The pandemic remains a major area of concern, along with deteriorating economic conditions. Inflation will continue to increase costs, with oil, fuel and labor costs rising sharply. There is also concern about rising interest rates’ effects on consumer spending.
Executives are also worried about a resurgence of the COVID virus as either localized outbreaks or in the form of a new variant. While supply-chain concerns persist, largely as a result of Chinese lockdowns and Russia’s invasion of Ukraine, executives are more positive than in 2021, when confidence in the timeliness and quality of supply chains fell to an all-time low. The vast majority of executives, (90%) expect that their supply chain operations will meet or exceed their expectations within the next 12 months.