Tracing the Evolution of Supply Chain and Prospects about its Future

Business

New Delhi, August 28: The BRICS Chamber of Commerce and Industry organized a webinar on Tracing the Evolution of Supply Chain and Prospects about its Future on August 27, 2021, 5:30 PMIST virtually.

In line with the BRICS 2021 Agenda, the BRICS Chamber of Commerce & Industry evaluated how new technologies can further improve how goods are shipped, handled, stored, and delivered. We also discussed how companies could reduce the supply chain’s carbon footprint by making it more efficient through technology and using cleaner fuel.

The panel discussion advocated solution-oriented dialogue where panelists and invitees pitched ideas for efficient decision-making and an effective supply chain. We also discussed how collaboration between countries and companies could help create new technologies and deploy the current ones in creating a more sustainable supply chain. We identified the means and ways by which the MSME and the unorganized sector can implement the supply chain technologies in their business.

The webinar was inaugurated with the opening address of our Chairman, Mr. VishwasTripathi, who stated that “The 21st century has changed the way the traditional supply chain works. Implementation of Artificial intelligence, Advance analytics, the Internet of things, Robotic process automation, Block chain and Machine learning has opened new prospects in the field and made the supply chain more efficient and resilient.”

The session was presided by Keynote speaker, Lt. Gen. D V Kalra, PVSM, AVSM (Retired), who stated, “The development of IT is exponential. You are talking about AI, block chain and many other terms. The supply chain is moving fast, and the future is bright with continuous development.”

The panel discussion explored a myriad of topics discussed by a cohort of a diverse panel of experts from all across the globe:-

RaveenaGoyal (Supply Chain Consultant) said that “Supply chain can be summed up into three words- Descriptive, Prescriptive and Predictive which will enable to enhance the trajectory of action and improve our inventory levels.”

AniTonyan (Business trainer & Consultant in Sustainable Procurement Management, MBA Lecturer at MIRBIS International Business School) said that “We need to be more eco-friendly to protect everyone in this chain. The traditional supply chain was a narrow concept, but the scenario has changed to include innovation in diverse areas. It now delves into more transparency.”

Sanjay Agarwal (President and Head, Supply Chain, Hindalco, Aditya Birla Group) said that “In the recent pandemic, we have understood the importance of a resilience supply chain. We need not even a minute of the shutdown, and it is crucial to select the right business partner. We have to not only invest in our business partner but also maintain long-lasting relations with them.”

Akshay Kumar Deshwal (Director, YayathBuildtech LLP.) said that “The future of the supply chain is very bright, and the warehouse is acting as a pillar. eCommerce is completely dependent on it now. Covid19 has boosted it a lot.”

Minhaj Ashraf (Managing Partner, Shalimar Group) said that “The biggest problem is the poor quality of infrastructure in India. Secondly, National highways carry 40 per cent of transportation. Thirdly, in cold chain logistics, there’s a shortage of capacity. We have to develop something for the proper supply chain management.”

The session was moderated by Lt. Gen. D V Kalra, PVSM, AVSM (Retired).

The event was concluded by the Vote of thanks delivered by Mr. RuhailRanjan (Governing Body Member, BRICS CCI)

YouTube Link- https://youtu.be/ekMKOypUX7w

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