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ET SCM Summit: Industry players discuss ways to navigate disruptions in 2022 and beyond

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The supply chain management or the SCM industry is experiencing significant changes in its operations, efficiency, and position in the value chain of the global economy as a result of technological innovation and growing digitalization.

Held on 24th June, the 9th Edition of The Economic Times Supply Chain Management & Logistics Summit 2022 provided key insights about supply chain agility, regulations, supply risk management, work automation, technological development, and other topics. Even though disruptions continue, supply chain sector is recovering slowly. Yet, the level of resiliency in the sector only seems to be increasing with the increased digital inclusion and cloud technology to assist the supply chain needs of firms.

The event saw industry players from across the spectrum, ranging from oil and gas to cloud service providers.

“The major trends of supply chain include climate change and de-globalisation, increased digitisation with the increase to meet consumers’ demand. There is a demographic decline, with declining workforce. Supply chain needs to be resilient as well.”

Vikash Agarwal, Managing Director – South Asia, A.P. Moller, Maersk

To give a view on the new supply chain leader, Sumit Sharma, Co-Founder, GoBOLT says, “A supply chain leader’s main business concerns include the problem of slow technology adoption. Demand forecasting utilising AI and ML, logistics planning, and routing are a few of the solutions of supply chain 4.0. We can accomplish customer centricity and supply chain integration by automating the supply chain with high technology adoption.”

Digital service providers have significantly fostered great supply chain synchrony across sectors. To give us a further view into these aspects, Abhinav Singh, Director – India Customer Fulfilment, Supply Chain and Global Specialty Fulfilment, Amazon says, “At Amazon, which is a tech-driven firm, every little detail such as consumer demand, product shipment, inventory locations, and cost assessments, serves to demonstrate reliability in the supply chain journey.”

Anindya Bhattacharya, Industry Solutions Lead for India Business, AWS India explains, “How
AWS operates begins with network visibility, prognosis root cause analysis, fulfilment insight,
and the question of whether I can fulfil the needs. Prior to the remedy, consider the underlying
problem.”

While digital aspects were attaining seamless transport of goods, the petroleum industry worked in tandem with the supply chain providers as well. Atul Gupta, Executive Director, Indian Oil avers, “80,000 tonnes of food is sourced to ports through pipelines that are deemed to be the most climate-friendly option. There is an immense potential to control emissions and become pollution free.

The automobile and highway authority shared their opinions on the rise in environmentally friendly techniques employed and the new transportation initiatives. Ram Kuppuswamy, Chief Procurement and Supply Chain Officer, Hero MotoCorp, “The current imperative is to create environmentally friendly products, and for manufacturing, this means using facilities with net-zero targets. Similar objectives and sustainable practises are shared by our partners.”

“We anticipate that an intermodal station will help economic corridors by enhancing transportation infrastructure. This will be immediately connected to highways for simple freight transfers, regardless of major and minor cargo sizes. For the sake of nation’s welfare, the ministry may include the private sector.”

Prakash Gaur, Chief Executive Officer, NHLML, NHAI, Ministry of Road Transport and Highways stated

Ajay Kumar Bansal, Director (Traffic and Logistics), Inland Waterways Authority of India, Ministry of Ports, Shipping and Waterways explains, “Key interventions have been undertaken for development of inland waterways such as fairways development navigational aids, terminal development, other riverine structures. There are still challenges including lack of awareness, lack of adequate skill, shortage of IWT vessels, and integration with coastal fairway development.”

“The move from costs and efficiency to customer experience and revenue in the post-pandemic world has had a significant impact. Companies now have to concentrate on realtime demand in the post-pandemic era. The end-to-end supply chain platform for carrier procurement, visibility, and payment is being digitalized.”

Parvesh Ghai, Chief Revenue Officer – Pando Corp, Asia Pacific and Middle East Region

With efficiencies in place, there is no doubt an increase in the number of initiatives in supply chain for the current decade.  

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