“G mane Genius!”
The famous combination of ‘kadak chai’ with Parle-G can never be forgotten. The only biscuit that fulfilled our hunger, anywhere, anytime. Parle-G is our life savior, and it will continue to be a ‘knight in shining armor’ for all of us forever.
But do you know why Parle-G is seen in every house, car, scooter trunk, bag, and other boxes? It is because Parle-G is available in every shop, tea stall, grocery store, supermarket, and hypermarket.
How did the Parle company make it possible?
Firstly, Parle-G uses the strategy of intensive distribution. It makes them available everywhere. With over 1500 wholesalers, directly or indirectly catering to 425,000 retailers, Parle-G has captured almost every corner of rural and urban markets.
The massive supply chain and intensive distribution, with the product price, have made Parle-G cross $2 Billion in sales in the financial year 2022.
Supply Chain plays an important role in the success of the business. If your supply chain system is up to the mark, it alone can make your company earn profits in billions and become the market leader like Parle-G.
But... the Covid-19 pandemic changed the game.
Before the pandemic, the supply chain was just a routine task. After that, the scenario changed. With a massive hindrance in the supply chain, many organizations experienced huge losses. Due to the lockdown, when they had to face delays in supplying the goods, only then the eyes of the C-Suite people were opened.
According to an article in the World Economic Forum, “Many chief executives now identify supply chain turmoil as the greatest threat to their companies' growth and their countries' economies.”
Also, as per a KPMG report, during the pandemic, 67% of CEOs around the globe and 64% of CEOs of India analyzed the need to reinvent their supply chain system. It is crucial to ensure business continuity and growth.
These quotes, numbers and, most importantly, the pandemic might have made us realize that without an appropriate supply chain, it is difficult for businesses to survive.
But what to do? How to make your supply chain resilient enough to be UNSTOPPABLE? Let’s have a look at the best practices from the lessons learned during the pandemic.
Let’s learn from the king of fast-food chains, McDonald’s. You can find McDonald’s in all the metro cities, with not just one outlet but more than that, at the junction of 2-3 areas of a periphery. And the best part, it offers exactly the same products and services in every store.
You see, globalization isn't all it's cracked up to be. The pandemic showed us the vulnerabilities of relying on distant sources for everything we need. And so, it's time to prioritize local production. By reducing dependencies on distant lands, we can create a resilient and self-sustaining supply chain ecosystem.
Lesson Learned: The era of hyper-globalization may have come to an end. It's time to embrace a new paradigm—a more localized approach to supply chains. You must rekindle the spark of regional production and strengthen local partnerships.
With this, it will be easier for those to not only survive in the market but also expand it to a massive horizon while experiencing growth.
With everything else in the world, supply chains are also becoming sustainable. Recently the Godrej Group committed to achieve ‘zero-deforestation’ in its supply chain. Not only that, giants like TATA, Hindustan Unilever, Hero Motocorp and many others are already investing in sustainable supply chains.
The pandemic exposed the environmental impact of traditional supply chains. Fortunately, our generation realizes that, and so we prioritize sustainability and eco-conscious practices.
With that, it's time for organizations to integrate sustainability into every aspect of the supply chain, from responsible sourcing and green packaging to reducing waste and carbon emissions.
Lesson learned: Adopt the circular economy principles, where products are designed to be reused, recycled, or repurposed. Also, it is important to prioritize suppliers who align with sustainable practices and work towards creating a greener future.
Heard of ‘coworking spaces’? Well, that falls under the sharing economy. In layman's language, sharing your spaces or services for free or with certain fees with other organizations is a sharing economy.
So, how can the sharing economy be applied in the supply chain? Let’s look at an example of warehouse services offered by various companies like Shiprocket, Mahindra Logistics, TVS Supply Chain Solutions, and many others. They provide ready spaces to store big or small packages to the organizations for a certain period with pre-decided fees.
But why imply? The rise of the sharing economy has disrupted traditional industries. You can apply its principles to supply chains by embracing collaborative models such as shared warehousing, transportation, and inventory management. By sharing resources, giants can reduce costs, share the load and enhance flexibility. Those will have experts to deal with their stocks during adversities.
Lesson learned: Explore collaborative partnerships with like-minded organizations to create shared supply chain resources and optimize operations for all parties involved.
Before technologies reach companies, people have startups offer smart technologies and related services for their supply chain management. Hopstack, LogiNext, Roambee, and Prozo are some of those startups.
In today's digital age, investing in cutting-edge technologies is no longer a luxury but a strategic imperative for businesses aiming to stay ahead of the curve. Digital technologies like IoT, blockchain, and AI hold the key to unlocking real-time visibility and optimizing operations within your supply chain.
Picture a world where IoT sensors act as vigilant guardians, tracking goods' whereabouts and conditions, while AI analyzes data to foresee potential risks and predict demand. By implementing these digital marvels, one empowers businesses to thrive in a fast-paced and ever-evolving marketplace.
Lesson learned: Say goodbye to guesswork and embrace the future of supply chain management, where innovation and efficiency go hand in hand.
So, dear managers of today and tomorrow, we stand at the crossroads of a post-pandemic world, armed with the knowledge gained from our collective trials. Let us challenge the status quo and break free from the chains of conventional thinking.
By incorporating these learned lessons, we can build a resilient supply chain ecosystem that will withstand future disruptions. The time for action is now, for in our hands lies the power to reshape the world of logistics and usher in a future.
Power comes only when we become the master of the world. And what better way to achieve it than acquiring masters in supply chain management from NICMAR University. Check out the unique curriculum of MBA in Supply Chain Management that offers you an opportunity to ace the discipline.