Supply chain trends: What executive leaders expect in 2024

As the world moves forward into 2024, it’s an opportune time for supply chain professionals to continue making even more positive marks on their organizations. A number of supply chain trends were discussed in this panel discussion featuring Mary Byrne, Vice President of Supply Chain at Cardinal Health, Liz Coddington, CFO of Peloton, Gus Shahin, CIO at Flex and Professor Morgan Swink from Texas Christian University cohosted by Kinaxis Board Member, Angel Mendez and Kinaxis Chief Strategy Officer Dr. Anne Robinson.

• Mendez shared his top 10 challenges supply chains faced in 2023: COVID-19 “hangovers”; a lackluster macroeconomy; persistent inflation; higher cost of debt with higher interest rates; an increasingly complex geopolitical environment; companies attempting to move their footprints away from Asia in a “deglobalization” trend; labor tensions in certain industries; climate effects; continued emphasis on sustainability and ESG; and a “technology renaissance resting on AI.” 
• Byrne talked about how her organization’s customers and partners are seeking more predictability in supply, while the supply chain itself must remain flexible. To create more resilient and responsive supply chains, conversations about technology and transformation will be important. [00:05:15]
• Sustainability can attract younger generations to supply chain careers, addressing a key need for 2024: strong talent. Swink says students are drawn to “changing people’s lives for the better.” [00:28:37]
• Coddington believes AI presents great opportunities in 2024 Companies who figure out how to leverage their own team with machine learning/AI to improve processes, use automation in more efficient and effective ways and better forecast demand will have competitive advantages.
• In terms of advice, supply chain professionals can continue to bridge different strategies and collaborate with partners and other parts of the business, be agile “athletes” ready to respond to changes and new trends quickly. Of course, it’s then critical that they communicate well at the ELT level to influence and educate. [00:44:59]

For an in-depth discussion of these topics and several others, listen to our Big Ideas in Supply Chain podcast.

To learn more about our guest panelists on this episode, follow them on LinkedIn:

Mary Byrne

Liz Coddington

Gus Shahin

Professor Morgan Swink

 

Kinaxis is a global leader in modern supply chain management. Our software is trusted by global brands in every industry to provide the agility and predictability needed to navigate today’s volatility and disruption. For more news and information, please visit kinaxis.com or follow us on LinkedIn.