CARGOCONNECT-MAY23 - Flipbook - Page 37
Accurate, long-term
forecasting is crucial to
efficient supply chain
management and
driving down costs. But,
supply chain professionals also require the
means to understand
short-term demand to
help make faster
decisions based on
what happened days
– or even hours – ago.
And this can’t be done
manually with high
volumes of SKUs and
vendors in the mix,
combined with the
complexities of global
trade. Having real-time
supply chain visibility is
invaluable because it
prepares a company for
the future by giving a
proactive mindset.
Supply chains have
traditionally been
constructed with an
emphasis on logistics.
However, the industry
as a whole has changed
due to the growth of
digital supply chain
networks.
works across the globe helps us
to predict and plan.
As platform-based business
models gain popularity,
retailers are looking at new
opportunities for seamless
business with their supply
chain partners
To achieve effective channel
management, it is essential for
suppliers, distributors, retailers,
and other supply chain partners to collaborate and share
information and insights. This
collaboration can help optimise
inventory levels, minimise waste,
and enhance overall efficiency.
Additionally, better channel
management can help companies
streamline their logistics operations, leading to cost savings,
faster order fulfilment, shorter
lead times, and improved delivery
reliability.
As platform-based business
models gain popularity, retailers
are looking at new opportunities for seamless business with
their suppliers, logistics service
providers, and other supply
chain partners. This includes
exchanging data, streamlining
procedures, and working together
on R&D and innovation projects.
Alignment with strategic partners
in closer proximity may further
aid in reducing costs and streamlining breaks in supply due to the
complexities being faced in the
supply chain now.
Going forward, one key
strategy for us to improve
our supply chain is to leverage advanced analytics
Clovia started with its online
store initially to understand
customers’ needs and cater to
them as per first-hand responses.
As the product-market fit has
been a roaring success for us
and the feedback and customer
response/retention is phenomenal, the focus now is primarily
to meet demand and ensure
growth across all channels of
distribution. Majoring in the
online front, tech has played a
huge role in customers’ choices.
They anticipate better and quicker
delivery from companies in all
industries. As such, businesses
have acknowledged the value
of making logistics operations
client-centric because customer
happiness is the ultimate goal
for firms.
Going forward, one key
strategy for us to improve our
supply chain is to leverage
advanced analytics. We tend to
develop a new view of demand by
tracking and analysing shifts in
purchasing behaviour, consumer
sentiments, and relevant macro
casuals to better understand
the shifts in demand signals
over time instead of relying on
historical sales alone. We can
thus leverage this enhanced
view of demand for improved
supply planning and optimal
allocation of resources across
the value chain.
The industry as a whole has
changed due to the growth
of digital supply chain networks
Having real-time supply chain
visibility is invaluable because
it prepares a company for the
future by giving a proactive
mindset. Supply chains have
traditionally been constructed
with an emphasis on logistics.
However, the industry as a whole
has changed due to the growth
of digital supply chain networks.
The secret to improvement has
always been to analyse the flow
of commodities as they enter
and exit factories or warehouses.
At Clovia, we have been efficient in our delivery timelines
and are working on making it
more improved. We are looking at building hubs closer to
our customers and making the
delivery process seamless and
hassle-free with our technology.
Additionally, by building a connected supply chain, we plan to
leverage the holistic perspective
of all the activities involved and
how they are operating both
independently and in relation
to one another. Similarly, by
automating processes, providing
real-time visibility and improving communication, we will be
able to reduce costs and improve
efficiency throughout the supply
chain. This will lead to better
inventory management, faster
delivery times and increased
customer satisfaction.
CARGOCONNECT MAY 2023 | 37
Interviewed by UPAMANYU BORAH
products have high satisfaction
scores. This helps us provide
better products and also plan
our inventory accordingly.
We also use smart technology and big data analytics for
smart management of inventory which ensures we have
the industry best inventory
holding, one of the most critical parameters for scaling an
apparel business. Additionally,
industry intelligence and wide
connections with partner net-