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Despite a series of disruptions over the last year-plus, 93% of supply chain leaders say that they are at least somewhat confident in their companies' resilience against future threats.
Of the 300 leaders and managers surveyed by marketing company R.R. Donnelley and Sons (RRD), 66% said that they feel "very confident" in their supply chain resilience. Another 97% said that they have plans to rework their supply chains in the next two years to strengthen them against disruptions, with 30% aiming for a "total and complete re-engineering."
“Supply chain leaders are not just adapting, they are completely transforming their approaches to secure a more stable future,” RRD president John Marrow said.
In terms of what managers are most concerned about the next one to three years, inflation and price fluctuations topped the list, followed by a shortage of human talent and domestic supply chain disruptions, each tied for a distant second. Around 77% also said that they expect the outcome of the upcoming U.S. presidential election to have an impact on global supply chains.
Leaders are looking to reduce their risk by diversifying their supply chains, with nearly 70% planning to develop new relationships with alternative suppliers. Roughly 67% said that they hope to increase sourcing from domestic suppliers, while 52% said they are targeting a dual sourcing strategy with suppliers who are "geographically dispersed."
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