The Supply Chain Buzz for January 22nd with Scott W. Luton and Greg White
Jan 26, 2024
auto_awesome
In this podcast, the hosts discuss the top concerns for CEOs in 2024, experiential food and beverage trends, and consumer product shortages. They also cover EV news from Ford and the impact of AI on jobs. Additionally, they talk about challenges in the electric vehicle market and express gratitude to the audience.
CEOs prioritize economic recessions and inflation as their top external concerns, while attracting and retaining talent is their top internal priority.
Spice and heat are predicted to be popular trends in the food and beverage industry in 2024, with a push for seamless integration between in-store and online grocery buying experiences to reduce supply chain friction.
Deep dives
CEOs prioritize short-term profit growth through innovation and new products
According to a survey by the Conference Board, the top two external concerns for CEOs are economic recessions and inflation. The top priority for short-term profit growth is introducing new products and services. Other strategies include increasing sales through marketing, entering new markets, and investing in technology. For longer-term revenue growth, CEOs focus on investing in innovation, new lines of business, and digital transformation including AI. Attracting and retaining talent is the top internal priority for both US and global CEOs.
Food and beverage industry sees a shift towards innovation and flavor trends
The pandemic led to a focus on core products in the food and beverage industry. However, innovation is now making a comeback as companies look to introduce new products and flavors. Spice and heat are expected to be popular trends in 2024, with many brands infusing their products with spicy flavors. Additionally, there is a push for a seamless integration between in-store and online grocery buying experiences to reduce supply chain and omnichannel friction.
Shortages continue to impact various industries, including pharmaceuticals and battery minerals
Shortages of pharmaceuticals and medical supplies, as well as agricultural commodities, are ongoing concerns. The global demand for lithium has tripled between 2017 and 2022, with cobalt demand rising by 70%. Climate change and geopolitical factors also contribute to shortages. Additionally, there is a shortage of essential electrical power grid components like transformers, leading to delays and higher costs in construction projects.
Electric vehicle sales growth slows due to range concerns and limited charging infrastructure
While over 1.2 million electric vehicles were sold in the US in 2023, the rate of growth has slowed. Range concerns and a limited charging network, especially outside of California, impact consumer adoption. Automakers like Ford, General Motors, and Volkswagen, are cutting back production plans and investments in EVs. The availability of charging infrastructure and addressing range issues are crucial for further growth and acceptance of electric vehicles.
Shortages in 2024: Pharmaceuticals, Medical Supplies, Agricultural Commodities, Battery Minerals, Climate Change, Geopolitical Drive, and Electrical Power Grid Components
The Buzz is Supply Chain Now’s regular Monday livestream, held at 12 noon ET each week. This show focuses on some of the leading stories from global supply chain and global business, always with special guests – the most important of which is the live audience!
In this week's episode of The Buzz, hosts Scott Luton and Greg White discuss some of the top news stories and trends in supply chain and industry today. Listen in and learn more about:
The top concerns for US and Global CEOs as we go into 2024
The extra-spicy experiential food & beverage trends for 2024
What consumer product shortages will shoppers notice on (empty) shelves?
EV news from Ford, and if they're meeting their ambitious sales expectations
This episode is hosted by Scott Luton and Greg White. For additional information, please visit our dedicated show page at: https://supplychainnow.com/supply-chain-buzz-1227
Get the Snipd podcast app
Unlock the knowledge in podcasts with the podcast player of the future.
AI-powered podcast player
Listen to all your favourite podcasts with AI-powered features
Discover highlights
Listen to the best highlights from the podcasts you love and dive into the full episode
Save any moment
Hear something you like? Tap your headphones to save it with AI-generated key takeaways
Share & Export
Send highlights to Twitter, WhatsApp or export them to Notion, Readwise & more
AI-powered podcast player
Listen to all your favourite podcasts with AI-powered features
Discover highlights
Listen to the best highlights from the podcasts you love and dive into the full episode