PERSPECTIVE
Revitalizing the
‘NERVE’ OF BUSINESSES We are witnessing a clear shift from linear supply chains to more integrated networks connecting many players as an aftermath of the Covid-19 pandemic. As hailed by global supply chain experts, the supply chain of the future will need to be agile, flexible, efficient, resilient, and digitally networked. The recently held Tattv’22, the Annual Operations Summit – flagship event organized by SIOM, Nashik, dwelled on redefining the overall supply chain strategy, the need for increased visibility, and chartering new paths. The panel discussion, ‘Omnichannel Supply Chain,’ hosted during the summit, offered fascinating experiences of companies, and deciphered how they circumvented the most unprecedented times and emerged successfully to not only survive but also thrive. Here’s offering a perspective of their thought-provoking discussion...
Elon Musk
once stated a very interesting statement, “The supply chain stuff is really tricky.” But for me, I am a firm believer of the people who have stated that Impossible is Possible in the supply chain. For me, the supply chain is like nature, and it exists everywhere. The past couple of years have thrown some unforeseen challenges and forced organizations to adopt omnichannel supply chain strategies. Citing the positives, the supply chain has helped us build resilience and the power to innovate. It has made us believe that sky is not the limit, especially looking at the e-commerce numbers, which have touched US$5,500 bn in 2021. The COVID19 possibly was one of the worst pandemics in history that has successfully devastated the economy. It has uprooted the normal and forced industries to innovate and build resilience. Different industries demonstrated different impacts during and post the pandemic. While some reported negative growth, others went on to book record profits. But there
42 CELERITY March - April 2022
was one common point across the manufacturing and retail industries, i.e., a completely stressed supply chain with a shortage of resources. Under such circumstances where consumers were thoroughly confused, industries had some tough choices to make. Adopting to Omni-channel strategy became one of the recommended alternatives, while consumers expected trust, transparency, and experience at all channels. Delivering at customer location becomes a norm, even though the customer ordered through different channels such as web, in stores or via a call center, etc. Organizations were forced to redefine their customer experience strategies, offering omnichannel experience, balancing supply and demand, and simultaneously remain profitable. This provoked out of the box thinking not just at an industry level but also for individual organizations. I clearly observed five distinct actions taken by the organizations to ensure customer experience and profitability at the same time.
Dr. Samir Yerpude, Leader – Digital & Connected Customer, Tata Motors Ltd.
1. There was a clear disruption in demand and stress induced in the supply chain. Organizations segmented their product lines along with the customers identifying the most profitable ones that would induce stabilization and growth. The skill set required was analyzed
