Understanding Supply Chains in modern business.
by Umam Qureshi
We live in a world that is continuously ignited by the power of technology. Technology has given rise to some of the most modern forms of businesses and work systems. It has not just enabled smoother working of global systems but has also created an endless chain of opportunities for everyone.
The age-old system of Supply Chain has also been highly influenced by technology. Supply Chains have a comparatively different and modern role in the 21st Century. Every step in the process has been modernised keeping the newer and demanding nature of consumer behaviour.
To understand the working of modern supply chains and compare them to a fairly older model, we first need to understand the meaning of supply chains!
What is a Supply Chain?
In business and commerce, a supply chain is a network of processes or steps that enable the entire system, from production to the distribution of an end product to the consumers. It is basically a group of activities, people, resources, data, logistics and information that come together to form a smooth business system.
The term supply chain management was first coined by Keith Oliver 1982. The late 1920s saw a rise in mass production alongside the assembly lines. This laid the foundation of supply chain management which included production of products on a large scale with an integrated and tiered process that increased efficiency.
Ever since its discovery and with endless trials and errors, it is safe to say that the world has successfully implemented and integrated supply chains in global businesses. Supply Chains have now become an indispensable part of business.
Along with an overall change in supply chains, supply chain management has also seen major changes over the years. A large team is no more a necessity for supply chain management. The roles of the supply change manager or a C-suite officer have witnessed some very drastic changes.
The Podcast:
The Brand Called You, an incredibly motivational podcast platform recently launched its S3 with newer and inspirational episodes. The highlight of this season is the incredible Supply Chain series that brings some of the most experienced and successful minds from the supply chain business.
Joel Solomon, who featured in one of the episodes is a very experienced individual and a highly knowledgeable Supply Chain Guru from Malaysia!
About Joel:
He is currently the Head of Asia Pacific, Supply Chain Management for Braun. Earlier he was in the Supply Chain and Operations for Cargill and Campbell Soup.
In a very informative interview with our host Ashutosh Garg, Joel shared the story of his professional career and discussed the relevance of supply chains in a modern era.
His thoughts on Supply Chains:
Joel believes that Supply Chains have evolved to a point that they are a pivotal part of any organization and a lever that organizations can pull for maximized customer engagement, profits and the overall balance of supply.
Joel has worked in diversified fields and businesses and he believes that the key to the supply chain management of all of these fields is ‘customer centricity’
He describes the amazing and speeding changes that technology is bringing about in supply chains. AI, Drones, strong networking, technology oriented payments and data analytics, the list is endless!
Consumer Expectations and the Pandemic:
When asked about the changing consumer behaviour in the pandemic and increased consumer expectations, Joel responds
“ This is actually amazing. Because the biggest change or the biggest pressure it has put on supply chains is
- how close you can get to the customer.
- how fast you can respond to customer queries
These are to me, the new dynamics or the new levers that’s impacting how customers perceive an organization. So I feel that during this time, during this change when we work from home, we have to actually change the way we work. The traditional supply chain is not going to change. However what changes for us as supply chain practitioners is
- how fast you can collect insights from this,
- how fast you can sanitize the data to sensible data and and
- how fast can you reach to your customers?”
“So that the new way of working is probably where you spend more time online and less physically. But I suppose the one challenge we are always going to face as humans is that interaction is very critical. So that part of business is something that you need to find how to fix or how to keep evolving during this kind of time.”
Joel’s opinions are backed by his many years of experience in the supply chain field and his strong belief in technology as the driver of change!
Another Supply Chain Guru who shared his thoughts on this vast subject is Ranjeet Banerjee. However Ranjeet’s professional career is in the cold chain industry which is also a part of supply chains.
Cold Chains is a lesser known but an extremely vital industry all over the world. Temperature regulated supply chains, the Cold chain industry works to ensure that vaccines, drugs and biologics are provided with thermal integrity assurance when transported around.
This not only ensures efficacy of the vaccines and drugs but also prevents the consumers from buying anything that is inefficient or dangerous.
Pharmaceutical research has displayed that all kinds of drugs not only require temperature monitoring but also condition monitoring.
Cold chains play a very vital role in maintaining the quality of products which in turn keeps the consumers satisfied. It also greatly contributes to the economy.
About Ranjeet:
Cold chain industry expert and entrepreneur- Ranjeet Banerjee is the CEO of Cold Chain Technologies. Earlier, he was with BD, a global medical technology company. His vast experience in cold supply chains makes him stand out as a very knowledgeable individual of the industry.
“Culture is so vital in what you do and how you engage in an organization and express what you stand for.”- Ranjeet Banerjee.
Ranjeet’s thoughts about the Cold Chain Industry
Talking about the origin of this industry, Ranjeet informs that Cold Chain was established around 50 years ago in Massachusetts near Boston. Ever since, the necessity of this industry is unmatched. These chains play a very vital role in consumer safety and healthcare.
Ranjeet believes that cold chains play a very important role in delivering temperature sensitive materials soundly. He explains how his teams perform thermal design tests with the right materials and conditions to make sure that the process is robust and accurate.
Ranjeet believes that the global pandemic has given him a higher chance of building continuous partnerships and collaborations to find solutions and fight the pandemic!
To conclude,
While the importance of supply chains is still to be widely recognized, supply chains remain the most vital part of any smoothly functioning business.
Tune in to our podcast for more stories of Supply Chain Gurus and endless knowledge on the working of supply chains!
The Brand Called You, covers the stories of many such artists, entrepreneurs, social workers and professionals. Visit The Brand Called You for content on Entrepreneurs and Professionals from a wide spectrum of various backgrounds.
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