Financial Daily from THE HINDU group of publications
Saturday, Sep 25, 2004
Financial Daily from THE HINDU group of publications Saturday, Sep 25, 2004 |
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Marketing
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Retailing `Efficient supply chain management key to retail sector success' Our Bureau
Mr Patrick Medley, Distribution Sector Leader, Asia Pacific, IBM Consulting, Singapore, with Mr Onkar S. Kanwar, Senior Vice-President, FICCI, at a seminar on `Winning with Intelligent Supply Chains' in the Capital on Friday. — Kamal Narang
New Delhi , Sept. 24 INDIA can position itself as a lead player in Asia, if the retail sector here attains the competitive strengths by responding to the changing markets, Mr Patrick Medley, Distribution Sector Leader, Asia Pacific, IBM Consulting, Singapore, said here today. Addressing the conference on `Winning with Intelligent Supply Chains' (WISC 2004), organised by the Federation of Indian Chambers of Commerce and Industry (FICCI), he spelled out the strategy for efficient management of supply chain. He said that by 2010 the supply chain must be focused and differentiated. "In today's highly competitive environment, as companies are under intense pressure to reduce costs, expand into fresh markets and develop new products, every manufacturer's supply chain is expanding and becoming increasingly complex. Effectively managing complexity can be a manufacturer's greatest asset," he said. Experts from the retail business affirmed that the current retail boom in India could only sustain its momentum if supply chain management is given the top priority by the retail players. The supply chain has a key role to play in the expansion and profitability of many companies, but it has rarely been adapted to meet the new demands placed upon it, said Mr Medley. The critical differentiating factors that synchronise the entire global supply chain are collaborating with customers, rather than only with suppliers, he added.
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