One important lesson learned from the pandemic was the need to address the fragility of global supply chains. To mitigate the risk of future disruption, it’s become clear that firms need to automate and invest in technology to keep up.
According to the newly released 2023 MHI Annual Industry Report: The Responsible Supply Chain, 86% of the manufacturing and supply chain professionals surveyed said that digital supply chains that are autonomous, connected, intelligent and agile will be the norm by 2027—5% say they are the norm today.
The report also predicts a strong uptick in the adoption of these technologies, with 90% planning to invest more than $1 million and 38% planning to invest over $10 million over the next two years, up from 66% and 19% respectively over just last year.
This issue of MHI Solutions highlights the top trends and technologies driving this necessary supply chain resiliency focus. These solutions not only include automation and robotics but also tools that enable more powerful uses of data such as artificial intelligence and machine learning.
We are also including detailed information on ProMat 2023, which will be held March 20-23 in Chicago, IL. ProMat is where the brightest minds in manufacturing and the supply chain will gather to learn and discuss these leading technologies and trends, as well as the challenges and opportunities that the future will bring.
With over 1,000 exhibitors, four keynotes and over 150 educational sessions, ProMat is where leading companies can find the latest information and practical advice on supply chain investments. It is also the best place to experience, see and touch the latest and greatest supply chain equipment and technology innovations.
Many of these innovations are among the submissions for the 2023 MHI Innovation Award, which are also featured in this issue. This annual award recognizes the best of the latest technology and innovations in our field. The MHI Innovation Award winners will be announced on March 22 at ProMat Industry Night.
I hope that you find this issue of MHI Solutions helpful by providing information and resources as you continuously invest in your supply chain’s performance.
Chief Executive Officer, MHI