**London**: A recent study by Descartes Systems Group reveals that 74% of logistics leaders view technology as crucial for organisational growth amidst supply chain disruptions. The research highlights global trade intelligence as a key priority for companies aiming to gain a competitive edge in international trade.
Descartes Systems Group has released findings from a comprehensive study examining the strategies of companies addressing escalating global supply chain challenges. The study highlights that a significant 74% of supply chain and logistics leaders deem technology as fundamental or highly important to their organisation’s growth strategy amidst rising global trade issues, including tariffs, trade barriers, and geopolitical instability. This perception is even more pronounced among companies forecasting over 15% growth over the next two years, with 88% recognising technology’s critical role in their plans.
Additionally, 59% of the surveyed leaders consider technology vital for gaining a competitive edge in international trade. These insights emerge as companies navigate the complexities of modern global commerce, demonstrating an eagerness to adopt innovative technological solutions.
Key capabilities identified as essential for facilitating business growth and delivering competitive advantages over the next two years include global trade intelligence (36%), global trade analytics (27%), and supply chain mapping (26%). These priorities align across various sectors, with global trade intelligence singled out as the most crucial technology capability by respondents from manufacturing (40%), wholesale and distribution (44%), finance and insurance (38%), and retail (30%).
Jackson Wood, Director of Industry Strategy at Descartes, commented on the evolving landscape of global trade. He stated, “For companies in diverse industries, global trade has become much more complex, with many new challenges to traditional business operations. As businesses contend with tariffs and trade barriers, geopolitical instability, supply chain disruptions and compliance requirements, technology tools can help them build greater agility and resilience into their supply chains to compete more effectively.”
The findings originate from a survey conducted by Descartes and SAPIO Research, which gathered responses from 978 supply chain intelligence leaders across key trading nations in Europe, North and South America, and Asia-Pacific. The research aimed to elucidate the technologies and strategies employed by these companies in their pursuit of competitive advantages, while also highlighting how these strategies may differ based on various factors, such as country, industry, company size, and anticipated business growth.
For further details, the study titled “What Companies are Doing to Tackle Escalating Global Supply Chain Challenges” provides in-depth insights into the critical role of technology in contemporary supply chain management.
Source: Noah Wire Services
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