Scaling up Supply Chain Ecosystems to further global economic growth
Scaling up the Supply Chain Ecosystem to further global economic growth The Economic Times & DHL presents the Supply Chain Management & Logistics Summit 2018, a landmark summit that outlines the challenges and imperatives for the next stage of the India growth story May, 2018, Mumbai: India's supply chain ecosystem has great potential for growth in coming years, since it is considered as a back bone of the economy owing to the huge dependency of others sectors. The Indian logistics sector is expected to reach over $2 billion dollar by 2019, and given the large potential that this sector has, there is a need to understand the challenges that the sector faces and remove bottlenecks to progress. Acting as an agent of change, the Economic Times constantly endeavors to address issues that are pivotal to national and global business and economic growth. The Economic Times & DHL Supply Chain Management & Logistics Summit 2018, scheduled on 8th June in New Delhi, will witness the coming together of stalwarts from Government and industry to discuss and deliberate on the potentiality of the present and future challenges faced within the supply chain ecosystem, in addition to scrutinizing the emergence of new business opportunities within the sector. The summit will discuss critical components of India's supply chain and logistics sector, with the deliberations highlighting policy lacunas, impact of E-way bill, requirement for a robust SCM ecosystem, compliances, port connectivity and last mile solutions. High-powered panelists will also examine the need for reforms for creating a hassle-free dynamic supply and demand environment, latest trends in the sector, technology & digitization, financing and rail-road connectivity, besides chalking out best practices. Suresh Prabhu, Hon'ble Minister of Commerce & Industry and Civil Aviation, Government of India, is the Chief Guest at the Summit and will share his views on the leadership approach to building a smart & versatile supply chain highway for the vibrant Indian economy. Artificial Intelligence, IoT will be the key driver going in years to come, bringing a lot of value and generating improved customer satisfaction. Sanjay Mukherjee, Senior Director, Supply Chain Management, Whirlpool believes that the expectations of the Indian customers are changing very rapidly. Younger generations are much more technologically savvy and to keep pace organizations will have to change accordingly. However, these technologies have to be much more affordable to increase usage across organizations. Samir Chaturvedi, Head of Supply Chain, Patanjali Ayurved emphasizes that as far as technology in India is concerned, we are on the first lap of a marathon but are sure to catch up fast, as technology costs become competitive, and we are already witnessing outbreak situations where we have started leveraging tech to bring in efficiencies across the value chain. Samir further points out that technology usage in supply chain is continuously increasing. It has emerged that in some areas technology is extensively being used, e.g., tracking of consignments - be it primary transportation or last mile delivery. WMS which used to be optional sometimes back, is almost a necessity now. High profile panellists at the Summit include Kelvin Leung, AP CEO, DGF Acharya Balkrishna, MD & CEO, Patanjali Ayurved Shyam Jaju, National Vice President & State-in-Charge (Uttarakhand), Bharatiya Janata Party L. Satya Srinivas JS (Customs), Central Board of Excise and Customs Amit Dawar, Director Value Added Services, DGF Shridhar Kulkarni, Senior Director (Logistics, Distribution and Transportation) India Region, PepsiCo Manish R Sharma, Partner, PwC Vikas Anand, IN MD DSC Krishan K. Batra, President & CEO, Institute for Supply Management, India Rajesh Kumar, Head - Presales, Logistics Practice, Ramco Systems, Ramco Systems Rajesh Bajaj, Head Supply Chain, ANTPL - KFC Deepak Malkani, Partner, PwC Pinak Kulkarni, Supply Chain Coach, Consultant & Trainer Sandeep Juneja, IN VP DHLE Amit Bagaria, Vice President - Paytm Mall Dr. Prafulla Chandra Mishra, Statistical Advisor, Directorate General of Foreign Trade, Ministry of Commerce & Industry, Government of India Kamal Kishor Gupta, Director Supply Chain -Regulatory, Delhivery The advent of game-changing reforms sees the supply chain industry stand at cross-roads. By bringing together industry leaders, the focus of the summit is to push past traditional boundaries, drive innovation, and uncover new sources of value for today's enterprises, thus helping businesses achieve future successes and script new growth stories. About ET Edge Times Strategic Solutions Ltd., functional under the brand name ET Edge, is an Economic Times initiative founded to empower multiple industries and segments by sharing critical business knowledge through strategic conferences and summits. Encompassing the Indian business vista, ET Edge strives to bring together visionaries and key leaders on its knowledge platforms to create social and business ecology conducive to the positive changes required by the industry. The main aim of this initiative is to channel global business intelligence through summits and conferences in overarching lectures, hands-on workshops, panels, roundtables and case studies.
May 31, 2018 - ET Edge
''Ports In India Need Overhaul'' - Agam Berry, Quantified Commerce
India has an extensive 7,500 km coastline with 12 major ports and just under 200 minor ports, of which 139 are functioning. Primarily, the major ports deal with, by volume, 95% of India's total foreign trade. But, across the board, these ports are underperforming because of serious infrastructure and connectivity problems. Due to India's inadequate infrastructure, many investors are wary of getting involved in business in the region. We spoke to Quantified Commerce about how they circumnavigate the problems associated with India's ports. In terms of maritime capabilities, India is consistently being outperformed by many of its Asian neighbors. According to the 2016 World Bank's global performance index, India ranked at 35 out of 160 countries. It was beat out by Singapore (ranked 5), China (25), and Malaysia (32), which are it's immediate competitors. For example, in Singapore, average ship turnaround time was less than a day. In India, it was just over two days. Why Are India's Ports Lagging So Far Behind Their Asian Competitors? Equipment incapable of handling large volumes, deficient dredging capabilities, outdated navigational aids and IT systems, lack of proper logistics companies, lack of proper equipment handling training and technical expertise, are just some of the direct port-related problems that India faces. Although port maintenance is a major problem, it is surpassed by overall infrastructure issues It's difficult for seafaring cargo to be shipped off in time if the cargo has problems reaching the port in the first place. Poor hinterland connectivity, road, and railway problems make it challenging to export goods in a timely manner in India. "Years and years of underinvestment have left our country with a bad need for infrastructure across various fields like roads, railways, ports, airports, telecommunications, and electricity," says Pradeep Gupta, the executive director of Jagson International. "Businesses in India cite infrastructure as the single biggest hurdle. These kinds of infrastructure challenges are affecting economic growth here." What Is The Government Doing To Get Around These Issues? The Indian government has taken a handful of initiatives to improve the country's major and minor ports. In 2016, India passed the Central Port Authority (CPA) Act. The act grants more autonomy to the major ports. Also in 2016, it released the Revised Model Concession Agreement (MCA), which includes incentives for the private sector to get involved with the ports through updated tariff guidelines and discounted revenue shares. The government also provides a 10-year-tax holiday to companies that help maintain and operate ports. If these companies undertake a port development project, the government will help with up to 50% of the cost. But, it may take years before the government can enjoy the fruits of their labor through these port projects. The answer for bringing in investors to India may have to be independent of the ports entirely. How Does Quantified Commerce Bypass The Port Problem? "Companies can't solely rely on port infrastructure for shipping needs," says Agam Berry, co-founder of Quantified Commerce. They are a vertically-integrated company that builds E-commerce brands within the beauty and wellness sector. It manufactures all of its products from it's India-based factories that operate at GMP standards. The ingredients needed for their products aren't sourced domestically. "Waiting on a cargo shipment from the ports can require waiting an invariably long time, up to 20 days or more," Berry says. "Ports in India need an overhaul. Thankfully, since we are in the health and beauty space, we only need to import very exotic ingredients that are not available in India, and we are able to use air freight instead." Once their materials do get to the factories, Quantified Commerce is currently investing in middle-mile shipping to help overcome issues of poor road infrastructure."In terms of middle-mile shipping, we are looking at switching to trucks running on alternative fuels like CNG," Berry says. "Though more expensive upfront, they are half the running cost of diesel and are better for the environment. There is a massive pollution problem in India's major cities. Quantified Commerce wants to do it's best to not contribute to that." Down the road, or very literally, above the road, drones are another possibility that Quantified Commerce is considering. "In some years time, drones can be a clean and efficient alternative to our product delivery in India. Most of our products are light enough for drones to carry, and this circumnavigates any problems with road connectivity," Berry says. Still, most major businesses within the country still do rely on ports. But, with all these government initiatives to revive the infrastructure, India will hopefully see a revival of her major ports. For the time being, companies like Quantified Commerce have found ways to get around the problem.
Apr 23, 2018 - Quantified Commerce
Policymakers, leaders mull over Asia' s Infrastructure challenges
September 19, 2017, Delhi: The 5th edition of The Economic Times Infra Focus Summit organized by ET Edge brought the luminaries and policymakers of the Infrastructure sector together to discuss and formulate holistic solutions for key infrastructural challenges across Asia. The event was held at the Taj Mahal hotel in Delhi. Centred on the theme, 'Building Business Beyond Boundaries' the event garnered interesting viewpoints that could contribute to the growth story for infrastructural projects across Asia. Suresh Prabhu, Commerce and Industry minister, congratulated The Economic Times for its role as a change agent and said, "With the rise in infrastructure investments in the country, this should be at least 10 percent of the GDP. Every year we should invest US $ 250 billion, but for promoting that we need different ideas and policies that we can implement. I appeal to all of you participating in the summit to give ideas so that we can work on the ground." Remarking on the pioneering effort made by the group, Deepak Lamba, President - Times Strategic Solutions, said: "It was exciting to see the leaders reach a positive direction with discussions on enhancing and exploring opportunities for the growth of technology, energy and transport sectors- the overarching beneficiaries of the infrastructure sector. I am sure that this summit will give a fillip for the development of this sector with special emphasis on execution of projects." The event commenced with a keynote address by Salah Sharaf, Director General, Sharaf Group, UAE, who said: "Several Asian nations still need better quality bridges, railways, ports, harbours, power plants, gas pipelines etc. Governments need to rethink how to establish new infrastructure in their countries.His sentiments were echoed by Atul Punj, Chairman & MD, Punj Lloyd, who stated that while infrastructure is an exciting space to be in and Indian companies have left a mark on the global level, the contractors are still in nomadic space. "The Fairness of how contractors are dealt with is a major bottleneck in the country," he remarked. Later, the leading thinkers from Asia's infrastructure sectors assembled for a thought-provoking panel discussion on 'Integrating International Corridors for Quantifying Economic Development.' There was also an interesting international case study on modelling the approach to economic corridors, presented by Loay Ghazaleh, who is an advisor at Ministry of Works in Bahrain. The summit led to interesting and encouraging numbers shared by Jayant Sinha, Minister of State for Civil Aviation, who apprised the audience of the growth journey of the aviation sector in the last three years. "In FY17, the passenger trips have increased from 10 crores to an astounding 16 crores. Also, the order book for airplanes has shown remarkable growth, as there are 650 planes on order right now. No country has more planes on order compared to India right now. This is indeed extraordinary achievement,' he said. He also remarked that there has been a dramatic growth in the number of airports as well as the government has started 30 new airports, in lieu of just Rs. 200 crores subsidy. Under Ude Desh ka Aam Nagrik (UDAN) scheme, policy packages have been designed intelligently for tier 2 and tier 3 cities to make flying easier and affordable for the common man. He also touched upon the medical tourism industry and said that building world-class medical complexes around airports boosts this sector as well. "We can achieve the full potential of our aero properties by integrated regional planning and collaborated development with all stakeholders affected by it," he concluded. The Infra Focus Summit proved to be a successful platform for change-makers to come together and exchange ideas on how to turn India from a developing nation to a developed one. The summit evaluated various threats, challenges and opportunities in the sector and also the potential gains from the opening up of international corridors. About ET Edge Times Strategic Solutions Ltd., functional under the brand name ET Edge, is an Economic Times initiative founded to empower multiple industries and segments by sharing critical business knowledge through strategic conferences and summits. Encompassing the Indian business vista, ET Edge strives to bring together visionaries and key leaders on its knowledge platforms to create social and business ecology conducive to the positive changes required by the industry. The main aim of this initiative is to channel global business intelligence through summits and conferences in overarching lectures, hands-on workshops, panels, roundtables and case studies.
Sep 22, 2017 - ET Edge
Haptik Promises the Cheapest Flight Tickets or Your Money Back
Now, there is no need to scour through 10 different websites or apps, to find the cheapest deal for airfares; just ask Haptik, your personal assistant. To make summer trips a bit easier for its customers, India's leading Personal Assistant App promises the most economical ticket, or else, 100 % cashback. Haptik - the AI driven personal assistant app is giving the “Cheapest Airfare Guarantee” with no hidden charges - just the promise of cheapest flight ticket every single time. To avail this service, just send Haptik a message to book flight tickets for you, and its assistants will go through the hassles of searching for the best offer and making the booking in a matter of minutes. And if you find a cheaper ticket anywhere else—on any other travel website including the official airline website—Haptik will reimburse the difference into your Haptik wallet* within 48 hours. Speaking of this offer, Aakrit Vaish, CEO, Haptik said "Buying a plane ticket for travel and holidays have had always been a stressful task for travelers. We wanted to remove this unnecessary stress and make travel planning as pleasurable an experience as the holiday itself. Our Cheapest Airfare Guarantee offer stands guarantee of our commitment to get our customers the best deals for their flights – allowing them to enjoy their trips from booking till boarding.” Like a true-blue assistant, Haptik service doesn’t end at just guaranteeing the best flight booking deal. Post flight booking, Haptik sends an alert as soon as the web check-in for the flight opens; users can send a message to Haptik for their preferred seat and they receive the boarding pass within minutes. Additionally, users can set up fare alerts to get regular updates on cheapest flight deals from Haptik. This allows them to track airline prices and book their tickets as soon as fares are the cheapest. The Cheapest Airfare Guarantee and all these services can be availed o both the Haptik app and website. Currently, Haptik, the highest rated Indian app and the recent winner of Amazon Web Services Awards, is delivering these services for domestic economy travel in India. And the guaranteed amount is applicable on base fare & convenience fee, and the maximum cashback is Rs 500/-.
Jun 9, 2017 - Haptik
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