Panel Gives Input on Findings from the 2024 MHI Annual Industry Report

Wednesday afternoon’s keynote gave highlights of the Annual Industry Report, titled “The Collaborative Supply Chain: Tech Driven and Human-Centric.” This survey was compiled from input from 1,700 manufacturing and supply chain industry leaders.

The keynote opened with high-level findings from the report, led by John Paxton, MHI CEO. Top supply chain challenges that the report uncovered include rising prices, the talent shortage, customer demands, insight into customer behavior, and supply chain disruptions/shortages.

Then, Wanda Johnson of Deloitte led the panel, including:

• Dr. Randy Bradley, associate professor of information systems and supply chain management at the University of Tennessee, Knoxville’s Haslam College of Business
• Matthew Hough, Chief Information Officer, Cintas
• Chaneta Sullivan, Director, Facility Development and Safety, Chick-fil-A Supply
• Archna Wunsch, Head of Global Strategy and Transformation, Cook Medical

The panel discussed the report findings, specifically focusing on generative AI, supply chain resilience and the implementation of new technology. Takeaways from the panel:

• When integrating generative AI into business operations, it is important to provide effective change management, and also reassure team members that AI will not replace them.
• New technology should be rolled out with proper implementation. Involve the employee on the front end and get the feedback of all teams prior to making a choice so their feedback can guide you. Ask employees what can be done to make it work. And if the tech isn’t working, don’t be afraid to reassess.
• Don’t always try to hit a home run with your tech immediately – implement things in phases.
• Find the right job for existing employees – if they aren’t happy in a job, find the right fit for them. If someone wants to reinvent their job, that should be something that interests you.
• To improve resiliency, proactively monitor company risks and categorize those risks, focusing on high-risk areas. Make sure your information is provided to the client so there is transparency.
• At the end of the day, business decisions start with the vision from the top. We should be really intentional about the programs we implement, and make sure the fundamentals are in place to be successful. By listening to your people and implementing their suggestions, they become a change champion.

Click here to download the report.