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.

A report from Anvyl found 60% of small and mid-sized businesses reported losses of up to 15% or more in revenue due to supply chain delays.

2023 will continue to present supply chain organizations with an imperative to analyze, predict and resolve issues before they arise.

Interruptions aren’t merely annoying — they’re the bane of workplace productivity.

The conversation we’re having today about supply chain finance is a lot different than that of just a few years ago.

Organizations lose between 3% and 4% of their total external spending due to high transaction costs, inefficiencies and non-compliance in the source-to-pay cycle.