Overview
Industry Integration and Knowledge Exchange Cell, (IIKEC) Sharda University in collaboration with Uttar Pradesh Corrugated Box Manufacturers’ Association (UPCBMA) and Ministry of Heavy Industry (MHI), Government of India is organizing one-day seminar on “Role of Smart Technologies in Supply Chain Management for the Industrial Growth” at Sharda University 7th February 2024.
Objectives of Event
The objective of exploring the role of smart technologies in supply chain management for industrial growth encompasses several key goals and outcomes. Here are some of the primary objectives associated with this topic:
Efficiency Improvement: Implementing smart technologies aims to enhance the overall efficiency of supply chain processes. Automation, real-time data analytics, and optimization algorithms can streamline various tasks, reducing delays and bottlenecks in the supply chain.
Cost Reduction: Smart technologies can help in identifying areas of cost savings through improved resource utilization, better inventory management, and reduced lead times. By minimizing inefficiencies and errors, organizations can achieve a more cost-effective supply chain.
Visibility and Transparency: Enhancing visibility across the supply chain is a crucial objective. Smart technologies enable real-time tracking of goods, providing accurate and timely information on inventory levels, shipment status, and production progress. This transparency helps in making informed decisions and mitigating risks.
Demand Forecasting: Utilizing advanced analytics and machine learning algorithms, smart technologies can contribute to more accurate demand forecasting. This enables organizations to optimize inventory levels, reduce stockouts, and respond more effectively to market fluctuations.
Adaptability and Resilience: In the face of uncertainties, such as disruptions in the supply chain or changes in market demands, smart technologies can contribute to the adaptability and resilience of the industrial ecosystem. Rapid response mechanisms and scenario planning can be facilitated through intelligent systems.
Enhanced Collaboration: Smart technologies enable improved collaboration among various stakeholders in the supply chain, including suppliers, manufacturers, distributors, and retailers. Enhanced communication and information sharing contribute to smoother operations and better coordination.
Quality Control and Traceability: Smart technologies, including IoT (Internet of Things) devices and sensors, can be employed to monitor and ensure the quality of products throughout the supply chain. Additionally, they enable traceability, helping organizations quickly identify and address issues related to product recalls or quality concerns.
Environmental Sustainability: Implementing smart technologies can contribute to more sustainable supply chain practices. Optimized transportation routes, reduced energy consumption, and efficient resource utilization can have positive environmental impacts, aligning with global sustainability goals.
Competitive Advantage: Embracing smart technologies in supply chain management can provide organizations with a competitive advantage. Those who leverage these technologies effectively are likely to have faster, more responsive supply chains, leading to increased customer satisfaction and market share.
Strategic Decision-Making: The objective is to empower decision-makers with real-time, data-driven insights. Smart technologies enable the collection and analysis of vast amounts of data, facilitating strategic decision-making for long-term growth and competitiveness.
In summary, the overarching objective is to leverage smart technologies to transform and optimize supply chain processes, fostering industrial growth by improving efficiency, reducing costs, enhancing visibility, and enabling organizations to adapt to dynamic market conditions.
Convener Details
- Dr. Madhukar Deshmukh, Director IIKEC
- Dr. Bhim Singh, Member IIKEC
Co-ordinators:
- Mr. Vikrant Choudhary, Member IIKEC
Chief Guest Details:
Sh. Rajender Bhati, VP, FCBM
