Supply chain professionals are in the limelight in 2024, but not for the reasons many may think. A recent survey from Boston Consulting Group found that 65% of executives are prioritizing supply chain and manufacturing costs as the biggest levers for organizations to pull for cost savings. This trumps traditional cost-reduction areas such as labor and nonlabor overhead costs (cited by 52%).
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“Lingering uncertainty, the need to reshape operations for the future, and disruptive technologies (such as generative AI) are motivating leaders to put cost management at the top of the to-do list,” the report indicated.
BCG surveyed over 600 global executives across various industries for its report, “The CEO’s Guide to Costs and Growth.”