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In the present times, businesses across the globe faced Supply Chain disruptions
due covid-19 pandemic. What remedial measures companies are taking or should
take to build capabilities in their Supply Chain so that they are in a better position
to face such uncertainties in future and avoid Supply Chain disruptions and
resulting loss of business revenue?
Unprecedented levels of disruption brought on by the COVID-19 have affected the
domestic and international supply chains. To prevent such disruptions, shippers, logistics
providers, and other supply chain participants can follow the following preventative
measures and best practises.
(a) Diversify sourcing- By integrating different sourcing points across their supply
chains, both nationally and worldwide, organisations can enable more resilient
solutions and effective disruption responses, ensuring more business-as-usual
operations.
(b) Invest in Innovation- Cutting-edge tools like AI/ML, automation, predictive
analytics, and prescriptive analytics help supply chains identify possible
disruptions earlier and adjust in real-time as they take place.
(c) Invest in key technologies- The Warehouse
(d) Management System is one of the most effective technologies that enables
supply chains to withstand such disturbances (WMS). Making sure the systems
and procedures are in top form aids in not only obtaining the money’s worth from
WMS but also in improving the supply chain.
(e) Warehouse Design- The key to maximising efficiency is to have the best
warehouse layout for the operation. A warehouse must react to changes in sales
velocity. A flexible technique must be used if products become more popular or
are seasonal so that they can be moved into and out of prime picking positions
as needed.
(f) Empower the workforce- Providing tools like workforce management systems to
the workforce enables it to preserve employee morale, engagement, and
productivity in times of adversity. When time is of the importance, they offer
greater collaboration, visibility, and direction, optimising operational efficiency.
Recent trends point to interesting opportunities for the Indian logistics sector in the years
to come. Few of them are:
● Recently, Tier-II and III cities have seen an increase in consumption patterns, leading to
a shift in concentration towards logistics."
● Artificial intelligence has proved crucial in cutting costs, enhancing accuracy, and saving
time through cognitive automation.
● India’s exports are booming right now, reaching new highs in 2018–19 and expanding by
about 11%.
4) State Engagement
Support the creation of state -and city-level logistics strategies. Create institutional
frameworks to guide state and local government activities. State actions are evaluated
and ranked.
5) EXIM (Export-Import) Logistics
Enhancing trade competitiveness and advancing India’s integration into regional and
global value chains in order to create a reliable, efficient logistics network.
d. How National Logistics Policy 2022 will promote multi-modal logistics in India and
its benefits.
The MMLP, which was developed using a “Hub and Spoke”; paradigm, will integrate
several means of freight transportation via inland waterways, railroads, and highways.
The Multi Modal Logistic Park project aimed to build cutting-edge, large-scale
warehouses for various commodities and to serve as a one-stop shop for all services
associated to cargo movement, including storage, customs clearance, parking, truck
maintenance, etc.
The strategy would provide a framework for the establishment of multimodal logistics
parks (MMLPs) in important markets while enabling quicker first and last-mile
connections. \
When it opens in October 2021, the multimodal logistics corridor under the
PMGatiShakti national master plan would help India become more competitive on a
global scale by reducing the cost of logistics by about 8%.
3. Examine the application and impact of following four technologies (i.e. Artificial
Intelligence -AI, Internet of Things (IoT), Robotics & Automation, Blockchain) in
Supply Chain Management.
Include specific examples of application of these technologies to make supply
chains more efficient, responsive and resilient.
Artificial Intelligence
AI is helping to deliver tremendous optimization skills, which are important for more
accurate capacity planning, increased productivity, high quality, lower costs, and
increased output, all while encouraging safer working conditions. These benefits may all
be achieved through the use of AI. These benefits can be achieved through the use of
AI. All of these advantages are made attainable by the implementation of AI into supply
chains. Utilizing technology in the following ways can make the supply chain more
responsive to changes in demand and more resilient to disruptions:
a. Accurate Inventory Management AI-driven tools, thanks to their capacity to
process large amounts of data, have the potential to be extremely useful in the
field of inventory management. These smart systems are able to quickly analyse
and interpret massive datasets, which enables them to provide timely guidance
regarding the forecasting of supply and demand.
b. Warehouse Efficiency: In addition to enhancing production rates and simplifying
challenging operations, artificial intelligence (AI) solutions are able to address
many warehouse problems more rapidly and correctly than a human can. In
addition, automation efforts driven by AI can save crucial time, dramatically
reduce the need for labour in warehouses, and cut the cost of employing that
staff.
c. Enhanced Safety: Artificial intelligence-based automated tools can ensure
smarter planning and more efficient warehouse management, both of which can
improve employee protection. AI is also capable of analysing data pertaining to
workplace safety and providing manufacturers with information regarding any
potential dangers.
d. Reduced Operation Cost: Automated intelligent operations can work error-free for
a longer length, lowering the amount of errors and workplace problems that
occur. These activities can be used anywhere, from customer care to the
warehouse. The increased rates of speed and precision that may be achieved
with the employment of robots in warehouses contribute to higher levels of
overall productivity.
Internet of Things
Making use of GPS and a variety of other tracking technologies, devices that are
connected to the Internet of Things offer a dependable means for certifying shipments
and tracking products all the way through the supply chain. They are also able to monitor
the conditions under which products are stored, which contributes to an improvement in
quality management throughout the supply chain.
The technology can be used to make supply chain more efficient, responsive and
resilient by:
The technology can be used to make supply chain more efficient, responsive and
resilient by:
a. Replacing slow and manual processes: Even though supply chains can now
manage large and complicated data sets, particularly those in the lower supply
tiers, are slow and rely entirely on paper. This is the case in many industries,
including the shipping industry, where it is still commonplace.
b. Strengthening traceability: Already, change is being driven by an increase in the
demand for provenance information from both regulators and consumers. In
addition, increasing the level of traceability adds value because it reduces the
high costs associated with quality issues, such as product recalls, damage to a
company's reputation, or revenue lost due to sales of gray- or black-market
goods.
c. Increases transparency: After being added to the blockchain, the veracity of the
information can be validated by a variety of independent attestators. Real-time
modification and verification of the data are both possible with this information.
Submitted by:
Kamna Srivastava
PGMA2122
Section: MA