A Malady and Its Repercussions in SCM

25-04-2021 13:11:12 Comment(s) By Abir

Covid-19, the harrowing pandemic that the world is reeling with has been an epoch-marking incident in the world. Economy being an integral part of the society as well as its driving force has also been adversely affected by the bane of this malady. Along with all the economic activities that has been at the receiving end of this acrimony, the logistics industry has also faced brickbats. While COVID-19 has pushed a lot of logistics companies under economical duress, made them struggle in order to grapple with the abrupt changes in the market policies and situations that arose in the initial months of the surge, many others in the domain withstood the vagary, protected their staff and served their customers by meeting their demands and maintaining the quality of work at the same time.


 Somehow it can be relevantly said that Covid-19 delineated the loopholes in all the sectors and forced everyone to reflect upon corrective measures. Logistics industry woke up to the fact that the global supply chains were hugely expansive that made them susceptible to breakdown in the face of crises situations and rendered them to be the saviours at the same time. In lieu of the conventional suppliers in the thick of the pandemic, the logistics companies had to rely greatly on the localized supply chains to keep the process of delivery afloat. These local suppliers are likely to assume a very important role in the post-covid scenario as well.


Inevitably, the logistics industry will have a seminal role to play in the vaccination rollout all around the globe. Though there are numerous challenges that the industry regularly has to deal with in India, there is an overpowering hope that the domain will resiliently brave through all the obstacles. It can be faithfully summed up that the logistics sector will soon bear fruits and will prove to be productive in resurrecting the national as well the global economy that has gone in the tailspin.


In this article we would try to boil down some of the main points that the logistics industry has followed in these trying times. 


The very first trend is of digital space, which, bereft of any exaggeration, can be safely said to be ruling the roost in all domains, ranging from education to economical activities. The importance of an already existing and thriving digital space has spiraled in the pandemic times. Indians were happily accustomed to the transaction at the local level in the form of grocery stores. Gradually, big retail malls started disseminating and then the nomenclature of e-commerce made its inroads in India. As mentioned earlier, India’s online trade trend has been a burgeoning business since inception, but the pandemic has catapulted the same to a whole new zenith altogether. This switch from offline to online is going to be normative and will flourish in the days to come. 


The importance of a competent warehousing system has been felt afresh by the service providers. Suppliers have felt the need of moving their inventory near the endpoints and downstream. There is an increased awareness regarding the location of inventory. As mentioned earlier, with the floodgates of e-commerce being thrown open, customers in all distant parts of the country have become abreast of the digital space and are trying to reap the benefit of it. Hence the suppliers need to stack their items near the thronging markets, i.e. everywhere. Not only does it help the industry expand but also a smart inventory management, delegation of authority to the local vendors and shippers are also playing a key role in success of the suppliers. Apart from the obvious factors of infrastructure and accessibility, a better positioning of inventory helps in the optimization of resources and reduces cycle time.


Intensive emphases on the multi-modal and multi-leg transportation are closely linked with the need of getting expansive. There is an amplified demand and scope in unifying and integrating rail and waterways than ever before. In order to reach out to the most remote of the customers, yoking all sorts of conveyance systems has become the sine qua non. A prudent usage of multi-modal logistics is instrumental in reducing cost and increasing customer satisfaction. Leveraging roadways, railways and waterways is a key- factor in achieving cost-efficiency in the Indian context.


In these days of shifting paradigms, Omni-channel marketing has also taken a precedence. Sellers are trying to provide the consumers a seamless buying experience, integrating the palpable, physical inventory with the online trend with the larger objective of managing the selfsame inventory in a far more efficient way. In this way not only are the consumers benefitted, but the variegated form of demand keeps the sellers on their toe, helping them upgrade themselves.


The role of technology has become the mainstay of modern supply chain logistics as the former will emerge, if not already has emerged, to be the game-changer in the industry. Technology has risen beyond just a tool of felicitation and has become a key factor in designing an effective network and achieving custom-made business experience. At the very onset of this article, it has been made clear that there is a reinstated demand of revamping the supply-chains, both across the local as well as the global parameters. The logistics industry thrives and works upon the human resources and face-to-face communications but it has become inessential now to integrate technology across all possible fabrics of the supply chain industry.


The ultimate and arguably the most prominent trend that has become conspicuous in these times is the usage of data sciences, analytics and AI. In a volatile, competitive market, the need of a predictive model of analysis is playing a key role. Thus, multi-variable supply chains are rising to a greater eminence.

 

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