| |JUNE 202219CXO INSIGHTSBy Shalabh Raizada, Chief Information Officer, Stellar Value Chain SolutionsTHE SHIFT FROM SUPPLY CHAIN TO SUPPLY CHAIN 4.0 The global SCM market size is expected to reach $41.7 billion by 2026. How do you see this segment developing in India? What are the key factors driving the growth? The economy is on a recovery mode post two years of a very tough pandemic and the consumer sentiment is very high. Most sectors are already in the pre-COVID levels. The revival of the consumer demand has intensified supply chain operations across sectors such as lifestyle, electronic appliances, consumer durables and automotive, to name a few. E-Commerce witnessed a steep growth spurt during the pandemic as online shopping was practically the only option. While people are looking at continuing with online for essential or FMCG products, physical shopping for discretionary spends has also witnessed an upswing. The evolving consumer expectations and digitalised supply chain operations have also led to the emergence of time-sensitive delivery segments such as e-grocery and quick commerce. Tech-integration in supply chain operations has played a crucial role in ensuring businesses are able to deliver on their consumer promise. All in all, the supply chain management space in India is in a dynamic, multifaceted, and broad-based growth phase with an increasing network footprint across the country. Predictability, visibility, agility, resilience, and sustainability have been the overarching themes of the post-pandemic supply chain efficiency. Digital transformation was a part of survival strategies of the supply chain management companies during the pandemic phase. Having said that, while the economy is in the recovery mode, forward looking supply chain companies are taking tech integration to the next level by aggressively adopting artificial intelligence (AI), internet of things (IoT), machine learning (ML), big data, and many more. The use of cloud computing as the main stay of data interchanges will create the pathway for the next-gen supply chain. Moreover, deployment of digital transformation technologies is also leading to the Shalabh Raizada, Chief Information Officer
< Page 9 | Page 11 >