Supplier Navigator: Future of Supply Chain Management in India
Since 14% of India’s GDP is spent on logistics, it is the need of the hour to explore supply chain management in India and devise strategies to improve it. The pandemic has wreaked havoc on global supply chains, and India is no exception. In order to ensure the continued recovery of the Indian economy, it is essential to address the risks and uncertainties within the supply chain. This will require innovative thinking and comprehensive planning.
However, the COVID-19 pandemic was the driving force that businesses needed to push for innovations in the supply chain. Surprisingly, even companies that were ill-equipped to respond to disruptive events and had limited resources rose up to the challenge by adopting analytical practices and technical standards to provide solutions.
But the challenge of building strong, reliable supply chains does not end here. It would require constant effort, effective upgrades and rigorous risk assessment and management to ensure supply chains stand the test of time. Companies worldwide must rethink their business models to create agile and resilient supply chains that help stabilise growth and ensure sustainability. This would mean relying heavily on digital technologies and agile methodologies to respond efficiently to the ever-evolving technological domain.
India has the potential to be a leading force in the global market – this is thanks to the country’s natural resources and the intelligence of its citizens. There are numerous opportunities for those aspiring to become supply chain managers so that they can align their skills with the needs of the country. By acquiring a Master’s Degree in Supply Chain Management, individuals would be equipped with the analytical approach required to make effective decisions for the future of India’s supply chain.
India has the potential to adapt to the emerging challenges and recover stably in the post-pandemic world, with the backing of cutting-edge technologies, an active interest in the diverse cultures around the world, and a skilled workforce.
The Future of logistics & Supply Chain Management In India : Global Trends, Predictions, and Opportunities
With traditional supply chain strategies being replaced by more cost-effective technological interventions, companies will need to rethink their business models, diversify their manufacturing processes, and explore different trade channels. This shift will require companies to be more agile and adaptable in order to stay competitive.