulence, inventory shortages and transport disruptions, the findings showed approaches to re-shoring, strategic employment, technology upgrades and ESG compliance.

Practical decisions around expansion, reshoring or relocation are also a top priority, especially for companies in the manufacturing, freight forwarding and distribution space.

Prological said 64 per cent of businesses surveyed expect to move or expand warehouses to accommodate growth.

Sustainability no longer a ‘nice-to-have’

The report also highlighted the strong focus on sustainability, which remains a top priority across the sector.

82 per cent of respondents stated their ambitions to reduce carbon emissions from transport in 2023, while 67 per cent of respondents reported increased pressure from investors, suppliers and customers to improve their sustainability agenda this year.

The Great Resignation

Another key finding of the survey is the continual challenge of human capital.

Companies surveyed said that staff shortages remain their number one challenge, more so than equipment delays, changes in consumer demand, scarcity of industrial land and supplier relationships.

‘The Great Resignation’ is entrenched in the sector, with professionals facing burnout, fatigue and skills shortages.

As a result, 78 per cent of businesses are intending to increase capabilities through strategic employment.

The Prological Supply Chain Pulse Check 2023 reveals companies are taking a long view to create future readiness. Particularly in the construction and FMCG industries, companies are investing heavily in technology as well as strategic employment, to remain competitive and agile.

“It is clear businesses have seen the importance of a strong supply chain, a learning for many that came through recent supply chain failures,” Jones said.

“In response, evidenced by the survey results, we are seeing rapid upgrades in supply chain capability and investment in preparing for the next year and next period of growth,” he concluded.