At a time when the market is faced with an unprecedented spike in the demand for different category of products, and especially FMCG products, we reached out to Vinay Kumar, Head of Supply Chain, Modi Naturals Ltd. to understand the reasons behind the spike in demand, the way to strike the right balance between demand and supply, the importance of sustainable sourcing, day-today challenges and much more.
Q] Despite inflation, India is currently facing a huge demand surge in kitchen essentials leading to supply gaps across grocery stores and e-commerce platforms. What do you see as the reason behind the demand spike?
Work from home has ended - working professionals are back to their bases, starting life in that city afresh - thus an increase in demand for kitchen supplies. There are a lot of chip shortages in the current market which is one of the big reasons for the demand and supply gap. The pandemic granted time - hence people started making healthy choices over junk or packaged ones leading to a demand push for kitchen supplies.
QI Demand forecasting must be a critical area for you given your diverse product portfolio. How do you aim to strike the right balance between demand and supply and keep your inventory cost minimum?
By keeping a robust eye on demand-supply variation. By doing proactive demand sensing over-reactive demand planning. By regulating the forecasts, and thus the production process twice a week (depending on the flexibility of the production process). By achieving a better On-Time-In-Full (OTIF). By making available the right product, in the right quantity, at the right place, at right time one can strike the right balance between demand and supply.
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Denne historien er fra February 2023-utgaven av Logistics Insider.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
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Coldman Logistics launches 7,000 Pallets Capacity Temperature Controlled Warehouse in Kolkata
Understanding the need to address the capacity demands in the cold chain sector and to improve the overall cold chain infrastructure, Coldman Logistics has recently announced the launch of its new state-of-the-art temperature-controlled warehouse with a capacity of 7,000 pallets in the capital city of West Bengal.
FACELESS ASSESSMENT
A Right step, but still a long way to EODB
MODI NATURALS Doing it Right
Commencing its journey in 1974, getting listed at the Bombay Stock Exchange, and entering the consumer division in 2012 with the brand Oleev, Modi Naturals Ltd. has come a long way. Over the years, the organisation has been adding new product portfolios to its lineage that have now become household names.
People-centric Digital Supply Chains For The Win
As tech innovation continues to make life easier, the debate about the inescapable future of Al continues, putting into question the role and importance of people. Many believe that as tech develops, it will be the answer to all the problems. While the efficiency and consistency brought by technology into a business are unquestionable, we see if that is enough. We explore the importance of people in the supply chain and logistics ecosystem and take the word from the experts that people-centric digital innovation is the need for modern supply chain.
Emerging Markets Logistics Outlook 2023-Asia
While 2022 marked a slow economic recovery from the Covid-19 disruptions, 2023 W will see international markets still struggling to break free of the financial quicksand created by the pandemic.
"THE LAUNCH OF AMAZON AIR WILL HELP US DELIVER AN EVEN WIDER SELECTION FASTER"
Amazon has been at the forefront of the global e-commerce industry and has made significant contributions to its supply chain in all regions it operates in. Same goes for India, where Amazon has been picking up investment pace in terms of warehouses and transportation.
NEARSHORING Supply Chains' New Kid on the Block?
As the pandemic crippled supply chains around the world, industry leaders realised the urgency of improving connectivity with their buyers and suppliers. Adding fuel to the fire are the COVID-related restrictions on entry and exit into China even two years after the disease took over the world and the war between Russia and Ukraine which led to several disruptions in cargo movement through Eastern Europe. In such a scenario, Nearshoring gaining strength as a concept seems only fair and obvious. With this piece, we try to simplify as well as gauge the concept in its entirety.
AMWAY INDIA Keeping customers, suppliers and the environment close in the walk towards success
Operating since over two decades in India, Amway offers around 10 brands and thousands of SKUs in nutrition, home, beauty and personal care products. It also takes pride in its contributions towards Make in India and driving a sustainable supply chain. With a global presence in more than 60 countries Amway's complex supply chain network includes a global warehouse management platform that improves inventory management and traceability, increases throughput and helps standardise business processes worldwide. In this interview with Logistics Insider, Rahul Gupta, Senior Vice President Procurement (Europe, India & Central Asia), Amway India gives insights into some interesting facets of their supply chain.
2023 WORD OF THE YEAR ADAPTABILITY
Volatility, uncertainty, complexity and ambiguity make up the VUCA world and a critical trait to sustain in this world is adaptability. A trait that enables supply chain leaders across the world to upgrade the way they work and enable business. continuity. With back to back disruptions becoming a norm of the new post-pandemic world, adaptability has emerged as a keyword in the books of supply chain leaders. In our cover story this month, we asked a few of such leaders about their thoughts on adaptability, its potential and the way it is transforming traditional supply chains.
"More Hits Than Misses" INDUSTRY REACTS TO THE BUDGET
The major aspects of this year's Budget, which are connected to the supply chain and logistics sector, will focus on promotion of railways and coastal shipping as cost and energy efficient modes of transportation, creation of critical transportation infrastructure, urban infrastructure development, sustainable development (green growth), creation of skilled workforce, providing support to MSMEs and revamping the tax and duties structure. In this special feature, we take a look at what the industry thinks about Sitharaman's proposals this year.
