Global supply chains set for overhaul next year, poll shows

“Businesses are operating in an increasingly complex global economic landscape, navigating a wide range of challenges,” says Barry O’Byrne, chief executive of HSBC’s global commercial banking unit.

HONG KONG: More than 40% of corporate decision-makers see an urgent need to overhaul their supply chains in 2023, with inflation, higher interest rates and weaker global trade acting as some of the stiffest economic headwinds, a new survey shows.

Just 11% of respondents in the HSBC Holdings Plc survey said transforming their supply chain wasn’t a priority next year, but 42% plan to do so and almost 47% see it as a priority at some stage in the future.