Digital supply chains have been the central theme over the last nine MHI Annual Industry Reports. To thrive, companies are investing in the digital technologies and embracing innovation to make their supply chains faster, more efficient, more transparent, and more sustainable.
According to the newly released 2022 MHI Annual Industry Report: Evolution to Revolution, 76% of the manufacturing and supply chain professionals surveyed said that digital supply chains that are autonomous, connected, intelligent, scalable and agile will be the norm by 2026—10% say they are the norm today.
Two things driving adoption of automation, data analytics and emerging technology in supply chains are on-going disruptions and customer demands. What we expect to see over the next few years is really a revolution in the adoption of these technologies with 66% planning to invest more than $1 million and 18% planning to invest over $10 million over the next two years, up from 44% and 11% respectively over just last year.
With all this technology investment, companies are looking for innovative ways to balance the benefits of digital supply chains with the growing need for cybersecurity risk management.
This issue of MHI Solutions focuses on the top trends and technologies driving supply chain data transparency and security, the steps to implement and what these technologies will mean for future supply chains.
We have also included detailed information on MODEX 2022, which will be held March 28-31 in Atlanta, GA. MODEX is where the brightest minds in manufacturing and the supply chain will gather to learn and discuss the technologies and trends of today as well as the challenges of tomorrow.
With over 850 exhibitors, four keynotes and over 170 educational sessions, MODEX is where leading companies can find the latest information and practical advice on supply chain investments. It is also the best place to experience in-person the latest and greatest digital supply chain equipment and technology innovations.
Many of these innovations are among the submissions for the 2022 MHI Innovation Award, which are also featured in this issue. The MHI Innovation Award winners will be announced on March 30 at MODEX Industry Night.
I hope that you find this issue of MHI Solutions helpful by providing information and resources to address supply chain data transparency and security in your operations.
Chief Executive Officer, MHI