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Share Name | Share Symbol | Market | Type |
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Impinj Inc | NASDAQ:PI | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
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2.52 | 1.72% | 148.66 | 138.00 | 162.00 | 148.76 | 145.21 | 147.67 | 127,979 | 22:00:00 |
Findings highlight the need for data accuracy to bolster supply chain integrity and the use of AI in the year ahead
Impinj, Inc. (NASDAQ: PI), a leading RAIN RFID provider and Internet of Things pioneer, today announced findings from its new Supply Chain Integrity Outlook 2025 research report. Based on a survey of 1,000 US supply chain managers, the report reveals a data accuracy gap that leaves many struggling to find the level of insights, visibility, and accuracy required to drive confidence in their supply chain and respond quickly to market changes. While the majority (91%) of supply chain managers believe they are equipped to drive accurate supply chain visibility, the reality is that only a third (33%) consistently obtain accurate, real-time inventory data. The report’s findings show how the supply chain data accuracy gap hinders supply chain managers’ ability to address key challenges, including counterfeit goods, shrink and theft, misload and delivery errors, meeting sustainability requirements, and effectively implementing AI within their organization’s supply chain.
The report also reveals over half (52%) of supply chain managers face challenges responding to rapid peaks in customer demand driven by social media- and influencer-driven trends. Nearly half (47%) of supply chain managers also report that changes in customer demand due to growth in social media storefronts (49%) and the rise of the thrift movement (47%) are among the top challenges for their organization’s supply chain.
Supply chain managers prioritize tackling counterfeits, preventing shrink and loss, and reducing misloads and delivery errors
The report highlights the most significant supply chain integrity challenges and priorities for supply chain leaders within various sectors, including:
Data inaccuracy fuels challenges implementing AI effectively in the supply chain
The barriers supply chain leaders face in achieving real-time inventory insights, visibility, and accuracy are also impacting their ability to effectively implement AI within the supply chain. Effective AI strategies are built on accurate data, yet the report reveals that data accuracy is the top challenge supply chain managers face (43%) in effectively implementing AI to improve their organization’s supply chain, alongside data availability (39%) and access to real-time data (36%). Overcoming these challenges will be essential for unlocking the full potential of AI across supply chain networks.
“Supply chain managers continue to face data blind spots that prevent them from ensuring secure, reliable, and adaptable supply chains,” said Impinj Chief Revenue Officer Jeff Dossett. “It’s essential that organizations address the data accuracy gap by putting technology in place to surface accurate data that fuels the real-time, actionable insights and visibility needed to ensure supply chain resilience.”
Implementing effective strategies to improve supply chain sustainability is both a focus and a challenge
The pressure to reduce the environmental impact of their operations continues to be one of the biggest challenges faced by supply chain managers. Over a quarter (27%) report continued issues reducing the environmental impact of their organization’s supply chain, and 25% cite challenges in meeting more stringent ESG regulations, such as the European Union’s Digital Product Passport (DPP) and Corporate Sustainability Reporting Directive (CSRD).
Across sectors, supply chain managers report the top ways their organizations are implementing strategies to improve sustainability include improving the measurement of their sustainability efforts (52%), improving last-mile delivery efficiency (44%), reducing waste (41%), and implementing recycling initiatives (40%).
About the survey
1,000 US supply chain professionals (director level and above) across retail; food, grocery and restaurant; transportation and logistics; and other sectors were surveyed in August 2024 with questions designed to assess the state of supply chain integrity in 2025.
Supply chain integrity refers to the reliability, security, and accuracy of all elements within the supply chain, ensuring that products and services are delivered as intended without disruption, tampering, or counterfeiting.
Download the full Supply Chain Integrity Outlook 2025 report here.
About Impinj
Impinj (NASDAQ: PI) helps businesses and people analyze, optimize, and innovate by wirelessly connecting billions of everyday things — such as apparel, automobile parts, luggage, and shipments — to the Internet. The Impinj platform uses RAIN RFID to deliver timely data about these everyday things to business and consumer applications, enabling a boundless Internet of Things. www.impinj.com
Impinj is a registered trademark of Impinj, Inc. All other trademarks are the property of their owners.
View source version on businesswire.com: https://www.businesswire.com/news/home/20241211654085/en/
Media Relations Jill West Vice President, Strategic Communications +1 206-834-1110 jwest@impinj.com
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