Cargo Breaking News
GoComet, a leading supply chain visibility platform, successfully concluded its industry conference, GoComet Odyssey Edition 2, in Bangalore. The event featured insightful discussions and strategies from key industry leaders such as Unilever, Tolaram, Himalaya, Tata Electronics, Britannia, and MSN, aimed at thriving amid ongoing disruptions.
The event commenced with an address by Mr. Gautam Prem Jain, Chief Executive Officer of GoComet. Jain engaged the audience by tracing significant supply chain disruptions over the past five years, including recent events like the Red Sea Attacks, Suez Canal blockades, and the Baltimore infrastructure collapse. He posed a thought-provoking question, “Will disruptions ever cease in the international supply chain?” Jain further added, “What we once considered anomalies in the past have now become ‘business as usual,’ underscoring the need for resilient strategies in today’s dynamic environment.”
Mr. Saravana Mariappan, Supply Chain Head at Tolaram, a renowned business conglomerate with strategic partnerships with Kellogg’s, Colgate, and Kimberly Clark, took the stage to share his fundamental strategy for disruption-proofing supply chains. Mariappan emphasized the importance of building better visibility through technology, He highlighted how digitisation upgrades led to proactive exception handling in their S&OP systems, resulting in a significant improvement of 10-15% in forecasting accuracy. He concluded that, “supply chain visibility is about making sure that the right data reaches the right people at the right time” to achieve resilience.”
CA Sanket Chhajed, Head of Taxation & Audit at Himalaya Wellness, elaborated on the importance of digitization in building resilience and achieving profitability. He emphasized that businesses must approach digitization strategically, focusing on five
key pillars:
Problem Identification: Start with identifying business problems rather than solutions.
Digitisation of Processes: Address the root cause effectively through digitization.
Ecosystem Readiness: Ensure systems and people are ready for digitization.
Re-assessing Data: Leverage data for insights and assess tangible value frequently.
Roadmap for Future: Align digitization efforts with long-term business goals.
Sanket concluded that though digitisation is the way to go, businesses must take the time to find the right problem-solution pair to achieve resilience and profitability
Mr. Ravi Balasubramanian, Head of Logistics at MSN Labs, shared insights navigating disruptions in the last few decades, emphasizing on the ongoing nature of supply chain disruptions and the need for agility to ensure resilience. Echoing on what was shared he added the following steps to achieve resilience,
Forecasting and Planning Ahead: Anticipate disruptions through proactive forecasting and planning, developing contingency plans in advance.
Backup Strategies and Diversification: Build backup plans and explore alternative routes and transportation modes for operational diversification.
Mr. Ravi added that the only way to be truly resilient is to be proactive and aim at seeing further ahead instead of being a reactive cog in the chain
The conclusion of GoComet Odyssey Edition 2 represents a turning point in our collective journey toward supply chain resilience. With invaluable insights shared by industry leaders, the event has illuminated strategic pathways to effectively navigate disruptions. From proactive digitization strategies to cultivating a culture of foresight and adaptability, the keynotes have underscored the critical importance of resilience in today’s dynamic business landscape. As we look ahead, armed with knowledge and innovative solutions, GoComet remains steadfast in empowering businesses to thrive amidst challenges. “We are committed to leading the charge towards a future where resilience is not just an aspiration but a fundamental pillar of success in the supply chain industry.” Excitingly, Jain also announced that the next edition of GoComet Odyssey is set to take place in July 2024 in New Jersey, promising further opportunities for growth and collaboration.
