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The coming of age of the Indian supply chain landscape
- India has seen major innovation across the supply chains in the past two decades, driven by tech platforms, B2B marketplaces, and e-commerce sites. Companies like Ofbusiness and Zetwerk are revolutionising how sourcing happens across the business value chain. Automation is on the rise, with large companies like ABB and Siemens leading the way. Diversification of manufacturing/storage is key to ensuring multiple manufacturing and warehousing facilities locally and across countries. Faster deliveries are becoming more important to consumers, leading to the emergence of dark stores and same-day delivery companies. Leverage of technology is critical in improving time and cost efficiencies. Finally, companies need third-party logistics providers to simplify the supply chain.
- The supply chain is critical to performance across two key parameters for any company—customer satisfaction and profitability.
- Innovation in the supply chain can improve time to customers and also help improvise internal processes like sourcing, inventory management, logistics cost, etc.
- With the emergence of B2B marketplaces and e-commerce platforms, businesses and retail consumers have seen a complete change in their go-to-market strategy.
- Key trends dominating the supply chain landscape in India include: more organised sourcing; automation; diversification of manufacturing/storage; faster deliveries; technology leverage; and integrated service providers.
- Companies are planning their supply chain to ensure multiple manufacturing and warehousing locations locally and across countries to reduce dependence on one location.
- Quick commerce has paved the way for quick 10-minute deliveries, and same-day delivery has opened up opportunities for new-age logistics companies enabling warehousing closer to customers.
- Moreover, companies are demanding end-to-end third-party logistics provider (3PL) services—a one-stop-shop for all their supply chain solutions.
- Early growth companies in the supply chain landscape of India are being funded by focused funds that help partner companies navigate their growth journey.
- Investors are identifying the need to simplify the supply chain as an industry.
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