Disrupted global supply chains continue to impact B2B commerce negatively, and few suppliers are tied into automated supply chain processes that could help deal with that disruption, a recently published study says.
The 2022 State of the Supply Chain Report, released this month, notes that more than 80% of suppliers say they lack access to fully automated systems for processing invoices or requests for proposals submitted by either existing buyers or potential customers. At the same time, however, 43% of suppliers cite the management of RFPs and invoices — crucial steps for landing new business and maintaining cash flow — as the processes offering the most benefits through automation.
“A lack of widespread automation on the supply side is creating inefficiencies that could stall broader progress and inhibit suppliers’ growth and performance,” says Georg Roesch, vice president of direct procurement strategy at Jaggaer, which released the study. “True supply chain transformation requires a fully digitalized and frictionless commerce experience for both buyers and suppliers.” Jaggaer is a provider of online procurement technology.
Jaggaer says the report had 47 respondents for its survey throughout the months of May and June. It describes the research project as “a pulse survey that provides a quick look and insights into the supplier market.”
The Jaggaer study also found:
- 73% of suppliers say that shortages of products and materials are having a major impact on their business. Other top challenges including inflation which 69% cited, strained production capacity (53%) and geopolitical risks (50%).
- 59% of suppliers cite having a central commerce hub providing access to buyers as vital to improving business. Benchmarking data for competitive comparisons (57%) follows, and then automated workflows to improve collaboration (48%).
Sign up for a complimentary subscription to Digital Commerce 360 B2B News, published 4x/week. It covers technology and business trends in the growing B2B ecommerce industry. Contact editor Paul Demery at [email protected] and follow him on Twitter @pdemery.
Follow us on LinkedIn and be the first to know when new Digital Commerce 360 B2B News content is published.Favorite