CEO UPDATE: The Time to Invest in Supply Chain Innovation Is Now
* By George W. Prest, Chief Executive Officer, MHI *
Investment in supply chain innovation is at a critical inflection point, with a trend of declining investment from 2015 to 2018 being more than countered by a 95% increase in projected spending for 2019, according to the 2019 MHI Annual Industry Report, “Elevating Supply Chain Digital Consciousness.”
Anyone who attended ProMat 2019 can attest to this. The energy level among visitors and exhibitors was at an all-time high as more attendees were actively seeking best-in-class solutions for their manufacturing and supply chain operations.
The technologies on display at ProMat are having a dramatic business impact on supply chains and the people who run them. They are also creating increased pressure on supply chain teams to identify, test and implement the best solutions for their operations.
The report cites five top technologies that are disrupting supply chains and creating competitive advantage:
– Robotics and Automation
– Predictive Analytics
– Artificial Intelligence
– The Internet-of-Things (IoT)
– Autonomous Vehicles & Drones
This issue of MHI Solutions focuses on the adoption of these and other digital solutions from best practices in robotics and artificial intelligence to getting your supply chain data house in order to measuring and tracking your Supply Chain Digital Consciousness Index or DCI.
While implementing digital innovations into supply chains is complex, inaction is not a strategy. In fact, as the pace of supply chain innovation escalates, so does the price of inaction. In this new digital era, leaders will outpace their competitors faster than ever before.
A great way to stay at the forefront of these innovations is to attend the 2019 MHI Annual Conference, October 13-16 in Palm Springs, CA. The conference topics mirror those of this year’s Annual Industry Report.
Attending is also a great opportunity to collaborate with solution providers while exchanging ideas with your peers on the most important issues and trends impacting our industry. See pages 67-73 for more information on this event.
I also encourage you to download the 2019 MHI Annual Industry Report at mhi.org and use it to access your Supply Chain DCI.
I hope this issue of MHI Solutions helps provide the information and resources you need to help your supply chain team make better and more informed decisions regarding the supply chain technologies available to help you compete in this new digital era.