Photo Caption: (L- R) Dr. Rajiv Aserkar, Professor & Area Head of Logistic & Supply Chain Management, S P Jain School of Global Management with the esteemed panellists.
Singapore, 26 July 2019 – Organised by S P Jain School of Global Management (S P Jain), the annual Supply Chain Conclave was held at the SP Jain Singapore Campus on Friday (19th July 2019) where its annual Industry Research Survey findings were released.
The theme for the 8th Annual Supply Chain Conclave was ‘Digital Transformation of Procurement & Supply Chain’. This annual event is a unique platform for business leaders, logistics and Supply Chain professionals and academia to interact and understand the state of supply chains today and assess their impact on the business.
Attended by over 80 senior leaders and industry players, the event kick-started with a welcome address by Mr. Nitish Jain, President, SP Jain School of Global Management. Following the welcome address, attendees were engaged in a presentation by Keynote Speaker Mr. Kris Kosmala, Founder, Click & Connect.
Supply Chain Management Conclave Industry Survey 2019
The Supply Chain Management Conclave Industry Survey 2019 was led by Mr. Sven Ruytinx, Managing Director, Accenture Strategy and Mr. Sharad Parashar, Director, Accenture Strategy.
With over 100 respondents across the Asia Pacific, the Middle East and India from the consumer goods sector, logistic, energy and resources, telecom and media.
Some of the key takeaways from the survey included:
- Some of the benefits of digitalization of procurement and supply chains are labour cost reduction, obsolete inventory reduction, increased sales revenues, and improved forecast accuracy.
- Some of the challenges within the value chain are poor response time, lack of visibility, inefficient fulfilment model and talent scarcity.
- Considering the increasing consumer expectations, it is better to start digital transformation journey early and aim for low hanging fruits.
- First identify the problems and then select the suitable technologies to solve these problems.
- Data analytics, cloud computing, robotic process automation and artificial intelligence are the most favoured technologies to reap the benefits of digitalization. Drones and 3D printing are yet to mature for large scale adoption.
- Successful digital transformation requires active leadership from the top management and a dedicated team within the organisation for execution of strategies.
Commenting on the survey, Dr. Rajiv Aserkar, Professor & Area Head of Logistic & Supply Chain Management, SP Jain School of Global Management added, “This survey was conducted to understand the journey undertaken by the organizations towards digitization of procurement and supply chain functions. It will help gauge the level of preparedness of the industry to meet various challenges and the steps to be taken to enjoy the full benefits of digitization in future”.
The conversations continued with a panel discussion on ‘Delivering Value Through Digital Transformation of Procurement Function’, covering areas such as formulation of digitalization strategies; challenges faced by SMEs and various organization to source procurement; benefits of online services for procurement; and more.
Moderated by Dr. Rajiv Aserkar, Professor & Area Head of Logistic & Supply Chain Management, SP Jain of Global Management; the panellists included:
• Ms. Fanny See, COO & Co-Founder, Detrack Systems
• Mr. Jian Min Sim, Co-Founder and CEO, SourceSage
• Mr. Kamish Mirza, Head of Supply Chain Management, Ericsson Asia Pacific
• Mr. Kaustubh R Wadekar, Group Chief Procurement Officer, SingTel
• Mr. Kumud Jha, Director, Accenture Strategy