No longer the bridesmaid, but the bride. This age-old English adage best sums up how the supply chain function has metamorphosed from a back-end function, noticed only in times of disruption, to a competitive differentiator empowering enterprises running the gamut of industry.
Digital transformation has positively impacted all industries, with transport & logistics increasingly being led by tech- & data-driven business models that are minimising the gap between business & consumer. As an industry that sensitively responds to economic perturbations, today’s interconnected global economy has rendered the supply chain industry susceptible to macroeconomic uncertainties.
From an Indian standpoint, it is an economy in possession of an enviable quartet of qualities: It has a competitive advantage brought on by its demographic dividend; it boasts of a robust demand that is patent in its bourgeoning middle class, which is forecasted to have the second-largest share in global consumption at 17% by 2030; its government has promulgated conducive policy support measures that endeavour to transition India into an unprecedented global manufacturing hub; and finally, a concerted effort in loosening of the national budget’s metaphorical purse strings is powering the promotion of electronics, IT Hardware, hybrid & electronic vehicles.
It is indeed Advantage India as we piece together its economic jigsaw, however with a few caveats: an obsolescent infrastructure network in need of upgradation, and more recently & equally as importantly, legacy supply chain strategies that are responsible for the rise in the nation’s carbon footprint on account of rising fuel, electricity & manufacturing consumption. As we come to terms with a health hazard of global proportions and geopolitical disquiet in the West, it is incumbent that we adopt pre-emptive & proactive sustainable strategies to build durability & resilience in supply chains to combat the vagaries of economic activity.
In the past few years, major tectonic shifts have changed the dynamics of business, demanding that companies reconfigure their supply chains. A cyclically-resurgent pandemic coupled with recent volatility in geopolitics have thrown a spanner in the works for global markets, thus disrupting global supply chains entirely. eCommerce businesses with omnichannel marketing strategies and the rise of DTC brands espousing online retailing & home delivery have benefitted, albeit unintendedly, by the pandemic, with on-demand consumer needs fuelling an evolution of supply chains tailorable to meet rising demands of the retail client.
While cost reduction & operations optimisation will remain important considerations for companies in times to come, in the age of ease & convenience, with the rise of online commerce challenging the brick-and-mortar space aggressively, a seamless consumer experience has taken the pride of place in the design & implementation of an optimised supply chain lifecycle.
The BW Supply Chain Resilience Conference is a 2-day thought leadership initiative that looks at how the supply chain agenda has risen through the ranks in importance for private enterprise, transitioning from the backroom to the boardroom. Examining how digital transformation brings a keen lens to the dispatch to delivery experience, the proceedings provide a bird’s-eye view of supply chain optimisation from the prism of cutting-edge technologies.
Day I delves into the hows & whys of building supply chain resilience, viewed in the aftermath of ongoing & unpredictable global uncertainties. The proceedings also bring out why a robust supply chain ecosystem is a non-negotiable imperative as corporates learn to grapple with the vagaries of today’s global economy. The day ends with a peek at the work cutting-edge startups are doing in the supply chain space, the disruptive technologies that are redefining the freight carriage experience.
Moving forward, Day II is a deep dive into the role of new-age technology and how it has turbocharged the delivery fulfilment lifecycle experience. As a showcase of innovation, the proceedings discuss one of many themes i.e. visibility across the supply chain ecosystem – role of IoT; how predictive analytics empower informed decision-making; trust & transparency through location technologies & blockchain; building efficiencies in transport of goods through TMS; safety, security & warehouse management through autonomous tech; greater accountability in the dispatch to delivery lifecycle through Cloud Computing & SaaS; last-mile connectivity through drone tech; impact of printing technologies in enhancing TAT, inventory & space management; maximisation of the consumer experience; amongst other relevant themes.
Join us as Businessworld launches the inaugural BW Businessworld Supply Chain Resilience Summit & Awards – a 2-day thought leadership initiative on supply chain optimisation.