Faced with skills shortages and growing demands for change from workers, customers and investors, the need to acquire technologies that will transform the entire value chain has become more urgent than ever.
According to KPMG's Global manufacturing prospects 2022 survey, if companies are to restructure successfully, the entire executive suite must lead with a clear vision of where they want to go and how to take the company there.
Amid a period of transformative industrial change, the main lesson to be drawn from the CEO survey is an evergreen theme that is more urgent than ever: companies shift attention away from their supply chains at their peril. Operational effectiveness cannot be achieved without a resilient supply chain. This report’s analysis of top executive opinion strongly supports the view that a healthy supply chain is likely to support a healthy manufacturer.
The combination of a pandemic and climate change is accelerating digital transformation, as companies search for tools to mitigate new risks and maximize new opportunities.
The survey suggests that CEOs may not yet have grasped that the goals of digital transformation and ESG are both consistent and work powerfully together.
Digitization can mitigate supply chain risk and enhance sustainability, but CEOs need to see ESG as a strategic imperative not simply a means to an end. They won’t likely have a healthy supply chain if they don’t focus on ESG, and without a healthy supply chain, there is potential for increased struggle to meet their long-term goals.
You may find out more in KPMG's Global manufacturing prospects 2022 survey.
