Data Plays A Pivotal Role Across All Sectors, Say Experts
Data is crucial and plays a pivotal role across all sectors, including the supply chain, discussed experts. The essential role of data and information inefficiently leading the supply chain industry. "We are trying to keep our basics straight as we try to cut the time and reach the farthest corner of the country. We also try to educate our customers about where the supplies are coming from, also about the quality of the product and everything a customer needs to know about the product, our primary task is to connect our ardent suppliers as well as customers on the same platform," said Hitesh Madaan, Head - Supply Chain Management, Daikin Airconditioning India.
While sharing some numbers, Shonik Goyal, Head of Supply Chain at Sheela Foam - Sleep Well, simplified the supply chain and said, "I would try to divide the supply chain into two parts: one before Covid and another after Covid. As Covid has made each one of us impatient, customers keep tracking anything they order, putting a lot of pressure on the supply chain. Mattresses are quite voluminous products, and it is quite difficult for us to transport them. Still, if we go by data, we deliver 74 per cent of our material in 24 hours. That is the commitment we have for our customers, ensuring India sleeps well. Our data teams work 24 hours to bring us useful data, allowing us to strategize and analyse the market comfortably. Similarly, the country is divided for us into 2500 micro markets."
India is a tricky market; in fact, it is more of a direct-to-customers rather than business-to-customers, said Dipayan Gupta, Head of CX & E-Commerce Operations at Sangeetha Mobiles. He also added, "I understand how important it is for companies to deliver on time. That's why companies try to connect their last-mile customers to the manufacturers. From my perspective, it is always about the datasets, creating hyper-personalisation and adding those small value additions so that customers can know exactly how much time the material would reach. It will also minimize the chances of delayed orders and increase efficiency as well."
The overarching theme of the panel discussion at BW Businessworld Supply Chain Summit & Awards 2023 revolved around adapting to the evolving dynamics of supply chain management in a technologically advancing landscape. The speakers collectively underscored the need for education, data-driven decision-making, and customer-centric approaches to meet the demands of an impatient and information-driven consumer base. As industries navigate the challenges of retrofitting legacy systems, these insights provide valuable guidance for staying ahead in the rapidly transforming world of supply chain management.
