Digital transformation is taking place in the B2B payments industry, a move that can contribute significantly to improved supply chain efficiency.

PPG, LyondellBasell, Fluence Energy and Viatris were some of the first companies to disclose their supply chain financing data under the FASB's new rule.

The median salary for U.S.-based supply chain professionals rose to $98,570 in 2022, a 3% increase when compared to 2021.

The addition of automation with human oversight will allow for a more frictionless process for all parties involved in the supply chain, including truckers. 

Buyers and suppliers are forced to pivot in response to changes in inflation, interest rates and the general economic climate. And the balance of power between the two shifts accordingly.

The survey found that 66% of businesses made proactive investments in supply chain technology in 2022, a 26% year-over-year increase compared to 2021. 

Oracle's newly launched update for its Oracle Fusion Cloud Application Suite will help customers with supply chain planning, operational efficiency and financial accuracy.

The report also found that global transportation costs have fallen below their long-term average thanks to lessening pressures on shipping, rail, air and road freight. 

Late payments also add to the financial pressures impacting suppliers, with 42% saying they expect to face increased borrowing costs over the next 12 months.