To keep up with the ever-changing technological advancements in the world, companies will need to invest in supply chain technologies to enhance their customer centricity and reduce total cost of ownership, said Ravind Mithe, Head of Management Consulting Operations- KPMG India.
He was speaking at the Chartered Institute of Logistics and Transport (CILT), International Conference 2018, held under the theme, ‘Staying Relevant In A Digitally Connected Future’, in Colombo yesterday.
He said that emerging technologies today are likely to reinvest or reshape all steps of supply chain and these emerging digital technologies are at different stages of maturity, and therefore supply chains need to incorporate or respond to them as they become significant.
Customers today are engaging differently with brands creating a profound effect on how companies position themselves in the market place. In addition, digital technologies are hitting the market place, making much needed changes in supply chain practices in every five years.
“We have to digitize supply chain management to make it more relevant in the digital world,” he said. “Every five year a new digital wave comes, in which you can actually ride on. With that new wave, you can change your organization. If you don’t change your organizations on that wave; you will go under the wave. It is very important that CEOs are recognizing that they need to change and disrupt to be relevant in the market place,” he said.
In this context, the companies will also need to look for more technology enabled skills in their team rather than in traditional supply chain and IT experience.
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