CARGOCONNECT-MAY23 - Flipbook - Page 39
All this technological orchestra
is offering invaluable insights
into inventory levels, improving
utilisation of warehouse space,
vehicle fleet, thereby creating
more accurate demand forecasts
and execution. Blockchain and
AI are also being woven into the
fabric of supplier relationship
management to create more reliable and efficient procurement
processes. These technologies are
helping manufacturers identify
potential risks and vulnerabilities
within the supply chain, enabling
them to craft proactive measures
and contingency plans to confront
potential disruptions head-on.
By putting together a
well-coordinated channel
The harmonious integration
of better channel management
within the consumer goods supply chain can significantly impact
business performance, leading
to a crescendo of benefits that
resonate throughout the entire
operation. By putting together a
well-coordinated channel management strategy, companies can
ensure products are consistently
available across various platforms, fulfiling customer expectations and boosting satisfaction
levels. A harmonious balance
between supply and demand will
enable businesses to maintain
optimal inventory levels. Leveraging advanced analytics and
real-time data, businesses can
finetune their demand forecasts,
leading to better planning and
decision-making.
The industry's 'mood' is one of
optimism, eagerness and enthusiasm to embrace modern-day
logistics management capabilities, ready to transform the way
businesses function in today's
fast-paced and ever-evolving
landscape. I can see proactive
adoption of benchmarking solutions, collaboration and partnerships with logistics providers,
technology vendors and increased
investment in innovation.
between third-party logistics
(3PLs) service providers and
building their own distribution
infrastructure, companies may
consider various factors, such as
cost-effectiveness (as building and
maintaining a distribution infrastructure can be capital-intensive),
focus on core competencies such as
product development and marketing, and rely on logistics experts to
handle distribution. Additionally,
3PLs offer more flexibility and
scalability, allowing companies
to adjust their distribution needs
based on market demand and
growth.
3PLs offer more flexibility
and scalability, allowing
companies to adjust their
distribution needs based on
market demand and growth
A circular economy model
has to be embraced, which
emphasises product life
extension through repair,
refurbishment, and recycling, thus reducing the
environmental impact of
product disposal
Companies in the consumer
goods industry are increasingly
recognising the importance of
efficient and reliable delivery of
finished products. In many cases,
businesses may be willing to pay
a premium for flawless delivery
to ensure customer satisfaction
and maintain a competitive edge
in the market. This willingness
not only stems from a desire
to Improve brand reputation,
customer loyalty and enhancing
supply chain efficiencies but also
because of associated costs.
When it comes to choosing
Sustainable sourcing practices
today are an important aspect of
ESG and supply chain strategy.
This means choosing raw materials that are environmentallyfriendly and ethically sourced
through an allied approach that
involves connecting to more
stakeholders and supporting
the transitions needed both
internally and externally for a
company. Another key area is
energy efficiency. By implementing energy-efficient technologies
and processes in manufacturing
facilities, companies can reduce
energy consumption and carbon
emissions. They can also explore
the use of renewable energy
sources like solar and wind
power. Waste reduction is also
essential. By minimising waste in
manufacturing processes, using
eco-friendly packaging materials,
and reducing packaging waste,
companies can have a positive
impact on the environment.
Water management is another
important consideration. Companies can optimise water usage in
manufacturing processes, invest
in water-saving technologies, and
wastewater treatment systems
to minimise water pollution and
consumption.
In terms of transportation,
collaborating with logistics
partners to reduce the carbon
footprint of transportation activities is crucial. This can involve
opting for fuel-efficient vehicles,
consolidating shipments, and optimising delivery routes to reduce
emissions. A circular economy
model can also be embraced,
which emphasises product
life extension through repair,
refurbishment, and recycling,
thus reducing the environmental
impact of product disposal.
By prioritising these basic
aspects, stakeholders can create a value-adding, sustainable
manufacturing and supply chain
ecosystem that not only meets
consumer expectations but also
contributes to the overall well-being
of the environment and society.
CARGOCONNECT MAY 2023 | 39
Interviewed by UPAMANYU BORAH
The industry's 'mood' is
one of optimism,
eagerness and
enthusiasm to embrace
modern-day logistics
management capabilities,
ready to transform the
way businesses function
in today's fast-paced and
ever-evolving landscape.
I can see proactive
adoption of
benchmarking solutions,
collaboration and
partnerships with
logistics providers,
technology vendors and
increased investment in
innovation. Firms are
now navigating the
digital skies,
transitioning from
traditional on-premises
data storage to versatile
cloud-based solutions
which are enabling swift
access, boundless
scalability, and fortified
data security.
management strategy, companies can ensure products
are consistently available
across various platforms